AIG
XL scoops bulk of solicitors’ PI market as fewer join assigned risk pool
As capacity in solicitors’ professional indemnity increases, brokers predict XL will be the biggest player in the market, replacing 2010’s top underwriter Chartis.
PI to be compulsory for professional body members in Italy
Professional indemnity insurance is to be made compulsory for all members of recognised professional bodies in Italy following new legislation.
AIG reveals $972m payment to US Treasury after MetLife deal
AIG has announced that it had paid the United States Department of the Treasury $972m to reduce the liquidation preference on one of the special purpose vehicles created as part of the government's assistance to AIG.
Market moves: All change at Zurich and Willis
Following a slow period, large insurers made a number of key appointments this week, including major moves at Zurich, Allianz and RSA.
NIG starts aggressive recruitment drive
NIG has taken on Louise Field, pictured, to be London area underwriting manager, while Ruth Owen from Chartis joins NIG as area business development manager.
LV snaps up ex-Chartis boss
LV has appointed former Chartis boss Kevin Wildman as branch manager for its Exeter office.
Broker report reveals Aviva, Chartis and RSA drop in underwriting service
Insurers must do more to boost satisfaction among brokers, according to a Brokerbility survey that suggested Axa is currently the only firm performing above the 80% approval benchmark.
Interview - Ann Haugh: Making the right decisions
UK CEO of Zurich Global Corporate Ann Haugh has never been averse to taking risks and reveals her determination to grow the business is as strong as it is strategic.
Market moves: Insurers lead the recruitment charge
With the final quarter of the year kicking off this week insurers were the most active recruiters with a raft of hires and promotions. XL Insurance added three new members of staff to its burgeoning team in Europe, while a number of other players seized…
Top 100 UK insurers supplement: Steadying the ship
After a tough 2009, the top insurers have managed to maintain GWP levels in 2010 but snapping at their heels are a few new entrants doing their best to prove there is still money to be made in general insurance.
Lloyd’s pips AIG in surplus lines
The surplus lines industry suffered an unprecedented fourth year of declining premiums in 2010 and Lloyd’s knocked AIG off the top spot, according to AM Best.
Market moves: Bucking the trend for UK employment
With September in full swing, announcements of moves around the market are arriving thick and fast. After the dearth of recruitment news in August, disciplines across the industry spectrum appear busy luring expertise from competitors, promoting from…
IFB head Glen Marr to step down to join motor insurer
Glen Marr, director at the IFB will be leaving the organisation in December to join the board of First Central Insurance Management as director of fraud.
BIS Countdown: Sir John Grieve - In the eye of the storm
As deputy governor of the Bank of England, Sir John Gieve was in the centre of the worst financial crisis for a century. What has hindsight revealed and what are his views on the subsequent regulatory shake-up?
Aspen pulls out of solicitors' PI
Aspen Risk Management will not write any more solicitors’ professional indemnity for the "foreseeable future".
People moves - 1 September 2011
A round-up of people moves and new appointments in the industry, as featured in the 1 September 2011 edition of Post.
Takaful insurance: A future full of potential
Despite the failure of the first domestic Shariah compliant insurer, the Takaful market is predicted to have a great future. Sam Barrett looks at its potential for growth.
Market update - High net worth: Time to raise rates in HNW?
Rates in the high net worth market are failing to reflect the risks posed, despite high claims costs. Chinwe Akomah reports on a sector that is starting to come under pressure to deliver results.
Ace makes double environmental appointment
Ace has appointed Robert Wade and Hayley Dixon as underwriters in its environmental liability team.
Ace appoints accident and health team from Marsh, Chartis and Aon
Ace European Group has appointed three new additions to its accident and health team.
Insurer estimates hit £750m as city riot damage racks up
RSA, Aviva and Axa are likely to incur the biggest losses from commercial property claims with the latest riot bill estimate hitting £750m, as Post went to press.
Solicitors’ PI squeezed further as Chartis exits new business
Chartis UK has blamed the high volume and cost of claims for its decision to stop writing new solicitors’ professional indemnity business this year but has not ruled out reversing its policy in the future.
News analysis - Haste departure: Less Haste, more concern?
After nearly a decade as CEO of RSA, Andy Haste has announced he is to step down. Amy Ellis gets the market’s reaction and ponders his next move.
Insurer estimates hit £750m as city riot damage racks up – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories which include how RSA, Aviva and Axa are likely to incur the biggest losses from commercial property claims, based on market share, as the latest riot bill estimate hits …