Europe
Post Magazine – 25 August 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Ex-Swiftcover CEO Blowers back with new online start-up - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories which include online insurance broker Qmetric has been granted full Financial Services Authority approval and is said to be a “few weeks” away from adding three major…
Willis and Ace Europe claim London Market e-accounting first
The London-based operations of Ace and Willis today announced the successful launch of a full electronic accounting process between the two companies - a London Market Group (LMG) non bureau project first.
Admiral sees 38% jump in ancillary profit as it records £160.6m PBT at H1
Admiral has recorded a profit before tax at £160.6 million for the first six months of 2011, 27% ahead of H1 2010, while turnover rose 53% to £1.1bn.
European insurers adopt Dataflux technology
Nine European insurance firms have adopted Dataflux technology to help underpin their Solvency II data management initiatives.
Zurich names global media relations head
Zurich Financial Services Group has appointed Maeve Gallagher to the role of global head media relations, with effect September 1, 2011.
Ireland's Wrightway puts renewals on EDI
Ireland’s largest underwriting agency Wrightway is converting all of its manual motor policies to full cycle EDI on Open GI, removing the need for paper transactions on renewals.
Zurich Global Corporate appoints COO for North America
Zurich Global Corporate has named Sabrina Hart chief operating officer for Global Corporate in North America (GCiNA).
Mercer names investment management head for EMEA
Michael Dempsey has been appointed head of Mercer’s investment management business for Europe, Middle East & Africa (EMEA) and a member of the firm’s EMEA executive team and its global investment management leadership team.
US insurers voice concern as Solvency II equivalency is raised
Connecticut insurance commissioner Thomas Leonardi has cautioned fellow regulators and other industry members that adoption of European regulatory changes, Solvency II as currently proposed could weaken consumer protections and stability of insurers in…
IIF warns of Solvency II implications on insurers' capital funding of banks
The Institute of International Finance has called for greater cross-sectoral coordination in developing regulatory reforms.
Editor's comment: A time of upheaval
Travelers’ decision to pull out of the Irish private motor market last week was an interesting - and apparently unexpected - one.
A&A seeks CEO before Euro push
Non-standard motor broking specialist A&A Group has outlined ambitious plans to expand its European footprint, ahead of a potential cash injection.
Travelers motor exit prompts market withdrawal speculation
Travelers’ decision to pull the plug on its private motor business in Ireland could signal the company’s complete withdrawal from Ireland, according to local players.
Mapfre targets used car warranty market
Spanish-owned insurer Mapfre Assistance is seeking a share of the £600m UK used car warranty market with the launch of its new brand, Mapfre Warranty.
Technology focus - Cloud computing: Head in the clouds
The exact definition of cloud computing may be up in the air but a large number of companies have embraced it. Amy Ellis reports on the insurance industry’s take-up of cloud technology and the security implications involved.
Post Magazine – 18 August 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Travelers motor exit prompts market withdrawal speculation – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including Travelers’ decision to pull the plug on its private motor business in Ireland, leading to speculation that the insurer is planning to withdraw from the country…
Eiopa launches equivalence consultation
The European Insurance and Occupational Pensions Authority has launched a consultation on the potential equivalence of the Bermudan, Japanese and Swiss supervisory systems with Solvency II.
Central Bank publishes new corporate governance code for captives
The Central Bank of Ireland has published its corporate governance code for captive insurance and reinsurance undertakings.
Telematics could be the answer to managing UK’s “grey fleet”
Employees across the UK are leaving themselves exposed by failing to understand their responsibility when using own cars on company business.
RMS unveils toolkit with building valuation
Risk Management Solutions has unveiled the latest version of its Data Quality Toolkit, which enables re/insurers to assess, manage, and improve the quality of their exposure data.
Fitch affirms DEVK insurance entities; Outlook Stable
Fitch Ratings has affirmed DEVK Deutsche Eisenbahn Versicherung Sach- und HUK-Versicherungsverein a.G. Betriebliche Sozialeinrichtung der Deutschen Bahn's (DEVK non-life) and DEVK Deutsche Eisenbahn Versicherung Lebensversicherungsverein a.G…
Zurich results show a solid performance
Swiss insurer Zurich has announced a half year operating profit 7% down on 2010 at £2.1bn but said its second quarter was 7% up at $1.3bn.