Europe
Post magazine – 7 March 2013
In this week's Post, analysts have cast doubt on the Co-Operative Bank’s ability to offload its general insurance business. Sources have suggested any plans to sell its general insurance business could be challenging after a Financial Times report…
International: Are you protected?
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
Kennedys hires Clyde & Co energy and construction partner
Kennedys has grown its international energy team with the hire of Graeme Baird from Clyde & Co.
IUMI calls for greater access to inspection data
The International Union of Marine Insurance has written to the Paris Memorandum of Understanding on Port State Control to call for an increase in the level of inspection data available to underwriters.
Miller raids rivals to grow French reinsurance team
Miller has hired three senior reinsurance brokers in a bid to increase its foothold in the French market.
Turkish GI growth set to continue
Turkish non-life insurers are set to benefit from government initiatives and increasing demand from younger generations, according to a comment published today by Fitch.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days
JLT increases revenue by 7% and unveils new transformation programme
JLT increased revenue to £880.1m in 2012 with 7% coming from organic growth and 1% through acquisitions. This was offset by 1% foreign exchange movements compared to 2011.
Willis promotes Wemyss as Pickering exits
Tony Wemyss will become broker Willis's regional CEO of the group's Central and Eastern Europe, Middle East and Africa operations from 1 April.
Towers Watson adds two brokers to crisis management team
Towers Watson has added two brokers to its crisis management broking and consultancy operation.
Coface premiums up 3.1% after strong Apac and Latam growth
Credit insurer Coface posted a 6.6% rise in net profit (excluding restructuring costs) to €129m in the first full year results since its re-brand.
Marsh unveils UK and Ireland large corporate unit
Marsh has created a single division to serve mid-size and large corporates across the UK and Ireland, along with multinational clients in the region.
Willis makes European captive hire
Willis has appointed Lesley Harding as chief executive officer of the Willis Global Captive Practice in Europe.
Willis appoints new European captive head
Lesley Harding has been named chief executive officer of Willis' global captive practice in Europe, effective 1 March.
European M&A opportunities
A range of dynamics influenced mergers and acquisition activity across the CEE in 2012 but as Leonid Zubarev explains the CEE region remains attractive to investors.
DLG posts improved international COR after reserve releases
Direct Line Group saw a return to underwriting profit for the 2012 financial year as it posted a combined operating ratio of 99.2%.
Data Protection: Regulation frustration
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
DLG improves combined ratio to 99.2%
Direct Line Group has reported a 9.3% rise in operating profit for ongoing operations to £461.2m (2011: £421.9m) including an underwriting profit of £28.2m compared to a loss in 2011 of £72.3m and a combined operating ratio of 99.2% (2011: 101.8%).
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
Solvency II delay is "golden oppurtunity" to solve run-off issues
The delay in the implementation of Solvency II offers insurers a golden opportunity to deal with their outstanding run-off and US APH liabilities, according to Ruxley Ventures.
Post magazine – 28 February 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Insurers must embrace mobile to bring "dramatic change" in acquisition ratios
As acquisition costs remain high insurers must invest in mobile and social media channels to keep and capture new customers, according to Capgemini’s World Insurance report.
Aviva to sell Russian life business for €35m
Aviva is selling its Russian life and pensions operation to Blagosostoyanie, a non-state pension fund in Russia, for a consideration of €35m (£30.17m).
Guy Carpenter names head of European casualty strategy
Guy Carpenter has appointed Georg Fuelles head of European casualty strategy.