Europe
RSA's UK profit falls 37% as commercial losses take toll
RSA blamed adverse weather in the first half of 2012 and a weak marine and commercial liability performance on UK underwriting profit tumbling to £39m (2011: £62m) while the combined ratio was 98.2% (2011: 97.3%).
RSA increases premium by 5% and cuts dividend
RSA Group has reported operating profit of £684m (2011: £727m) for 2012 including an entirely flat underwriting result of £375m.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Aviva to sell Turkish unit say market sources
British insurer Aviva has tasked Barclays with selling its Turkish unit Aviva Sigorta, according to Reuters.
Marsh restructures to better serve large corporates
Marsh said today that plans to merge several business units “to further focus on meeting the evolving needs of its largest clients worldwide”.
Clements grows European footprint with Italsure acquisition
Insurance service provider Clements Worldwide has acquired UK-based expat insurer Italsure.
'Fully-valued' RSA on course for 95% COR
A poor claims experience on RSA's Motability book will see the insurer pushing for "significant rate increases" as it renegotiates the three-year contract this year.
Zurich and Generali linked with Spain's "bad bank"
Italy’s Generali and Switzerland’s Zurich will invest in a Spanish bank set up by the government to manage toxic property assets, according to Reuters.
AIG hires EMEA large limits exec
AIG has appointed Sami Sayegh as large limits executive, property for Europe, Middle East and Africa.
Ace's Clabby to deliver keynote at ISE 2013
Insurance Insight has confirmed the first speakers for its 2013 Insurance Strategy Europe conference.
Bahrain a "gateway" to Gulf region
A failure to aggressively market itself has hindered Bahrain’s growth as a global insurance sector, according to Kamal bin Ahmed Mohammed, head of the country’s economic development board.
Insurance Europe slams financial transaction tax
The draft directive for a financial transaction tax in eleven EU states will have a negative effect on insurers, their customers and the EU economy, according to trade body Insurance Europe.
Winter Sports: A downhill market?
With the Winter Olympics only a year away, winter sports are seeing a boost in popularity. Anna Pitton investigates how the insurance market is responding and asks where claims are likely to occur.
Coface restructure brings European branches under control of French regulator
French credit insurer Coface said today it had simplified and streamlined its European credit insurance activities in preparation for incoming Solvency II regulations.
Zurich GI profit falls after Sandy and German 'system error'
Operating profit in Zurich's general insurance business dropped by $150m to $2.1bn year-on-year in 2012 after above average catastrophe and weather-related losses offset gains made through tighter underwriting discipline and expense management.
Zurich GI profit falls in 2012
Zurich blames weather losses for fall in profitability, but saw increase in premiums and is confident German reserving problem was a one-off.
Zurich proposes new board members
Zurich Insurance's board of directors has proposed the re-election of Susan Bies, Victor Chu and Rolf Watter at its annual general meeting on 4 April 2013.
AIG launches pan-European D&O cover
AIG has launched a European directors and officers’ policy which is says responds to important shifts in current risks to directors and officers, as well as evolving corporate governance demands.
Willis reveals $446m net loss
Global broker Willis recorded a net loss of $446m for the 2012 financial year, in stark contrast to the previous year’s $203m profits.
Steve Gordon joins Henderson as marine director
Marine specialist Steve Gordon has been appointed as associate director by Henderson Insurance Brokers.
AIG appoints EMEA commercial president
Emmanuel Brulé has been appointed president of commercial Insurance, EMEA, at American International Group.
Insurance Europe publishes Solvency II helper tab
Insurance Europe has published a helper tab to assist insurance companies that are taking part in the technical assessment currently being run by the European Insurance and Occupational Pensions Authority.
Top five European news stories
The top five news stories from wwww.insuranceinsight.com over the past seven days.
Ace Switzerland appoints technical lines manager
René Germann has been appointed technical lines manager for Ace Switzerland as it aims to grow its technical lines capabilities in continental Europe.