News
Soil deficit figures support predicted upturn in subsidence claims
Unless there is significant rainfall over the UK in the next six weeks, the industry should brace itself for a rise in subsidence claims later this year.
Lloyd’s receives reduced collateral approval in NY
Lloyd’s has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts.
Solvency II delay poll results
Find out what the market voted on for the Solvency II delay.
DAS appoints senior risk and compliance officer
DAS Group has appointed Deborah Douglas as the new senior risk and compliance officer.
MGAA to launch in September
The Managing General Agents’ Association has confirmed that it is to officially launch on 1 September.
Prominent insurance leaders to join IIS board of directors
Eight insurance leaders will join the board of directors at the International Insurance Society, effective 1 August.
Danish government asks TRIA broker to review local terrorism capacity
US RE, the international reinsurance broker, has been selected by Finanstilsynet, the Danish Insurance Supervisory Authority, to conduct a study of terrorism risk reinsurance capacity in the Danish market.
JLT transformation programme exceeds expectations as profits and revenues rise
JLT has recorded a 9% leap in total revenue for the first six months of 2011 to 411.3 (H1 2010: £377.8m) and 8% rise in underlying trading profit for the same period at £76.1m (H1 2010 £70.7m).
A-Plan founders reveal £4.2m THB stake
Former A Plan directors Tom Duggan and David Saville, alongside Ian Donald, have declared their 15.1% ownership in THB, according to a stock exchange announcement.
Validus spurned in bid for Transatlantic shareholding
Transatlantic Holdings today announced that its board of directors has unanimously determined to recommend that stockholders reject Validus' offer to acquire all the outstanding common shares in the business.
European Parliament confirms Solvency II 2014 delay
The European Parliament has agreed that Solvency II should be delayed until 2014.
Solvency II 2014 delay confirmed
The European Parliament has agreed that Solvency II should be delayed until 2014.
Markel launches Dutch operation
Markel International is preparing to open a branch office in Rotterdam this September.
Julian James elected new CII president
At the Chartered Insurance Institute’s annual general meeting held in London on 22 July 2011 Julian James was elected 115th president of the CII.
Consumers feel little love for insurance brands
Churchill has topped a list of insurance and pension brands according to the quality of relationship they have with their customers, but overall insurance and pension brands fared worst in the survey of financial services.
Scor boss heralds "capital shield" after H1 nat cat losses
Scor has recorded gross written premiums of €3400m (£2900m) in the first half of 2011, up 4.4% compared to the first half 2010 (+6.7% at constant exchange rates).
Insurers uncovered 9% more fraud in 2010, according to the ABI
Insurers uncovered 133 000 fraudulent insurance claims in 2010 - 2500 every week - up 9% on 2009.
Jersey avoids Solvency II
Jersey’s insurance sector has welcomed the announcement from the island’s financial services regulator, the Jersey Financial Services Commission, that it has no plans to implement Solvency II measures in Jersey.
Western European deal-making "fragile" in July
Western European deal-making in July has been described as “fragile” by Zephyr researchers who recorded 1150 M&A deals worth a combined €39 091m in the past month – the weakest monthly result since August 2010.
Jersey regulator rejects Solvency II
The Jersey Financial Services Commission has said that it has no plans to implement Solvency II measures in Jersey.
Gallaghers confident of exceeding $2bn in 2011 after Heath deal and strong H1
Arthur J Gallagher & Co today reported a 13% rise in brokerage revenues for the first six months of 2011 to $717.6m (£439m) (H1 2010 $635.2m).
AA premium index highlights rate increases are levelling off
According to the latest benchmark AA British Insurance Premium Index, the cost of both car and home insurance appears to be levelling off, with small falls in the cost of cover for young drivers and for home insurance.
People moves - 28 July 2011
A round-up of people moves and new appointments in the industry, as featured in the 28 July 2011 edition of Post.
