News
Hong Kong gears up for Solvency II style regime
The Office of the Commissioner of Insurance in Hong Kong has hired KPMG to help produce a framework for a risk-based capital regime by the end of 2013.
Insurance premium tax ruling bad for business and EU policy
A European court ruling on the way insurance premiums are taxed will burden insurers with increased costs and and undermine the EU's attempts to create a single market for insurance, according to law firm Pinsent Masons.
Primark to review building integrity following Bangladesh accident
Clothing retailer Primark has confirmed that one of its suppliers occupied space in the building which collapsed in Bangladesh on 24 April.
Covéa uncovers Dudley driver's false claim
An Audi driver from Dudley who made a four-figure insurance claim for a fictitious crash has been ordered to undertake 120 hours unpaid work.
HNW motor insurer to target ‘super-younger’ demographic
Aqueduct Underwriting’s high net worth and specialist motor product Aurum has noted a gradual but significant demographic shift to ‘super-younger’ drivers in spite of the continuing economic hiatus in the UK.
XL promotes Vinkenfluegel to global field engineering leader
XL Group has promoted Martin Vinkenfluegel to lead its global asset protection services field engineering team.
Axa launches tradesman policy on Power Place
Axa Commercial Lines has launched its tradesman and professional policy on Power Place.
Admiral profitability 'under pressure'
Admiral’s “unprofitable foreign growth” does not compensate for the “fast-declining” UK profitability, according to a scathing analysts report.
Collinson to seal Aria deal in three months
The Collinson Group director David Evans has said the firm's plan to acquire Aria Assistance stretch back as far as Aria's management buyout from Europ Assistance last year.
CII report highlights insurers' role in protecting public interest
The general insurance sector has made major strides to improve its role in protecting the public interest, according to a new report by the Chartered Insurance Institute.
Ageas appoints Broughton to group board
Ageas has appointed Steve Broughton as a non-executive member of its group board of directors for a three-year period, subject to approval by the National Bank of Belgium.
Broughton appointed to Ageas group board
Ageas has appointed Steve Broughton as a non-executive member of its group board of directors for a period of three years, subject to approval by the National Bank of Belgium.
Helvetia completes acquisition of Chiara Assicurazioni
Helvetia has completed the acquisition of 51% of Italy's Chiara Assicurazioni.
Liability key concern for brokers following Consumer Act
Fears of being exposed to liability for the delivery of inaccurate risk data is the most pressing concern for brokers following the implementation of the Consumer Insurance Act.
British Gas joins forces with Axa to launch home insurance offering
British Gas is offering home insurance for the first time After joining forces with Axa Direct & Partnerships.
Towergate bolsters Northern broking teams
Towergate has recruited Willis’ corporate Northern region director to head up its own business for the region, as well as appointing a new managing director for its Newcastle operation.
Admiral reports 9% fall in UK turnover
Admiral chief executive Henry Engelhardt has said that now "is not the right time to grow" its market share in the UK after turnover fell 9% to £470m (Q1 2012: £518m) in the first quarter of this year.
R&Q sees total 2012 income up 41%
Randall and Quilter has reported total group income of £52m for the year ending December 31, up 41% on 2011’s equivalent figure of £36.8m.
R&Q plots Bermuda move
Randall & Quilter is planning to redomicile its holding company in Bermuda, moving out of the UK.
Sichuan earthquake to have low impact on insurance market, says Fitch
The 6.6 magnitude earthquake that rocked Sichuan province at the beginning of the week will have a small impact on the Chinese insurance market according to analysts Fitch.
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.