News
Bupa Australia to merge with rival MBF
The policyholders of Australian health fund MBF have voted in favour of a proposed merger with Bupa Australia.
Hiscox chair hails discipline as GWP dips in first quarter
Hiscox this morning said it had had "a good start to the year", acclaiming that its strategy of growing specialist regional businesses to balance the more volatile international business is working.
2008 Biba conference special
Insurance industry leaders talked to Post's Alwynne Gwilt at this year's BIBA conference in Glasgow ...
Peter Graham appointed L&G general insurance MD
Legal and General has appointed the former chief executive of Towergate, Peter Graham, as managing director of its general insurance business. He replaces former MD Jane Dale who left the business last autumn and is understood to presently be travelling.
AIG downgraded by S&P
AIG has been downgraded by US ratings agency Standard and Poors after posting a $7.8bn loss in the first quarter of the year.
Data security is top priority in electronic trading, say Kewill
Security is a major issue in electronic trading, according to a recent survey.
Axa Corporate Solutions reports £1.4bn turnover
Axa Corporate Solutions has reported a turnover of €1.8bn (£1.42bn) during 2007 marking an increase of 7%.
Allied World posts solid Q1, retains more
Bermudian (re)insurer Allied World Assurance Company has reported operating income of $128.0m, for the first quarter 2008 compared to operating income of $120.4m, but has pointed to increased competition in all its operating units.
AIG loses $7.81bn in Q1, to raise $12.5bn
Global insurer American International Group has reported a net loss for the first quarter of 2008 of $7.81bn and unveiled plans to raise $12.5bn in additional capital.
Benfield to open office in Puerto Rico; Piccinoni to lead
Benfield, the UK reinsurance broker, said it will open an office in Puerto Rico. Andres Piccinoni has been appointed as the chief executive of Benfield Puerto Rico.
Willis launches new captive operation
Willis has opened a new captive management operation called Willis Management.
CCV announces Midlands acquisition
Cullum Capital Ventures has acquired Walsall-based broker Cox Lee and Co.
European power firms at risk of being underinsured, warns Marsh
The combination of rising demand and insured costs in Europe’s electricity sector could risk leaving power utilities firms underinsured Marsh has warned.
Westinsure reassures members over future
Westinsure’s managing director has written to shareholders and members promising they will “be the first to hear” if the company is sold.
Novae expands specie and cargo team
Novae Syndicate 2007 has appointed Keith Nichols to head up its specie and cargo units.
Aon Re buys in Peru
Aon Re Global has announced it has acquired Peruvian reinsurance intermediary Cosegur Re
Gocompare welcomes increased visibilty of aggregators
Hayley Parsons, managing director of Gocompare.com has responsded to the Financial Services Authority review by saying : “It is reassuring to know that the FSA has looked into the insurance comparison market and broadly given it a clean bill of health…
ABI says aggregator review must go further
The Association of British Insurers has called for the Financial Services Authority to extend its review of aggregator sites to cover all financial services comparison websites.
Ford appoints RSA as branded insurance provider
RSA has been appointed as the UK provider of branded car insurance for Ford, Mazda, Jaguar, Volvo and Land Rover.
Confused.com warns against over-regulation
Confused.com has welcomed the Financial Services Authority review of the aggregator sector whilst warning against excessive regulation.
Markel taps into social welfare for new risk service
Markel's retail division has launched a risk management service in conjunction with care and health consultancy Janjer.
New Fellowship for Insurance launched by City think-tank
A new Fellowship for Insurance will be launched by the London-based think-tank, the Centre for the Study of Financial Innovation on 14 May. The first Generali-supported CSFI Fellow is Shirley Beglinger from the Shires Partnership which specialises in…
Biba calls for tighter regulation of aggregators
The British Insurance Brokers’ Association has called for the Financial Services Authority to go further in its review of insurance comparison sites.
FSA issues aggregator report
A Financial Services Authority today said an assessment of the insurance comparison website market has found evidence of "both good and bad practice", but added it is looking for all websites to ensure that users are treated fairly.