Europe
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.
Head of Gibraltar's FSC departs
Marcus Killick, chief executive officer of Gibraltar’s Financial Services Commission has resigned from his position to pursue a career in the private sector.
Zurich confirms dividend and re-elects Maechler
The Ordinary General Meeting of Zurich Insurance Group yesterday approved an unchanged dividend of CHF 17.00 per registered share, resulting in a payout ratio of net income of 70%.
Broker complaint handling under spotlight
The European Insurance and Occupational Pensions Authority has today launched a public consultation on guidelines regarding complaints-handling by insurance intermediaries.
Eiopa unveils complaints handling guidelines for brokers
The European Insurance and Occupational Pensions Authority today launched a public consultation on guidelines regarding complaints-handling by insurance intermediaries.
Extended winter caused billions of dollars of damage in March
France, Germany, the Ukraine and Japan were worst hit by claims in March as snow and cold weather continued throughout the month, according to Impact Forecasting's latest research.
APC launches broking team for Europe, UK and international risks
Commercial insurance underwriting agency, APC, has launched a London market broking team to place risks for regional brokers that cannot be facilitated under its regular binding authorities.
Ace unveils life sciences cover for European businesses
Ace Group will offer global life science cover for companies in continental Europe as part of its strategy to further build its casualty business in the region.
IMDII: Full disclosure
The second Insurance Mediation Directive could fundamentally change the way European brokers conduct their business. But will it be kicked into the long grass? Edmund Tirbutt investigates.
Leader: Beyond a joke
“It is understood European decision makers are poised to broaden the scope of the Gender Directive – which has also impacted the setting of premiums in the life and annuities markets – to cover cats and dogs.”
XL restructures Asia Pacific operations after review
XL Group plans to restructure its Asia Pacific unit, integrating operations in Australia, Singapore, Labuan, Hong Kong and China.
Crawford hires Singapore MD from Russian insurer
Claims management firm Crawford & Company has appointed Andrew Tait as managing director of its Singapore office.
VIG posts record profit for second year running
Vienna Insurance Group posted a 5.1% increase in profit before taxes to €587.4m in 2012, the highest profit in the company's history.