Europe
BIS 2010: XL head compares insurers to doctors who smoke
In highlighting the importance for clients to understand an insurers' risk, Nigel Bamber, XL Insurance head of client relationship management UK, asked today's British Insurance Summit: "Is the insurer like a doctor who smokes?"
BIS 2010: Fortis issues SII standard model warning
Fortis has warned insurers against using a standard formula to set capital requirements for Solvency II.
BIS 2010: Willis CEO warns that risks will need to be "recalibrated"
The insurance industry needs to ensure that it produces new products and services that are relevant to the new environment of corporate shocks and catastrophes.
BIS 2010: M&A activity predicted to increase as Solvency II takes hold
Pressures arising from compliance with Solvency II may instigate a wave of M&A activity, a panel of leading industry figures has predicted.
European super regulator rules passed
Rules passed today which create three new European Supervisory Authorities and a European Systemic Risk Board keep national regulators at the fore whilst ensuring a common rule book to prevent future economic crises, Kay Swinburne MEP, European…
BIS 2010: Aviva CRO highlights Hodges role in promoting risk management
Aviva UK chief executive officer Mark Hodges made improving the firm’s risk management a top priority after taking up the role, according to the insurer’s group chief risk officer Robin Spencer.
BIS 2010: Baugh claims UK insurance industry lacks cohesive voice
The UK insurance industry may fail to get its voice heard at home and on an international stage because it is too “fractured”.
Standard & Poor’s withdraws rating for Swedish insurer
Swedish non-life insurer Moderna has had its Standard & Poor’s long-term financial strength A rating withdrawn after its assets were transferred to another insurer.
Insurers lined up to buy Danish bank
A consortium - including insurers - has agreed a deal to buy Danish bank FIH Erhvervsbank A/S for DKK 5.0bn.
Ferma backs law directive
Good risk management and internal control systems help companies go "faster, further and more safely" and businesses should not be afraid of the 8th European Company Law Directive.
Aon warns food industry of walking "blindly" into China media storm
Businesses in the EU involved with importing or selling food and beverage products from China are walking, often blindly, into a potential legal and media storm, according to Aon.
Swiss Re: insurance can help reduce climate risk impact by up to 90%
Innovative insurance solutions hold the key to driving climate adaptation initiatives in the developing world and securing the development prospects of communities threatened by rising climate risks.
HFW opens Geneva office
Following recent investment in Asia-Pacific and the Middle East, Holman Fenwick Willan is set to open an office in Geneva in early October.
MDS acquires Brazilian broker
Iberian and Latin American insurance broking group MDS Holdings has acquired broker Quorum Saude, Seguros e Previdência.
Lloyd's insurer Chaucer raids Willis for new COO David Mead
Lloyd's insurer Chaucer Holdings has appointed David Mead as chief operating officer of Chaucer Syndicates, Chaucer's Lloyd's managing agency and main operational subsidiary, from 1 November 2010.
Apollo and CVC make new offer for Brit
Brit Insurance has received a new offer of £10.75 per share on cash from a consortium consisting of Apollo Management and funds advised by CVC Capital Partners.
French insurance market faces innovation challenge
The French insurance market is complex due to its legal and competition structure, as well as the ways and customs of the French themselves. However, as Jean-Pierre Menanteau explains, if insurers take customer service and innovation seriously they can…
FSA chairman warns against EU interference in regulation
Lord Adair Turner has insisted the UK’s regulatory system is better served remaining under the control of UK authorities, and not in Brussels, according to reports.
Exclusive French insurance review now available
In our latest article the chief executive officer for Aviva France Jean-Pierre Menanteau looks at the complex legal and competition structure in the French Insurance market.
L&G signs corporate governance pledge
Legal & General Investment Management has signed up to the United Nations Principles of Responsible Investment.
Wind turbine modelling tool launched
A new wind energy risk assessment tool aims to give wind operators access to more competitive premiums.
Ocaso retains A+ rating
AM Best has affirmed the financial strength rating of Ocaso Seguros y Reaseguros.
Gable doubles GWP
Gable Holdings has produced gross written premium of £8.63m (H1 2009: £4.0m) for the six months ended 30 June 2010.
Mutuals called to engage with Solvency II debate
The Association of Mutual Insurers and Insurance Cooperatives in Europe has called for its members to participate on the ongoing “debate” about the final design of Solvency II.