News
Ex-army captain hired to write war, terrorism and political violence at XL
XL Group has appointed Daniel O’Connell to underwrite war, terrorism and political violence within the firm’s new crisis management team.
Axis Capital sees S&P A+ affirmed
Bermudian insurer Axis Capital has been backed by Standard & Poors, seeing its ratings affirmed.
Fatal air balloon crash in Turkey leaves two dead
A crash involving two hot air balloons in Turkey on Monday left two dead and 23 injured.
China's watchdog encourages PE firms to invest in insurers
China’s insurance watchdog will permit limited partnership equity investment enterprises to invest in the countries insurers, in a bid to increase the flow of private funds into the insurance industry.
Apil: Seriously injured people risk being short-changed in government plans
Severely injured people could face having their damages cut further under government proposals, the Association of Personal Injury Lawyers has claimed.
Allianz CEO Torrance calls for action on liability rates
Insurers’ liability books need to show profits if firms are to make a reasonable return on capital, Andrew Torrance, Allianz’s chief executive, said.
Allianz achieves record revenue in Q1
Allianz achieved total revenues of €32bn in the first quarter of 2013 the highest quarterly total revenues in its history, and an increase of 6.6% on the first quarter of 2012.
RSA on the hook for Genoa ship loss
RSA is on the hull cover for The Jolly Nero, the Messina Line ship that crashed into a port tower in Genoa, Italy last month, Insurance Insight can reveal.
FCA viewed as re-brand exercise by brokers surveyed by UKGI
The Financial Conduct Authority is seen as little more than a re-branding exercise, as opposed to a change in regulatory focus, according to brokers surveyed by compliance consultancy UKGI.
Equity axing 200 jobs in motor focused re-launch
Equity Insurance Group is to cut 200 roles following its acquisition by Jeff Greenberg-led private equity house Aquiline.
Axa leads the way in Brokerbility satisfaction survey
Axa has been rated the highest performing firm among Brokerbility’s seven key insurer partners in the collective broking organisation’s bi-annual satisfaction survey.
Marsh offers D&O on "each single claim" basis
Marsh has launched a new suite of D&O policies, created in conjunction with eight insurers, in response to growing reputation and regulatory risk.
Allianz unveil improved COR for 2013 Q1
Allianz UK has reported that gross written premium in the first quarter of 2013 was up by 7% at £506.6m over same period in 2012 (Q1 2012: £473.6m).
Clements Worldwide launches web-based marketplace for UNFCU members
Solutions provider Clements Worldwide has launched a web-based marketplace designed to deliver insurance protection to all of United Nations Federal Credit Union’s 100 000 members around the world.
Insurers slammed in Irish data protection report
The prosecution of three large insurers for breaking data protection laws feature highly in the 2012 annual report by Irish Data Protection Commissioner, the Irish Independent reported.
Uninsured driver sees rare Lamborghini seized in Richmond
The driver of a rare Lamborghini has seen his high performance vehicle seized after the motorist was found to have no insurance having been caught speeding by police.
Scottish Water pipeline put in doubt after liability agreement failure
Scottish Water has come in for criticism after its failure to secure a standard liability agreement resulted in work on a £2.65m pipeline being abandoned.
Volkswagen signs deal with UK General
Volkswagen Financial Services has signed a deal with UK General Insurance that aims to give VW Group customers free access to approved repairers in the event of an accident.
Hannover Re to reinsure energy savings warranties
Hannover Re has joined with KlimaProtect to develop an energy savings warranty insurance product for industrial enterprises in Germany.
Bluefin fails to recruit Fusion pair
Bluefin chief executive Stuart Reid's bid to recruit Fusion Insurance directors Nick Wright and Stewart Gardiner has collapsed.
Miliband urges industry to stick with Europe
Europe will deliver a competitive advantage for businesses, former foreign minister David Miliband has claimed.
Gallagher Heath unveils restructure
AJ Gallagher has created three new divisions within its Gallagher Heath Insurance Services in a bid to reflect its chosen distribution channels – direct, intermediary and partnerships.
Keelan Westall expansion plans boosted by Gallagher acquisition
Keelan Westall managing director Wayne Tonge is aiming to “triple its income within two years” as it expands its e-trading offering, following the wholesale broker’s acquisition by Arthur J Gallagher a fortnight ago.
Lloyd’s broker Safeonline names new COO
Cyber and technology broker Safeonline has recruited a former consultant and Cooper Gay Swett & Crawford business development boss to serve as partner and chief operating officer.