News
RSA broker boss to take time out after heart operation
RSA has confirmed that its broking boss is to take time off to recover from an operation.
US Treasury to deduct executive bonuses from latest $30bn bailout
The US Department of the Treasury has written to the US House of Representatives to say that it will deduct millions from AIG's rescue package in lieu of payments given to the insurer's staff in terms of bonuses.
CII president's dinner cancelled after gas leak
Last night's Chartered Insurance Institute president's dinner was cancelled after a gas leak shut the area around The Guildhall, London where it was to be held.
Pick of the week
Post reporter Louise Meeson looks at the major stories in this week's Post: PBS Holdings CEO welcomes...
Ace Saudi Arabia subsidiary in IPO
Ace Arabia Cooperative Insurance Company, a subsidiary of Switzerland-domiciled (re)insurer Ace, has announced that it will make an Initial Public Offering (IPO) on the Tadawul in Saudi Arabia.
Arch Re in management shake-up
Arch Reinsurance, the US-based reinsurance arm of Arch Capital, said it has promoted John Rathgeber to chairman and chief executive and Tim Olson has been appointed president and chief operating officer with effect from March 1, 2009.
Europ Asssistance hires new claims chief
Europ Assistance has appointed former Norwich Union employee David St Clair as head of travel claims.
E-business insights
Post's E-business strategy Management Briefing in London next week will tackle all the key issues facing those in the insurance industry responsible for driving their businesses online strategy. In addition to expert online speakers from Tealeaf, CGI,…
Overcapacity will delay premium hikes claims advisory group
Recession hit businesses are not making the most of over capacity in the market to seek cost savings, according to a financial advisory group.
GMC and GDC told to consider compulsory insurance
Patients are at risk of not receiving compensation if they are negligently harmed by a doctor or dentist warned the Medical Defence Union today. Under the current, system of medical and dental indemnity, doctors and dentists are still not required to…
NIG signs up to Towergate arm
NIG has joined the panel of insurers launching new commercial property owners and let property owners policies through Towergate subsidiary Power Place.
High level of losses in Asia could spur need for insurance - Swiss Re
The high level of insured losses from catastrophes in Asia could drive a need for insurance, Swiss Re has said.
Chinese non-life giant in $1.2bn debt issue
(BESTWIRE) - PICC Property and Casualty Co. Ltd. [77633], the largest n domestic nonlife insurer in China, said it will issue not more than 8bn yuan (US$1.2bn) in 10-year subordinated term debt securities to raise its solvency margin, subject to…
NY Attorney General accuses AIG CEO Liddy of bonuses 'cover up'
The Office of the New York Attorney General has written to Edward Liddy, chairman & CEO of AIG, accusing it of a cover up over detailing bonuses paid to employees.
Low inflation demonstrates value of flexible protection policies, says Skandia
Comprehensive protection products can provide more flexibility for clients in the current economic climate than cheaper off-the-shelf policies, says Skandia.
Allianz poised to grow fraud teams
Allianz Insurance is set to recruit a number of new employees to bolster its technical and operational fraud teams.
PI claims costs hike will hit insurers, says Weightmans
Insurers need to brace themselves for an above-inflation increase in personal injury claims costs and make sure they update their reserves accordingly when amended regulations come into force next month, according to law firm Weightmans.
Arch Insurance Europe expands into Lloyd’s
Arch Insurance Company (Europe), a subsidiary of Arch Capital Group, has established a new syndicate at Lloyd's. The syndicate will commence underwriting from mid-March this year for risks attaching from 1st April onwards.
Arch says to start new Lloyd's Syndicate
Bermudian (re)insurer Arch has confirmed that it has received from Lloyd's to establish a new syndicate at Lloyd's.
Aspen names new FI head as Fox goes
Aspen Re has replaced its head of financial institutions underwriting head Adrian Fox and replaced him with former SVB chief executive Rupert Villers.
Charles Taylor opens New York office
Charles Taylor Adjusting has announced the further expansion of its global network with the opening of a new office in New York.
Glacier recruits senior underwriter from Arch
Glacier continued to ramp up its underwriting when it announcement the recruitment of a senior property underwriter from Arch.
Paris Re results drop 42%
Paris Re's full year net income dropped nearly 42%, dropping to $158m from $271.7m.
CCV makes acquisition
Cullum Capital Ventures has acquired the general insurance business of KF Garner & Company based in Warrington.