Willis Towers Watson
Sciemus recruits Kane founder to head up space insurance
Sciemus has appointed Kane Group founder Paul Aitchison to the position of director of space insurance.
Oman Insurance Company appoints new senior management team
Oman Insurance Company has appointed a new senior management team.
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
No widescale rate hardening at 1/1 renewals
The 1 January reinsurance renewal season has seen large rate increases in catastrophe-exposed and loss-affected contracts, but there has not been wide market hardening.
Market moves: Insurers lead the way in recruitment
As the industry heads into 2012, insurers appear to be the most active in the recruitment space. Leading the way in Chaucer, with five new global hires, and Chubb, which brought in four new faces for the new year. Meanwhile, Tokio Marine added two staff…
Lloyd's Council holds fresh election after Millwater departure
The Council of Lloyd’s will hold another election in the working member constituency following the departure of former Willis president Grahame Millwater.
Nat-cats dominate renewals with modest change on other classes
The volume of catastrophe losses in 2011 from unmodeled or inadequately modelled perils has lead reinsurers to be more forceful in their demand for greater transparency of data and look to sub limit their exposure to manageable levels, according to…
Reinsurers try to limit nat cat exposure
Willis Re says reinsurers are trying to limit their exposure to natural perils after the second worst catastrophe year on record.
Millwater leaves Willis group board
Willis has announced that Grahame Millwater, president of Willis Group Holdings and chairman & CEO of Willis Global, is to retire to pursue other interests.
Willis Re comments on cat modelling guide
Willis Re has commented on the Association of British Insurers guidelines published last week around industry good practice for catastrophe modelling under Solvency II.
New Giles CEO McManus vows to improve operational focus and retention
Incoming Giles chief executive Brendan McManus has vowed to use his experience of running an underwriting operation alongside a broker business to maximise distribution at his new firm.
Review of the year - General insurance: Regulatory dramas
2011, a year dominated by regulatory and legislative change, could yet prove to be a landmark 12 months for the insurance industry.
Regulatory enquiries tops list of directors' concerns
Company directors are beginning to face intensified liability risks in the wake of the ongoing economic crisis, with regulatory investigations and enquiries posing the greatest perceived threat to insurers.
Scotland storm: Friedhelm to produce insignificant insured losses
Windstorm Friedhelm, the storm that battered Scotland and the north of England last Thursday, will not produce significant insurance losses despite reaching some of the highest wind speeds recorded in the affected regions.
Willis Group acquires Broking Italia
Willis Italy, part of global broker Willis Group, has acquired Broking Italia SRL, a specialist in the Italian insurance market.
Willis acquires Broking Italia
Willis Italy has acquired Broking Italia, which specialises in employee benefits and supplementary pension programs.
Talanx licenses Towers Watson software for global risk management
Talanx has purchased Towers Watson's financial modelling and reserving software to harmonise its regulatory capital reporting.
Broker claims unearned work transfer payments are endemic in commercial
Brokers are continuing to take secret payments from insurers and not declaring them to clients, according to a specialist commercial intermediary.
Interview - David Ross: Faster than the rest
David Ross is a man with a plan, pushing Arthur J Gallgaher International up the rankings with a seemingly unrivalled appetite for growth.
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
Market moves: ‘Tis the season for recruiting
As Christmas draws closer, the insurance industry has prepared for the New Year with a raft of appointments. In the broking market, there were moves for Aon and Willis, while Howden added three new faces to its team.
Willis Re report shows rise in motor premuims and fall in claims
UK motor insurance premiums have continued to rise in 2011, with some drivers facing price increases of up to 50 percent, according to an annual review conducted by Willis Re.
McManus named as Giles CEO
Former Willis boss Brendan McManus has been appointed as chief executive of Giles.
Insurers cannot rely on internal models
Two-thirds of insurers aim to use independent experts to validate market risk assumptions in internal models, according to a survey from Towers Watson.