Europe
Chedid Re forms Lloyd's partnership
Chedid Re and Price Forbes & Partners have entered an association agreement for the insurance and reinsurance placement of upstream and downstream hydrocarbon energy business.
CII welcomes Gibraltar affiliate
The Gibraltar Insurance Institute has been accepted as an affiliate institute of the Chartered Insurance Institute.
Kazakh insurance group recovering with 67% growth after restructure, notes Fitch
Fitch Ratings has assigned Kazakhstan-based non-life insurance group Amanat Insurance a 'B' Insurer Financial Strength (IFS) rating and a National IFS 'BB(kaz)' rating. The Outlooks are Stable.
UIB appoints marine & energy head
Insurance broker UIB has appointed Mikael Ardell, as divisional director for marine and energy, to drive growth across the Nordic region in the property and energy sectors.
Italian non-life market recovery "fragile" claims rating agency
Fitch Ratings has revised the rating outlook for the Italian life market to stable from negative. The rating outlook of the non-life market remains negative.
Swiss non-life sector better than most European rivals claims Fitch
Fitch Ratings has changed the rating outlook for the Swiss non-life insurance sector to stable from negative to reflect what it decribed as the sector's continued strong underwriting profitability and the economic recovery.
Beazley still keen on Hardy despite "surprise" at £158.4m bid rejection
Beazley has confirmed that it has made a 300p per share case approach to Hardy Underwriting Bermuda valuing the latter at £158.4m that has been rejected by Hardy.
Brit extends deadline for Apollo bid
In a stock exchange announcement Dutch domiciled Brit has confirmed an extension has been granted to the deadline for a formal bid by Apollo and CVC Capital Partners.
Fitch upgrades French life sector rating while GI remains negative
Fitch Ratings says in a new report that the rating outlook for the French non-life insurance sector remains negative, while the French life insurance sector has been revised from negative to stable.
Exclusive risk management content now available
Insurance Insight’s weekly update is now live with a look at the transport risk management, as well as a View from the Top opinion on why 8th European Company Law Directive can help firms.
View from the Top: Faster, further and more safely
For insurers, the attractions of article 41 of 8th European Company Law Directive may not be immediately obvious, but I believe they will benefit from it as underwriters and as investors.
Transport risk management
With constantly shifting suppliers and sales markets as well as the increase in use of outsourced production sites, companies face more and more transport exposures for their cargo. As Pascal Matthey explains, fast and safe deliveries require a holistic…
Irish Regulator allows Quinn to underwrite one UK commercial client
Quinn Insurance has been allowed to retain one UK commercial client, despite otherwise being barred from underwriting this class of business.
Aon to cut up to 1800 jobs following Hewitt merger
Insurance broking giant Aon could shed 1500 to 1800 positions across the world as part of plans to integrate Hewitt Associates.
IUA embraces impact of catastrophe modelling on insurance industry
The London market is developing an increasingly sophisticated catastrophe modelling community as companies look to support their operations with the latest techniques and research.
Senior staff in the firing line as Zurich announces more cuts
A number of senior staff are among those to be impacted by a shake-up of Zurich's international general insurance operations, Post has learnt.
Insurers welcome EC decision on environmental damage liability
The CEA, the European insurance and reinsurance federation, has welcomed the decision by the European Commission not to propose an EU-wide compulsory liability scheme to cover environmental damage, or imminent threat of environmental damage, under the…
S&P hints at 'AA' return for Swiss Re as it revises outlook to 'positive'
Standard & Poor's has revised its outlook on Swiss Re to positive, and hinted it could raise its rating back to double A.
UK insurance giants RSA and Aviva out of the running for Quinn
Five groups, including Anglo Irish Bank, Travelers Insurance and Liberty International, have been short listed as the preferred bidders for Quinn Insurance, according to reports.
Munich Re affirmed as A+ by AM Best
AM Best has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Re and its subsidiaries.
Northdoor unveils Solvency II checklist
Northdoor, the IT consultancy and solutions provider, has unveiled its ‘Solvency II checklist’.
Zurich expands Middle Eastern operation with swoop
Zurich has signed an agreement to acquire 99.98% of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates (UAE), Kuwait and Oman.
Exclusive energy market content now available
Insurance Insight’s weekly update is now live with a look at the European energy market, as well as a View From the Top opinion on why specialist understanding must come over pricing.
Renewable energy: evolving together
Investment in renewable energies is increasing at a rapid rate and the opportunities are plenty, however, as Ignacio Almazán explains insurers must evolve with this sector to ensure continued cover.