News
AM Best removes rating of Lemma from under review
AM Best Europe has removed the rating of Lemma Insurance Company from under review with negative implications and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-”.
Ace reports 40% fall in net income at the half year mark
Ace has recorded net income of $607m (£370) in the second quarter of 2011, a drop of 10% on Q2 2010.
NIG adds four to Midlands office
Commercial insurer NIG has named four new staff to its Birmingham-based Midlands regional office.
Lancashire to redomicile from Bermuda to the UK
Lancashire Holdings today announced that it plans to move to UK tax residency.
Brand reputation important for non-life insurance purchases
Brand reputation is vital to consumers purchasing non-life insurance, a study has found.
First Title team up with Ink to target PII market
First Title Insurance has teamed up with Ink Underwriting Agencies to offer professional indemnity insurance to law firms.
Sean Quinn’s new venture has no Malta licence
The Malta Financial Services Authority has denied reports that Sean Quinn has a Malta- based insurance licence for his new insurance company, Q2, according to sister publication Insurance Age.
Axa confirms Bristol and Newcastle branches
Axa Commercial Lines has confirmed that it will open two new branches in 2011 and that it is looking at central locations in Bristol and Newcastle.
Equity Claims appoints WNS
Equity Claims has appointed WNS Assistance to handle its approved repair scheme for private car and light commercial vehicle accidents across the UK outside London.
Coene appointed Europe MD for QBE
QBE has appointed Patrick Coene as managing director, European Markets.
Scor acquires 100% of the capital of Solareh SA
Scor Global Life SE, a subsidiary of Scor SE has acquired the remaining 50% of Solarah SA shares by purchasing shares from Solareh International.
Scientific research improves extreme weather planning
Insurers and commodity markets can make better risk decisions thanks to increased scientific knowledge about the twin climate cycles, El Niño and La Niña.
QBE raids Amlin for new European boss
QBE has appointed Patrick Coene as managing director, European Markets.
Ferma: no more EU corporate governance rules needed now
The Federation of European Risk Management Associations has told the European Commission that it should start with “implementation and robust enforcement” of existing EU corporate governance rules on risk management, rather than creating new ones at the…
Kiln builds aviation team in Singapore
An underwriting team dedicated to aviation risks in Singapore has been formed by Kiln.
Airline carriers see lowest losses in six years
The airline industry experienced an eerily quiet first half of the year, with losses of just $400m, the lowest total in six years, according to the latest report from the Aerospace division of Willis Group Holdings.
Airlines enjoying "calm before the storm" according to Willis report
A low level of airline industry losses recorded in the first half of 2011 could be the “calm before the storm”, according to Willis’ aerospace division.
Groupama launches security product
Groupama Insurance has launched the latest ‘exclusively’ product for commercial brokers.
Aon claims the aviation market remains stable, with premiums up 1%
Aon Risk Services has reported that average lead hull and liability prices in the airline insurance market have been relatively stable so far in 2011, held in check by the low level of losses and abundant market capacity.
Fraudsters jailed for £100 000 insurance scam
A team of fraudsters who attempted to cheat insurers out of £100 000 have been warned by a judge that a message "must go out" that people involved in large-scale insurance fraud will receive prison sentences.
AM Best Europe recruits new MD
Stefan Holzberger has joined AM Best’s European business in the role of managing director, analytics.
Brit still in profit at H1 2011 despite 15.5% COR hit for major claims
Brit Insurance has this morning reported that its profit before tax was £6.8m for the first six months of 2011 (30 June 2010: £77.5m). Excluding the effect of foreign exchange on non-monetary items it was £1.6m (30 June 2010: £72.8m).
AM Best appoints Holzberger as EMEA MD
AM Best has appointed Stefan Holzberger as managing director, analytics.
BGL Group expands board
BGL Group has made a series of appointments to its main board as part of a restructure that establishes four operating groups.