Europe
Mapfre H1 revenues rise 9.2%
Increased international business and the recovery of sales in Spain has helped boost growth revenues at Mapfre.
APC boosts Irish operation
APC has boosted its claims team to support its recent expansion into the Republic of Ireland market.
Aviva and RSA among firms studying Quinn bid memo
UK insurance giants Aviva and RSA have been named among the potential bidders for Quinn Insurance, according to a report this morning.
Quinn jobs saved after business picks up
Seventy-five jobs at Quinn Insurance in Enniskillen, Co Fermanagh, which were to be lost will now be saved, it has been reported.
Willis: Aon backtrack on contingent commissions is "wake up" call to the market
Willis claims Aon's announcement that it would resume accepting contingent commissions “where appropriate and legally permissible” is a wake up call to insurance buyers.
Irish regulator spells out stance on client premiums
The Financial Regulator in Ireland has published the findings of an examination of compliance by insurance intermediaries, with the rules governing the handling of client premiums and the operation of client premium accounts.
Adjuster appoints new Greek head
Charles Taylor adjusting has appointed James Greene as director of its average adjusting business, Richards Hogg Lindley (Hellas), in Piraeus, Greece.
Belarusian B&B Insurance downgraded by AM Best
Balarus-based B&B Insurance Co, OJSI has had its financial strength rating downgraded to C (weak) from C++ (marginal) and the insurer credit rating reduced to ‘ccc+’ from ‘b+’, by ratings agency AM Best.
Fitch: QIS5 unlikley to impact insurer ratings
Fitch Ratings said today that the final quantitative impact study QIS5 specifications do not materially alter Fitch's view on the likely impact of Solvency II on its insurance ratings.
Lloyd's welcomes US bill as step towards Solvency II harmonisation
Lloyd's welcomed the passage of the Dodd-Frank financial reform bill through the Senate yesterday.
Insurance Insight’s weekly update is now live
This latest initiative from the team behind the UK's market-leading general insurance weekly Post is dedicated to the European general insurance market and we will be providing news, analysis, comment and features focused on different territories.
Insurance Insight: The European Challenge of Multinational Insurance
As companies rapidly expand across Europe insurance programmes are increasingly needed to cross national borders. This throws up a multitude of problems but Suresh Krishnan and Denis Whelan explain how some of these can be overcome.
Euro bounces back after four year low
The euro has today gained over 10 cents against the USD, taking it to 1.2986. The rise follows the euro hitting a 4 year low in June.
ABI: travel claims hit all time high
Figures released today by the Association of British Insurers highlight that the cost of falling ill abroad has hit a record high, as travel insurers helped a record number of people needing emergency medical treatment while overseas.
Craig back in the ABI hotseat as Kelly departure confirmed
The Association of British Insurers has confirmed that Kerrie Kelly is stepping down from her role as director general to return to Australia for personal reasons.
Axa-owned Bluefin strikes alliance with US broker
Axa-owned Bluefin has become an inaugral member of Equity Risk Partners Global, a worldwide alliance focused exclusively on the needs of the private equity sector.
KPMG unsurprised by US omission in Solvency II project
KPMG has welcomed Ceiops draft advice (Consultation Paper 81), published yesterday, on which jurisdictions’ regulatory regimes are to be considered within the first wave of Solvency II equivalence assessments.
SMEs cautious on economic recovery
More than half of UK SMEs believe a full economic recover is at least two years away.
Quinn faces massive claim after Burger King factory blaze
Quinn is set to face a significant claim after a factory used by fast food giant Burger King was destroyed by fire, it has emerged.
Medicals Direct buys London rival
North London-based medical services provider Medicals Direct Group has acquired rival firm Medibureau for an undisclosed sum.
Outgoing AIG chair: It is easier to replace me than CEO Benmosche
Harvey Golub has resigned as chairman of the AIG board after it emerged that he had had a difficult working relationship with CEO Bob Benmosche.
Axa GI FD takes new role
Axa UK has appointed Jean Drouffe as group finance and risk director as Ian Robinson, the incumbent director, takes up the role of global head of internal audit, at Axa Group, Paris
Willis, Munich Re and Allianz seal European windstorm deal
Perils AG, the Zurich-based company providing industry-wide European catastrophe insurance data, today announced that in the first six months of 2010 the total placements of insurance risk transactions based on Perils industry loss index exceeded $250m.
Singapore insurance market poses threat to London warns Marsh
The London market needs to think about how it is responding to the expanding Singapore market if it is going to be competitive with rates.