Europe
CEA concerned about impact of partially renewed insurance BER
The CEA, the European insurance and reinsurance federation, is concerned that the only partial renewal of the Insurance Block Exemption Regulation, as adopted today by the EU College of Commissioners, will reduce cooperation between insurers, to the…
Budget 2010: Government pledges to support insurers on Solvency II
The government has vowed to continue its support to insurance firms ahead of the implementation of Solvency II.
European Commission adopts anti-trust block exemption rules
The European Commission has adopted a new regulation that exempts certain types of agreement in the insurance sector.
Zurich to put in new controls after being found in breach over data loss
Zurich Insurance has agreed to improve information security after losing over 46 000 individuals’ personal financial information.
Lancashire: no material exposure to Xynthia
Lancashire Holdings today announced that it estimates its net losses before tax from the earthquake in Chile and subsequent aftershocks range from approximately US$65m to US$125m including the sum of gross claims and claims expenses, reinsurance…
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".
Aon claims market leading position with deal
Aon has acquired the local German broker Versicherungsmakler which specializes in placing insurance for environmental projects.
Flagstone proposes domicile move
Flagstone Re has said that it wants to move domicile from Bermuda to Luxembourg.If approved by shareholders, Flagstone said that it expects the redomestication to take place over several months.
Amlin: earthquake may exhaust inward cat excess of loss exposures
Lloyd's insurer Amlin has issued estimates for the impact of the Chilean earthquake and windstorm Xynthia, both of which occurred over the weekend of 27th /28th February.
SCM Insurance Services set to purchase Axis Adjusters Europe
Canadian firm SCM Insurance Services has agreed a deal to purchase Axis Adjusters Europe in a bid to help it service its continental clients.
Fitch revises negative view of UK general insurance market
Fitch Ratings has revised its rating outlook on the UK non-life sector to stable from negative.
Allianz hails microinsurance success
Allianz Life Indonesia and Allianz Utama Indonesia (Allianz Indonesia) sold a combined total of 347 000 microinsurance policies in 2009.
Airmic: members will have to take Solvency II pain for little gain
The Solvency II reforms as currently proposed would reduce the amount of insurance capacity available to UK businesses and put up the cost of cover, the Association of Insurance and Risk Managers has warned.
Garratts agrees €700k warranty deal
Lancashire-based insurance broker Garratts has secured a contract to arrange tyre warranties worth €700 000 in Spain and Portugal.
Marsh: concerns persist over environmental liabilities
The heightened environmental liabilities created by recent European Union and UK environmental legislation were among the top risk management concerns raised by delegates at this week's Base conference in London, according to Marsh.
Former RSA CEO Bridget McIntyre set to take Fortis exec role
Former RSA UK CEO Bridget McIntyre is in line to become a non executive director of Fortis.
Ace outlines $125m cat losses from first quarter
Ace has announced its estimated net after-tax losses in the first quarter from natural catastrophes will be approximately $125m, including reinstatement premiums.
FM Global reports gross premium increase for 2009
Business property insurers FM Global has announced gross premium in force of $4.7bn (£3.0bn) as part of its end of year results for 2009 – an increase of more than 5% year-on-year.
Aviva enters Indonesian market
Insurer acquires a 60% stake in PT Asuransi Winterthur Life Indonesia.
ABI director general slams ‘extremely conservative’ CEIOPS' Solvency II approach
New Association of British Insurers director general Kerrie Kelly has criticised the Committee of European Insurance and Occupational Pensions Supervisors for its approach to Solvency II.
XL faces $230m losses from Chilean quake and European windstorm
XL Capital has announced preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia.
New Novae Re offices open in Zurich
Novae Group has opened its new offices in Zurich, as it hopes to capitalise on what they say is the increasingly important European reinsurance marketplace.
UK and Norway form RM alliance
The Norwegian Risk Management Association and the Institute of Risk Management have announced an agreement whereby NORIMA will promote IRM’s qualifications to its members at a preferred partner rate.
FSA targets Solvency II and PPI in business plan
The Fiancial Services Authority will focus on Solvency II preparation and the conduct of payment protection insurance providers in its 2010/11 business plan.