News
Fitch: key challenges in Russian insurance sector
Fitch Ratings says the Russian insurance sector continues to be challenged by low market capitalisation, inability to meet solvency requirements, and variable level of consistency in the statutory financial reporting. The sector also suffers from a lack…
ABI responds to government changes
The Association of British Insurers has welcomed today’s government announcement that it plans to clamp down on uninsured drivers. The ABI said the move could significantly reduce the level of uninsured driving and improve road safety.
Endurance takes $85m Rita hit
Bermudian (re)insurer, Endurance Specialty Holdings has announced its initial estimates of losses, net of reinsurance, reinstatement premiums, and tax benefits related to Hurricane Rita to be approximately $85 million. Endurance estimates its gross…
PXRE to tap the markets for $475m
PXRE Group Ltd today announced it would be raising $475m in new capital by way of a $100m common stock offering and a $375m private sale of preference shares. <The NYSE-listed Bermudian reinsurer said it has agreed to sell 375,000 of its series D…
Axa brings Hodge on board
Axa has hired a new strategic partnership manager with direct responsibility for establishing and developing relationships with key strategic partners.
Chaos predicted under new VAT rules
New VAT rules will have detrimental financial impact on the UK’s insurance and outsourcing sectors, unless EU rules are changed, a leading firm has warned.
BIBA welcomes FSA industry review
The British Insurance Brokers' Association has today welcomed the review of the general insurance regime, as announced by Clive Briault, Managing Director, Retail Markets, FSA, at last week's Chartered Insurance Institute Annual Conference.
Fitch affirms QBE’s ratings after acquisition
Fitch Ratings today affirmed the Long-term rating 'A' rating of QBE Insurance Group. At the same time, the Insurer Financial Strength ratings of QBE's main underwriting subsidiaries were also affirmed at 'A+'. The Outlook for all the ratings is Stable…
AEGIS London completes first payments under new programme
Associated Electric and Gas Insurance Services London, the UK-based subsidiary of AEGIS, has completed the first round of payments due to its members under its recently announced Premium Credit Programme.
Sixteen million motorists at risk
As many as 16 million UK motorists are risking accidents by failing to have their eyesight tested on a regular basis, according to a new survey.
Moorhouse sets up academy
Welsh broker Moorhouse Group has launched a new in-house training academy to effectively train its expanding workforce and comply with FSA regulations.
ABI calls for delay over VAT for insurers
The Association of British Insurers is urging the tax authorities and Treasury to mitigate the impact of new VAT rules on outsourced insurance services by delaying their implementation and using their discretion not to penalise the customers of insurers.
Katrina & Rita knock PXRE for $230m-$320m 3Q loss
Bermudian property catastrophe reinsurer PXRE has announced that its preliminary estimate of the net impact from Hurricane Rita is between $30 million and $40 million, after tax, reinsurance recoveries on its outwards reinsurance program and the impact…
Axa UAE manager wins CII award
Dubai-based Rajagopal Sukumar, a 30-year-old assistant technical manager with Axa Insurance UAE, was...
Winners and Losers: Post Magazine's monthly round-up of job cuts and gains
Benfield formally launches its new primary broking operation, Benfield Corporate Risk, with 120 staf...
Youth market must ready itself for Age Discrimination Act
Businesses operating in the youth market face the biggest problems in meeting the requirements of th...
Axa to review broker relations
With Axa Insurance reporting stable growth in its interims, chief executive Peter Hubbard spoke with Ralph Savage on the group's performance and how he plans to spread the 'Axa way' outside the company walls
What the papers said this week
Metro Britons are more likely to be burgled on a Wednesday than any other day, researchers say. Fri...
Insurers in call centre brand warning
UK insurance companies may be risking their brand equity, customer loyalty and, ultimately, their s...
Appointment at UK and Ireland Insurance Services
UK and Ireland Insurance Services has boosted its Altrincham team with the appointment of David Burg...
Appointment at Towergate Partnership
Towergate Partnership has made Nick Houghton regional sales director for northern England and Scotla...
Standard and Poor's lowers its public-information assessment
Standard and Poor's has lowered its public-information Lloyd's Syndicate Assessment on Advent's synd...
European insurers support ABI's criticism of EU directive
European insurers have come out in support of the Association of British Insurers' criticism of the ...
Claims trends from the front line
Claims experts working at the front line will outline how they see claims trends developing in the n...