News
Eiopa begins consultation on complaints handling
The European Insurance and Occupational Pensions Authority has begun a public consultation on proposed guidelines on complaints-handling by Insurance Undertakings.
Oxygen to sell off remaining assets - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including how market commentators believe large employee expenses and lack of profits are behind the demise of seven-year old Oxygen Holdings, as it prepares to sell off its…
Admiral share price rests on analyst presentation
Admiral’s analyst presentation this afternoon could see its share price rise if it “hits the market with new stuff” or plummet further if it fails, experts have warned.
FCA and PRA collaboration is the key, says Adams
Prudential Regulation Authority boss Julian Adams has pledged the organisation will collaborate with the Financial Conduct Authority to ensure the bodies do not duplicate work.
Admiral share price slumps as Engelhardt warns of no reserve releases in Q4
Equity analysts are maintaining a “cautious hold” recommendation on Admiral’s share price as it dropped this morning revealing large personal injury claims continued to create large costs. Admiral boss Henry Engelhardt also warned there could be no…
Swiss Re buys $130m cat bond for Atlantic hurricane and European windstorm
Swiss Re has obtained a further $130m in protection through the Successor X catastrophe bond programme for North Atlantic hurricane and European windstorm.
Miller appoints former Marsh man to corporate risks team
Miller has today underlined its commitment to strengthening its corporate risks team with the appointment of Mark Hicks from Marsh.
AM Best affirms Torus rating despite 1H11 losses
AM Best has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of "A-" Torus Insurance Europe, Torus Insurance UK and Torus Insurance Bermuda.
Ace and Chubb experts lead Lloyd's environment consortium
Lloyd’s has responded to increased demand for higher levels of environment impairment liability coverage by launching its own environmental liability consortium.
Swiss Re makes $130m in natural catastrophe protection
Swiss Re has obtained a further US$ 130m in protection through the Successor X catastrophe bond programme covering North Atlantic hurricane and European windstorm.
Ageas UK reports increase in GWP
Ageas UK today reported that its total general insurance gross written premiums for the first nine months of 2011 increased by 16.8% over the same period in 2010 to £822.5m.
Insurers told to set their house in order ahead of parliamentary debate
Apil has called on the insurance industry to set its house in order as MPs prepare for another debate on the cost of motor insurance tonight (8 November).
Endsleigh settles in £15.5m claims row
Ensleigh has confirmed that it has reached a “mutually acceptable agreement” with Southern Rock.
Crawford’s fraud buster Gracey quits
Crawford fraud boss Bobby Gracey, has resigned from the loss adjuster to become chief executive of Glasgow-based International Fire Investigators & Consultants.
'Difficult environment' hits Munich Re’s Q3 profits
Munich Re has reported an 88% reduction in operating profits for the third quarter, down to €402m from €3.4bn year on year.
Insurers cannot underestimate work needed to comply with Solvency II
PwC has commented on today's launch by EIOPA of a public consultation on its revised proposals for reporting under Solvency II.
Groupama mulls possible sales option
Groupama is believed to be investigating the option of selling a stake in the company or assets to outside investors in an attempt to strengthen its capital and restore its solvency margin.
Proposal seeks to lift China's foreign motor insurer ban
China may be set to lift the exclusion on foreign insurers selling compulsory motor insurance in the region.
EIOPA launches public consultation on Solvency II
In order to facilitate the preparatory work of insurance and reinsurance undertakings for Solvency II, the European Insurance and Occupational Pensions Authority has opened a public consultation with regards to supervisory reporting & public disclosure…
Markel appoints chief representative for China
Markel has appointed Steven Zhang as chief representative for Markel China.
Howden acquires Accette’s Asian operations
Broker Howden has acquired the insurance operations of Accette Insurance Group in Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.
Thai floods could cost $10bn
In an earnings conference call this morning to analysts Aspen predicted that the market loss as a result of the recent floods in Thailand could reach as high as US$10bn.
Coface achieves 'AA-' rating and stable outlook
The major insurance entities of the Coface group has all received insurer financial strength ratings at 'AA-'.
Markel's combined ratio hits 105% due to nat cat losses
Markel Corporation’s combined ratio increased to 105% in the first nine months of 2011 due to heavy natural catastrophe losses.