Europe
Turkey cracks down on homeowners without quake insurance
Turkey is tightening the rules for mandatory earthquake insurance, making the government decree a law and limiting services to homeowners without protection, according to Hurriyet Daily News.
Lloyd's reveals ambitious 2025 vision
Lloyd's of London aims to be the major global hub for specialist insurance and reinsurance by 2025.
Solvency II detractors told to end futile griping
European insurers should stop complaining about the impending regulatory overhaul as they have had ample time to make preparations, according to Old Mutual finance director Phillip Broadley.
Ageas posts net profit of €155m in Q1
Ageas Insurance's net profit grew by 15% in the first quarter to €155m.
Extraterritorial regulation prevents firms entering foreign jurisdictions
Extraterritorial regulation is preventing financial firms from entering overseas jurisdictions, according to a recent survey.
Cloud adoption may be hampered by poor risk assessment
Organisations' decisions about adopting cloud computing must be made with a full view of the risks involved, according to Marsh.
Downward pressure poll
Is the market already seeing demand affected by downward pressure on disposable incomes?
Generali records 6.1% GWP growth
Italy-based insurer Generali's gross written premiums grew 6.1% to €19.8bn in the first quarter, with business outside Italy accounting for 75.2% of the total.
Ace launches mapping tool for catastrophe and supply chain exposures
Ace and Willis Re Analytics have launched the Ace Cat Web platform to help companies evaluate their catastrophe exposures, as well as those of their suppliers and customers.
Countdown to ISA: Q&A with RSA's Chris Colahan
As part of a series counting down to Insurance Strategy Asia, Insurance Insight spoke to Chris Colahan about his views on the Asian insurance market.
Solvency II not just about capital requirements, says Bernardino
Solvency II should be seen as more than a "check the box" regulatory exercise that determines capital requirements, according to Eiopa president Gabriel Bernardino.
EC could force mandatory commission disclosure, warns Biba
The British Insurance Brokers' Association has said that the revision of the Insurance Mediation Directive could result in mandatory disclosure of commission for the insurance industry by 2019 along with an increase in the regulatory cost burden.
Japan's government considers insurance for Iran crude tankers
Japan's government may insure tankers unable to get cover for shipments of Iranian oil due to European Union sanctions, according to the International Oil Daily.
Markel makes senior appointment to cargo team
Markel International has appointed Richard Burnett as senior underwriter for cargo, part of the company's marine and energy division.
Munich Re returns to first-quarter profit
Munich Re achieved a consolidated profit of €782m in the first quarter of 2012, compared with a loss of €948m in the same period a year ago.
Redomiciling still an option for dissatisfied Prudential
Prudential may still relocate outside the European Union as its lobbying campaign to alter Solvency II rules has failed to make a breakthrough thus far, according to Reuters.
Mapfre reports rise of 11.5% in Q1 revenues
Mapfre reported revenues of €6,835m in the first quarter of 2011, citing "sustained growth of the international business" for the 11.5% rise.
Markel promotes Leach to senior contingency underwriter
Specialist insurer Markel International has promoted James Leach to the position of senior contingency underwriter in its speciality division.
Allianz 'on track' for 2012 target after €2.3bn profit in Q1
Allianz Group achieved revenues of over €30bn in the first quarter of 2012, compared to €29.9bn in the first quarter of 2011, according to preliminary figures.
Sogaz opens in Serbia
Russian insurance firm Sogaz has opened its first foreign subsidiary in the Republic of Serbia.
Belarus targets regulatory overhaul of insurance market
A major overhaul of the Belarus insurance industry is being planned in an effort to close the gap between Belarus and its European neighbours, according to online news agency Xprimm.
Anglo-Arab launches war and terrorism travel cover
Anglo-Arab Insurance Brokers launched the first online global travel plan to include war and terrorism cover as standard at the Arab Travel Markets Conference in Dubai on 30 April.
Eurobase and Mphasis form strategic partnership
Eurobase Insurance Solutions, has formed a strategic partnership with applications and business process outsourcing company Mphasis to deliver a new shared solution to the market.
Aviva's Moss resigns following pay vote furore
Beleaguered Aviva boss Andrew Moss has bowed to pressure for his resignation following the embarrassment of last week’s shareholder revolt over executive remuneration.