News
AIG unit unwinds CDS positions
AIG has unwound its remaining CDS swaps with Goldman Sachs according to newswire Reuters.
Equity seals Kia affinity deal
Kia Motors UK has appointed Equity Direct Broking to administer its car insurance scheme. The three-year deal will see Equity providing branded policies through Kia’s network of 150 UK dealerships.
New English fire safety rules put employee capabilities in spotlight
Marsh is recommending that organisations based in England review their health and safety procedures following the introduction of the Fire Safety (Employees’ Capabilities) (England) Regulations 2010 which came into force for England on 6 April.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
Quinn Insurance administration hearing delayed
The full hearing of the Financial Regulator's action to put Quinn Insurance into full administration has been postponed.
Aviva boss admits its market share is too low
Aviva is seeking to expand in Turkey because its current business isn’t big enough, its local CEO has told Bloomberg.
Train crashes in Italy killing at least six
A train has derailed in northern Italy, killing at least six people and injuring 20 others, according to media reports.
Coversure and Lorega launch commercial claims service
Coversure and Lorega are to launch Coversure Commercial Concierge, a new commercial claims service for Coversure clients.
XL targets Irish mid-market
XL Insurance has launched a Dublin-based underwriting operation for middle market casualty business.
Sterling appoints head of commercial
Sterling Insurance Company has appointed Kevin Donoghue to the newly created position of head of commercial underwriting.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
Arista names new senior underwriter
Arista Insurance has named former NIG key account manager Gavin Benson as a new Birmingham-based senior underwriter.
US seek exit from AIG stake within a year: WSJ
The government's bailout of the financial system is expected to cost $89bn, much lower than earlier projections, the Wall Street Journal reported on Sunday, citing Treasury Department officials.
Former Willis director joins RFIB
A former executive director from Willis, Karl Haynes, has joined RFIB Group as director of international claims. Mr Haynes was at Willis for more than 25 years, most recently within its marine division with responsibility for the international, trade &…
Aon Benfield warns of 20-30% reduction in profit for crop insurers
Aon Benfield report reveals that proposed changes to the Standard Reinsurance Agreement by the USDA could induce challenging market conditions for US crop reinsurers participating in the Federal insurance program.
Friends Provident pays out £34.5m in critical illness claims in 2009
Friends Provident paid £34.5m in critical illness claims in 2009 the company has revealed.
Torus appoints marine head
Torus has appointed Demian Smith as global head of marine with immediate effect. Reporting to chief underwriting officer of global specialty Dermot O’Donohoe, Mr Smith will facilitate the expansion of Torus’ specialty offering through the set up and…
Aviva boss admits its market share is too low
Aviva is seeking to expand in Turkey because its current business isn’t big enough, its local CEO has told Bloomberg.
Train crashes in Italy killing at least six
A train has derailed in northern Italy, killing at least six people and injuring 20 others, according to media reports.
XL targets Irish mid-market
XL Insurance has launched a Dublin-based underwriting operation for middle market casualty business.
Biba clarifies members' position over limitation of liability
The British Insurance Brokers’ Association has launched a new publication to provide clarification to brokers on the issue of limitation of liability when advising clients.
ABI: trade credit claims up 95% in 2009
Latest figures from the Association of British Insurers show that trade credit insurance helped UK businesses by dealing with 22 791 claims in 2009.
Overall Xynthia loss put at Euros 1.28bn
Perils AG today disclosed its initial loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
RSA and Axa named as potential bidders for Quinn
Dutch insurance giant Eureko, RSA and Axa have been named among the 20 or so predators circling the Quinn Insurance group, according to reports in Ireland.