News
Romania brings financial services under single regulator
Romania is to bring the supervision of insurance, pensions and the stock exchange under the remit of a new financial watchdog.
Analysts bullish on Tryg's Q1 prospects
Analysts at Berenberg Bank have said they expect Nordic insurer Tryg to post a combined ratio of 91.1% for the first quarter, on the back of benign winter weather across Scandinavia and favourable investment markets.
2013 British Insurance Awards shortlist announced
Today Incisive Media insurance division editor-in-chief Jonathan Swift is proud to unveil the nominees for the 2013 British Insurance Awards.
Factory building collapse leaves over 100 dead in Bangladesh
The collapse of an eight-storey building in Bangladesh’s capital Dhaka has left 149 people dead and more than 1 000 people injured.
Co-op exits Lloyds branch deal
The Co-operative Group has withdrawn from plans to purchase 632 branches of Lloyds Bank, having first announced a deal in December 2011.
Brokers urged to be mindful of new legal act
Insurers need to keep clearer records to aid in potential claims disputes following the introduction of the Consumer Insurance Act, according to industry observers.
"Stagnating" Austrian market challenging for insurers
Austrian insurers face a challenging domestic market but should benefit from their strength in Central Eastern and South-Eastern Europe, Fitch said.
Law Society defended in face of petition demanding new leadership
Claimant solicitor bodies acknowledge society is in ‘very difficult position’
Axa buys 50% of Chinese insurer
Axa has agreed to buy 50% of general insurer Tian Ping for €485m ($631m) in China.
Travelers Q1 figures show upturn for US P&C business
Positive results at property casualty insurer Travellers reflect an upturn in the US market according to a Westhouse insurance analyst.
Food Standards Agency publishes final horsemeat results
The Food Standards Agency has published the results of its final tests for horsemeat in UK beef products before launching into a new quarterly test regime in June.
Quindell expands ranks with Crusader acquistion
Quindell Portfolio has acquired motor claims management specialist Crusader Assistance Group Holdings in a £9m deal, subject to regulatory approval.
Moody’s downgrades Towergate after patchy 2012 financial results
Towergate’s financial results for 2012 have revealed vastly divergent performances among its four main insurance divisions, ranging from a 24% year-on-year drop in earnings in its network arm to a 17% rise in underwriting earnings.
Long-serving staff hardest hit by Aviva’s latest round of job cuts
Aviva staff face renewed uncertainty following the insurer’s decision to axe 2000 jobs globally, eight months after 800 jobs were put at risk.
Simon Machell on six months gardening leave
Simon Machell, formerly CEO of higher growth markets at Aviva, is on six months gardening leave after leaving the insurer.
Axa targets 15% growth in Thailand
Axa is targeting to continue its run of good premium growth in Thailand, but 15% will be half of 2012's growth figure.
China Taiping's restructure moves forward
The Ministry of Finance and the Chinese Insurance Regulatory Commission have given China Taiping Insurance Holdings' parent TPG Group approval to begin a restructure of its insurance businesses.
RIMS offers help for Chinese market
The global risk management society RIMS has released a report on implementing an insurance program in China.
Europe's credit risk remains high as US and Asia fall
Credit risk is still high in Europe but the outlook is favourable in emerging Asia and in North America, according to Coface.
Swiss Re aims to show impact of quake risk on Latam communities
The Swiss Re Foundation and the GEM Foundation have unveiled a three-year collaborative project to create the first picture of seismic risk in Latin America to incorporate social and economic factors.
New model can highlight political violence exposure, says Towers Watson
Professional services firm Towers Watson has unveiled its new Sunstone model, designed to give firms a better understanding of their terrorism exposure.
Post Claims Club: Online experts blast insurers for poor social media performances
Insurers are “petrified” of engaging with their customers through social media, according to Jonathan Callcut, chief sales officer at cloud-based social commerce firm Reevo.
Post Claims Club: Claims forms need a rethink to obtain honest answers
Insurers’ claims forms encourage dishonest answers from policyholders, according to Consumer Intelligence chief executive Ian Hughes.
Post Claims Club: London market should follow other sectors’ lead in implementing standards
The London market could benefit from the introduction of a road traffic accident portal-like electronic system with fixed timelines and costs consequences for delays in decision making, according to Martin Thomas, chief claims officer at Aon Risk…