News
Quebec train disaster claims force railway operator into bankrupty
Montreal, Maine & Atlantic Railway, the operator of the runaway oil train that exploded and killed 47 people in a Quebec town, has filed for bankruptcy in Canada and the US because of potential liability from the crash.
LMA to join government maritime security committee
The Lloyd’s Market Association has been invited to join a new government committee monitoring security at UK ports and harbours.
Catlin sees pre-tax profits tumble 37% after investment returns plummet
Catlin has seen its H1 profits scythed by more than a third following a steep drop in its net investment income.
Aviva's CEO commits to Asia
Aviva's CEO Mark Wilson has said the business is "making progress in Asia with a more focused approach concentrating on China and South East Asia."
HKFI celebrates 25th anniversary
The great and good of the Hong Kong insurance industry met last night (8 August)at the Conrad hotel in Hong Kong to celebrate the 25th anniversary of the Hong Kong Federation of Insurers.
Kiln hikes name syndicate forecasts
Kiln has boosted its return on capital forecasts for Lloyd’s names-backed non-life syndicates following strong performance.
Crawford names Inter Resolve CEO as business performance head
Crawford & Company has recruited Simon Drew, the chief executive of injury claims mediator Inter Resolve, as its new business performance director for Europe, the Middle East, Africa and the Asia Pacific regions.
Property Federation calls for Flood Re to cover SMEs
The British Property Federation has called for SMEs to be included in the Flood Re directive.
Howden acquires employee benefits and pensions firm
Howden Insurance Brokers, part of Hyperion Insurance Group, has acquired employee benefits consulting and insurance broking service provider Workplace Pension Solutions.
Aviva preaches 'reallocation' over restructure for 2014
Aviva’s group chief executive has vowed the insurer will seek to retrain and reallocate staff as it seeks to continue making cost savings next year.
BLM lands sole Network Rail contract for third-party claims handling
Network Rail has appointed insurance and dispute resolution law firm, Berrymans Lace Mawer, as its sole supplier of claims handling and litigation services relating to public liability and property owners’ liability claims.
Axa fails in first Accident Exchange Autofocus retrial before a judge
Axa has been made to pay Accident Exchange in the first retrial involving fraudulent Autofocus evidence.
Costa Concordia removal to cost $1.1bn says Munich Re
The loss for the stricken ship Costa Concordia continues to grow with Munich Re revealing removal costs for the wreck are likely to exceed $1.1bn.
Ace appoints Russell in new senior PI role for UK and Ireland
Ace Group has appointed Geoff Russell as regional senior professional indemnity underwriter for the UK and Ireland.
QBE promotes Quinn from Ireland to lead professional national practice
QBE has appointed Simon Quinn as underwriting manager for its professional and financial Lines national practice.
QBE appoints Quinn to lead professional and financial practice
QBE has appointed Simon Quinn as underwriting manager for its professional and financial Lines national practice.
Allianz grows profits 34% in Asia
Allianz grew its profits 34% in the first half of 2013 compared to the same period of 2012.
Insurance market is shaping legal M&A agenda
Professional indemnity insurers are shaping the UK legal sector as they influence law firm mergers and acquisitions, according to Nigel Wallis, partner at law firm advisers O’Connors.
Sabre launches into telematics supported by Wunelli and Open GI
Motor insurer Sabre has partnered with telematics solution provider Wunelli to launch its first telematics product – Drive Smart.
Ten adds six new members
Commercial broker network Ten Insurance has bolstered its ranks with six new members during the last three months.
ING’s European IPO draws nearer while profits fall
Dutch financial group ING continues to prepare for the public float of its European insurance business with plans to separate ING US from ING Insurance to speed up its initial public offering.
ING’s European IPO draws nearer while profits fall
Dutch financial group ING continues to prepare for the public float of its European insurance business with plans to separate ING US from ING Insurance to speed up its initial public offering.
Broker develops motor fraud reduction service
DNA Insurance Services has launched a motor trade tracker service designed to reduce insurance fraud, insurer claims exposure and uninsured vehicles.
Swiss Re net income soars to $786m in Q2 2013 despite nat cat hit in P&C
Swiss Re this morning reported net income of US$786m (Q2 2012: US$83m)in the second quarter of the year on premiums earned of $6.8bn (Q2 2012: US$6.1bn).