News
Mapfre agrees €85m insurance stakehold in Caixa banks
Spanish insurer Mapfre has agreed to aquire a 50% stake in the insuraance subsidiariers of banks Caixa Manresa and Caixa Tarragona for €85.7m (£74.4m)
Speculation mounts over Quinn takover by UK construction giant
Construction firm Laing O’Rourke has held talks with the Quinn Group amid continuing speculation about a takeover of parts of its beleaguered business, according to reports in the Irish press.
Post in print - 29 April 2010
Post reporter Leigh Jackson provides a quick overview of this week's news including: Ex-Hero boss plans start-up, UK market facing £600m hole with no Quinn, HSBC facing Marsh cull, Chartis CEO scans Europe for new HQ and political parties outline their…
Mapfre agrees €85m insurance stakehold in Caixa banks
Spanish insurer Mapfre has agreed to aquire a 50% stake in the insuraance subsidiariers of banks Caixa Manresa and Caixa Tarragona for €85.7m (£74.4m)
EMB expects surge in UK motor reinsurance claims
PPOs add unpredictability into the emerging claims picture for UK motor reinsurers
Ex-HSBC PI team leaves Marsh
Marsh has transferred part of the professional indemnity portfolio it took over as part of its acquisition of HSBC Insurance Brokers to RK Harrison Insurance Services.
25% commercial SME products now bought online
According to Defaqto’s latest report into commercial SME Insurance, almost a quarter of products available in the office and retailers market are now available online.
Deepwater Horizon oil rig continues leaking oil as claims rise
Owner BP expects its self-insurance and captive insurance to cover costs associated with a massive clean-up effort, which has been said to be costing $6m a day.
Purple network wins 40th member
Birmingham-based insurance and financial services provider Jobson James has become the 40th member of Jelf-owned broker network Purple.
Assurant purchases $150m reinsurance through cat bonds
Assurant subsidiaries have entered into reinsurance agreements providing for $150m in multi-year, fully collateralized reinsurance from Ibis Re, a special purpose reinsurance company domiciled in the Cayman Islands.
UK takaful insurer sold to Kuwaiti buyer
Principle Insurance Holdings, parent company of the UK’s first Shariah compliant insurance group, has confirmed the conditional sale of its subsidiaries, Principle Insurance Company and Principle Marketing Services, to Al Salam Group Holding Company – a…
Montpelier appoints US CEO
Short-tail (re)insurer Montpelier Re has named Dick Nenaber CEO of Montpelier US Insurance Company (MUSIC).
AIG “relatively stable” – US government
AIG has remained in “relatively stable” financial shape since September last year, the United States Government Accountability Office said.
Analysts positive on Scor results
Analysts watching Scor’s first quarter results are pleased that the group’s bond exposure does not extend to some of the European Union’s more troubled countries.
Giles confirms FSJ deal
Giles Insurance Brokers finalises deal which sees the FSJ broking unit of Cooper Gay join the broker with immediate effect.
QBE wins crash for cash case
A collaboration between the counter fraud teams of QBE and law firm DWF has seen two people given a suspended sentence and one a sentence of conditional discharge.
Marsh in trade credit shake up
Marsh has created a trade credit practice for Europe, the Middle East and Africa, to be led by Tim Smith, who was previously head of the UK trade credit practice.
XL Insurance launches global claims system with Accenture
XL Insurance and Accenture are implementing a new centralised global claims management system to support the insurer’s operations in 25 countries.
Axa raids Hiscox and Beazley for financial lines push
Axa Insurance has made a number of specialist appointments to underpin its growth plans in the SME sector and its ambitions in the mid-corporate market.
Alexander Dreyer joins Miller to head the European financial institutions team
Miller has enhanced its financial institutions business with the appointment of Alexander Dreyer.
Fortis outlines readiness for MoJ RTA reforms
Fortis today claimed that it is one of the first insurers to have implemented an ‘application to application’ approach ahead of the reforms to streamline the compensation system for low cost road traffic accident personal injury claims, launching on…
Scor Q1 net income falls 61%
High natural catastrophe losses are behind Scor’s reported €36m losses in the first quarter of 2010, according to the company.
LMA nominates Beaton as Xchanging rep
The Board of Xchanging Claims Services has announced that Ian Beaton has been appointed as the Lloyd’s Market Association’s representative to be a non-executive director of XCS.
Quinn investigation now focuses on loans
The Financial Regulator is concentrating on two areas relating to guarantees given by Quinn Inusrance's subsidiaries to the wider Quinn group as its investigation nears a close.