Europe
Lemma Insurance Europe policies disclaimed
The Supreme Court of Gibraltar has passed an order winding up Lemma Insurance Europe and appointing Frederick White, of Grant Thornton, as liquidator.
AIG secures HSBC distribution rights in Turkey and France for $55m
American International Group signed a 10-year bancassurance deal with HSBC Group, which see it become the exclusive provider of non-life insurance products to HSBC customers in Turkey and France.
AIG acquires HSBC's French GI arm and extends Turkish footprint
AIG has entered a 10-year bancassurance agreement with HSBC Group to become the exclusive provider of non-life insurance products to the bank's customers in Turkey and France.
Impact study likely to cause further SII delay
The implementation of Solvency II faces further delay due to the launch a long-term guarantees assessment impact study by the European Insurance and Occupational Pensions Authority, KPMG has warned.
Lemma Insurance Europe policies disclaimed
The Supreme Court of Gibraltar has passed an order winding up Lemma Insurance Europe and appointing Frederick White, of Grant Thornton, as liquidator.
Weak economy to hurt commercial lines more than personal, says Moody's
The outlook for property & casualty insurers is stable in 2013, despite macroeconomic conditions, Moody's said today.
Outlook for global reinsurers stable but pricing to stagnate, says Fitch
The outlook for the global reinsurance sector remains stable, as capital, underwriting and operating trends are expected to support reinsurers' ratings over the next one to two years, according to Fitch.
Argo hires general liability underwriter from Besso
Argo International, the Lloyd’s insurer and member of Argo Group, has appointed Vanessa Lampard as an underwriter in its general liability team.
Eiopa launches LTGA consultation
The European Insurance and Occupational Pensions Authority launched today a technical assessment of the long-term guarantee package agreed by the European Parliament, the Council of the EU and the European Commission in the context of the Omnibus II…
Worsening economic outlook pushes up IPT
Several governments across Europe have ramped up insurance premium tax rates in response to finance deficits and a worsening economic outlook, research has shown.
Specialist pan-European cyber broker start-up launches
IPS Protection, a UK-based broker specialising in cyber liability has launched today to fill what it claims is a gap in the market.
Polish Treasury may sell PZU stake to fund investment programme
The Polish Treasury has revealed it could sell its stake in Warsaw-listed insurer Powszechny Zakład Ubezpieczeń to finance its flagship investment programme, the deputy treasury minister said.
Sony fined £250,000 for Playstation data breach
The UK Information Commissioner’s Office yesterday confirmed that it has fined Sony £250,000 for a ‘serious breach’ of the Data Protection Act.
RSA strengthens global specialty lines team
RSA has appointed Tony Chaudhry as Europe director for its global specialty lines business.
Vienna Insurance Group sees premium growth of 9.5%
Vienna Insurance Group posted 9.5% premium growth in the in its preliminary full year results for 2012, published today.
Interview: Bill Dewsall - It's a long way to the top
Bill Dewsall's atypical route to a major insurance role saw him leave professional cricket and drumming behind but, as he plots continued growth over the next three years, the Gable CEO can have no regrets about deciding to get a 'real job'.
European insurers look to exit run-off business
The trend of insurers looking to exit their legacy business is likely to continue over the next 12 months according to Pricewaterhouse Coopers.
Claims cost European insurers €930bn in 2011
A total of €930bn in claims was paid out by the European insurance sector in 2011 – a 7.5% increase on 2010, figures from Insurance Europe have revealed.
India's middle class boom not confined to megacities
Firms looking to supply goods and services to India’s growing middle classes should not ignore those in smaller towns and cities, according to Ambitabh Kundu, Professor of Economics, Jawakarlal Nehru university.
Insured losses 36% above 10-year-average in 2012
Natural catastrophes globally caused total economic losses of £200bn in 2012, only slightly above the 10-year-average of $187bn.
Swiss Re reorganises special lines
Swiss Re is to separate its agriculture and aviation divisions as part of a reorganisation of its special lines.
Gable gets French connection with new product
Gable Insurance has launched a rental guarantee product into the French market following successful launches in Norway and Denmark.
UK exit could impact insurance regulation
A change in the UK's relationship with the European Union would most likely affect insurers in the area of regulation, according to PwC.
Delta Lloyd lists on Brussels stock exchange
Netherlands-based insurer Delta Lloyd NV listed on the NYSE Euronext Brussels for the first time today.