News
India has 0.7% general insurance penetration
India's Finance Minister P. Chidambaram has called on the general insurance sector to increase its penetration across the country.
Thai catastrophe fund has underwritten 800 000 policies
The Thai National Catastrophe Insurance Fund has provided over 800 000 policies over the last year after it was set-up following the Thai floods in 2011.
World Health Organisation: H7N9 bird flu is "one of the most lethal viruses so far"
As the death toll rises to 22 and the virus arrives in Taiwan, the World Health Organisation has given a stark warning.
Collinson sets sights on Aria acquisition
The Collinson Group is to acquire Aria Assistance in a deal that will add £50m gross written premium to its balance sheet.
AA: SoP extension is not good enough
An extension of the Statement of Principles is not a satisfactory solution to flood insurance even on a temporary basis, Simon Douglas, director of AA Insurance has said.
One in five cyclists is invisible to motorists
Motorists fail to notice 22% of cyclists and 4% of jaywalkers, according to research by Direct Line.
London P&I club warns of negative findings
The London P&I Club has warned that reports generated during the club's ship inspection programme show an increase in negative findings in relation to enclosed space entry on board ships.
Northdoor system credited following Torus' managing agency success
IT solutions provider Northdoor has delivered the roll-out of its ‘NdexInsure’ insurance solution for Torus.
Balva policyholders warned to seek alternative cover before renewals
JLT Specialty has warned law firms insured by Balva to take swift action or risk being left in the lurch at renewals.
Xchanging launches mobile salvage sales service
Technology services provider Xchanging has launched a mobile service that provides end-to-end management of salvage sales for the insurance market.
JLT: Balva-insured solicitors must act now
JLT Specialty has urged solicitors that are insured by Latvian insurer Balva to take action now, warning firms that wait until October to switch insurer are likely to face higher insurance premiums.
Guernsey reaps rewards for SII non-equivalence
Guernsey’s decision not to be a part of EU’s Solvency II has strengthened the country’s captive insurance sector – making it the largest in Europe today, according to a report by Timetric.
Ageas strikes deal with Giles-owned Compass
A new three-year partnership between Giles’ network division Compass Broker Services and Ageas UK Insurance is expected to generate £20m gross written premium, according to the firms.
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.