News
Ace in global green launch
Ace has launched Ace Green, a specialised insurance solution covering the spectrum of environmental and climate related risks faced by businesses.
New taxi product from KGM
KGM Motor Insurance has launched a bespoke policy wording for taxis following feedback from supporting brokers.
Lloyd's appoints former Swiss Re manager as Chinese boss
Lloyd’s has appointed a new chief executive officer for Lloyd’s Reinsurance Company (China).
Former Benfield broker to head Oxygen Bermuda push
Oxygen Insurance Brokers, the Lloyd’s accredited London market insurance intermediary, has announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda).
Brightside takes on new recruit
Brightside Group, an insurance broking and financial services business, has appointed Julian Telling as non-executive director of the Group, with effect from 8 September.
Abbey hails half year result
Legal expenses insurer Abbey Protection has reported a 13% growth in pre-tax profits to £3.9m on revenue of £14.5m (up 8%) for the first six months of 2008.
Jelf strengthens personal lines division
The Jelf Group has appointed Chris Tully to the newly created position of director of personal lines within Jelf Insurance Brokers.
Swiss Re: elevated inflation poses insurance risk
The reinsurance industry is facing a more challenging business environment characterised by continued soft markets, stock market turbulence and an active hurricane season, according to Swiss Re.
Hardy enters new market
Hardy Underwriting Bermuda has begun underwriting a book of Japanese “kyosai” – or mutual cooperative – business.
Munich Re speaks of retro market problems
Heightened retrocessional reinsurance prices have led to Munich Re being unable to retrocessionally place some risks, said the company's senior reinsurance underwriters.
Aon Re: industry changing event needed to keep rates level
An industry-changing event of $15bn to $25bn of ceded losses will be needed to keep reinsurance rates at current levels, and a heavy ceded loss of between $40bn and $50bn to push the price of reinsurance up, according to Bryon Ehrhart, president and…
Guy Carpenter warns of
The subprime crisis has meant that the (re)insurance industry is "witness to a new type of catastrophe", according to the chief executive of Guy Carpenter.
Hannover Re expecting minor losses from Hurricane Gustav
Wilhelm Zeller, chief executive officer of Hannover Re, took the opportunity at a press breakfast in Monte Carlo to give an early indication of the scale of losses from hurricane Gustav , which swept across the Gulf of Mexico and Louisiana at the end of…
Advisers apathetic about RDR
Advisers are unconcerned about how the implications of the FSA’s Retail Distribution Review (RDR) will affect their business, according to new research from Assureweb.
Credit crunch hits the nation’s long-term health, according to new report
The credit crunch is taking a dramatic toll on the nation’s health, diet and fitness and could have serious long-term health implications, according to a new report launched today by Friends Provident and the Blood Pressure Association.
Heightened retro prices lead to Munich Re unable to place a storm risk
Heightened retrocessional reinsurance prices have led to Munich Re being unable to retrocessionally get additional reinsurance for a storm risk it wanted to place, said one of its senior reinsurance writers.
Glacier Re promotes underwriters
Glacier Reinsurance, the Switzerland-based reinsurer, said it has promoted Ralph Bothe and Eduoard von Herberstein to the position of Senior Treaty Underwriter. They will continue to report to Glacier Re’s Chief Underwriting Officer, Dirk Turley.
Exodus of Benfield brokers not expected before January
The exodus of Benfield brokers after the takeover of Aon is not expected until after the 1 January renewals season, sources have told Reinsurance .
RSA share price rockets over Allianz bid speculation
RSA and German giant Allianz have declined to comment over rumours that the two companies are in talks over a potential takeover. RSA's shares, which have been on the rise all week, were at 164p by lunchtime today, compared to 158p at close of market…
Axis CEO Charman says XL is an 'industry takeover target'
XL, the Bermuda-based (re)insurer, is in the sights of the (re)insurance industry, Axis chief executive John Charman was reported to have said at an industry conference.
Industry meets government to discuss uninsured driving changes
The government has met up with senior insurance figures to reveal more about its plans for the introduction of Continuous Insurance Enforcement.
Lockton hails Chinese license award
The China Insurance Regulatory Commission has granted Lockton a Wholly-Owned Foreign Enterprise insurance broking license to operate in China
Adjuster claims 16 day turnaround success on EL/PL claims
Buckley Scott, the specialist construction, engineering and liability loss adjusting company, claims to have significantly reduced turnaround times on all public and employers' liability claims.
PB Week: Bridget, Peter and Martin
There has been plenty of late August and early September activity in the insurance market (and of course the football transfer market) and many will be returning from holiday catching up with the news, some shaking their heads in disbelief, writes Andrew…