News
$25bn African microinsurance market mostly untapped, finds report
Little over 2% of Africa's 700 million working poor are covered by insurance, representing a vast untapped opportunity for social and economic development, according to a new study by the Microinsurance Innovation Facility of the International Labour…
Amlin benefits from ACI acquisition with 32.1% hike in GWP
Amlin this morning reported gross written premium (before deduction of brokerage) was up 32.1% for the four months ended 30 April 2010 at £964.0m (30 April 2009: £729.7m).
XL remains in S&P 500 index
XL Capital will remain in Standard and Poor’s 500 index following redomestication of the parent holding company from the Cayman Islands to Ireland.
Quinn administrator pulls plug on UK PI business
Quinn Insurance will not reopen its professional indemnity business in the UK despite the likelihood it will recommence underwriting other commercial lines.
Amlin benefits from ACI acquisition with 32.1% hike in GWP
Amlin this morning reported gross written premium (before deduction of brokerage) was up 32.1% for the four months ended 30 April 2010 at £964.0m (30 April 2009: £729.7m).
XL remains in S&P 500 index
XL Capital will remain in Standard and Poor’s 500 index following redomestication of the parent holding company from the Cayman Islands to Ireland.
Curtain falls on Quinn PI book
Quinn Insurance will not reopen its professional indemnity business in the UK despite the likelihood it will recommence underwriting other commercial lines.
Internal benchmarking - the dangers
The dangers of internal benchmarking were illustrated by insurance group editor-in-chief, and chair of the event, Ant Gould, with an anecdote from his own professional past.
Generali sees GI profit reduced by 25.4% in Q1
Italian insurance giant has recorded a non-life combined ratio of 98% in quarter one 2010 (96.3% 1Q09; 99.5% 4Q09) after an increase in catastrophic events.
Ageas records loss in quarter one
Ageas today reported a 20% increase in premium over the first quarter of 2010 to EUR 5bn when compared with Q1 2009.
Aviva signs three year deal with trade union
Aviva France has signed a three-year agreement on the employment of older people.
Lloyd's motor insurer KGM put up for sale by parent company
Lloyd's motor insurer KGM has been put up for sale by its parent Gibraltar-based Perseverance.
Generali sees GI profit reduced by 25.4% in Q1
Italian insurance giant has recorded a non-life combined ratio of 98% in quarter one 2010 (96.3% 1Q09; 99.5% 4Q09) after an increase in catastrophic events.
Ageas records loss in quarter one
Ageas today reported a 20% increase in premium over the first quarter of 2010 to EUR 5bn when compared with Q1 2009.
Aviva signs three year deal with trade union
Aviva France has signed a three-year agreement on the employment of older people.
Con-Libs: Bank of England regulatory plan to be brought forward
The coalition agreement announced today by the Conservatives and Liberal Democrats outlines plans to bring forward the objective of giving more power to the Bank of England. However, it makes no mention of the Financial Services Authority.
Allied World appoints new US claims head
Allied World US has announced that Mark Rosen, executive vice president & chief claims officer will retire in June. Julianne Splain, VP of professional and management liability claims has been promoted to senior VP and will assume responsibility for the…
PZU share prices soar on first day’s trading
The share prices in Polish insurer PZU rose 13% on their first day of trading in Warsaw, Bloomberg has reported.
PZU share prices soar on first day’s trading
The share prices in Polish insurer PZU rose 13% on their first day of trading in Warsaw, Bloomberg has reported.
Lib Dem set for climate change role in Cameron's cabinet
Liberal Democrat MP Chris Huhne is poised to become energy and climate change secretary, according to reports.
PartnerRe appoints new chairman
PartnerRe announced that following his re-election as a director, Jean-Paul Montupet has been named as chairman of its board. Mr Montupet replaces John Rollwagen, who was also re-elected as a director and will remain a member of the board.
Post in print - 13 May 2010
Post deputy editor Lynn Rouse provides a quick snapshot of the major news from tomorrow's issue of Post including KGM Motor up for sale, Marsh opens network arm, Quinn update, new adjusting venture and broker sets up captive.
Goldman nears deal for AXA's $1bn Taikang stake
An investing arm of Goldman Sachs is in the final stages of an agreement to buy AXA's $1.05bn stake in Chinese Taikang Life, according to newswire Reuters.
Cable to support Osborne in Treasury role
The Liberal Democrats deputy leader and Treasury spokesman Vince Cable has been given a business and banking position in the new coalition government headed up by new Prime Minister, Conservative leader David Cameron.