Europe
Regulation: A heavy crown
The downfall of the Financial Services Authority was met with resounding support. However, as its successors take over sceptics ask whether the twin peak model might create more discontent in the industry.
Solvency II: worth the wait?
After many delays, Solvency II implementation is still far from certain. While some insurers have grown disillusioned by the process, others remain keen to see the directive’s benefits come to fruition.
Gallagher criticises SRA over Balva
Gallagher London has described the ban on Latvian insurer Balva underwriting new business in the UK as "another embarrassment for the Solicitors Regulation Authority" due to the insurer's inclusion on the body's approved list of qualifying professional…
Insurance Europe lobbies US over foreign reinsurer tax
Trade body Insurance Europe has written the US Congress regarding proposals to disallow a tax reduction for some foreign affiliated reinsurance premiums.
Consolidation in Polish market likely
Further consolidation in Central and Eastern Europe’s largest insurance market is likely as Poland’s “big five” look to increase their market share, according to analysts.
Supply Chain Council launches model and first risk report
The Supply Chain Risk Leadership Council has published its first emerging risks report, designed to help organisations identify the risks that may have a major impact on their business.
Mutuals can capitalise on changing reinsurance framework
Savvy mutual insurers stand to benefit from changes in the traditional reinsurance market, according to Willis Re.
Balva banned from writing UK business
The Solicitors Regulation Authority is writing to legal firms holding professional indemnity policies with Latvian insurer Balva after it was barred from writing new business in the UK.
Balva banned from writing UK business
The Solicitors Regulation Authority is writing to legal firms holding professional indemnity policies with Latvian insurer Balva after it was barred from writing new business in the UK.
Lack of confidence in financial institutions noted by EU watchdogs in joint report
The Joint Committee of the European Supervisory Authorities today published its first report on Risks and Vulnerabilities in the European Union’s Financial System.
Brokerslink launches employee benefits practice group
International broking network Brokerslink launched a a Global Employee Benefits Practice Group on Thursday.
Blog: Is the client always right?
Barely three months into my new job, I have immersed myself in the challenges it has to offer and am enjoying every step of the journey with my customary “bring it on” attitude to life.
Turkish insurance sector to receive investment boost
Asian and European investors will focus on Turkey's insurance sector in 2013, particularly as a result of government incentives offered in private pension plans, according to Ernst & Young.
Swiss Re increases dividend as Francis joins board
Shareholders Swiss Re shareholders have approved an increase in the regular dividend from CHF3.00 to CHF3.50 per share as well as an additional special dividend of CHF4.00 per share.
Former RSA chairman joins Ace
Ace European has appointed former RSA chairman John Napier to a new role of non-executive chairman of Ace European Group and Ace Underwriting Agencies.
Post magazine – 11 April 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Non-traditional capacity hits Asian market at April renewals
Dynamic capital growth and ample reinsurance capacity resulted in a relatively stable renewal at April 1, 2013, according to Guy Carpenter.
April reinsurance renewal rates were competitive
Increased capital and competition meant similar or falling reinsurance rates in April despite a predicted active 2013 hurricane season, according to corporate stockbroker Westhouse.
Insurers miss opportunity to voice opinions on EU consultation on PPOs
The UK’s general insurance sector has failed to engage with a consultation on setting Solvency II liability rules, despite a European Union recommendation that 20% of the sector should contribute for the study to be credible.
VIG Re sees profit jump 17.8% in 2012
VIG Re reports, the reinsurance arm of Austria’s Vienna Insurance Group a 17.8% increase in pre-tax profit to €24.3m, for 2012
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
VIG acquires majority of QBE Makedonija
Austria's Vienna Insurance Group says is will become the number one insurer in the Macedonian market, following its acquisition of a majority stake in QBE Makedonija.
Cooper Gay buys out Chilean JV partner
Broker Cooper Gay has moved to a 100% shareholding in Cooper Gay Chile S.A. following the acquisition of the remaining 49.99% shareholding from Servicios Security SA.
Aon signs eight year deal with Manchester United
Despite no longer being the main kit sponsor from the 2014/15 season, Aon has agreed a $230m sponsorship deal for Manchester United's training ground and kit, and also to become a tour partner.