Europe
Markel appoints new senior underwriter and head of professional indemnity
Markel International has appointed David Sawyer as senior underwriter and head of professional indemnity in its professional and financial risks division.
Assurant launches same day handset replacement so customers can ‘reconnect’ within hours
Assurant Solutions customers whose mobile phones are lost or stolen will be able to get a replacement handset delivered the same day following the launch of same day delivery offer to UK bank clients.
Moody's puts CGCS debt ratings on negative review
Moody's has placed the ‘B3’ corporate family rating and ‘B3-PD’ probability of default rating of Cooper Gay Swett & Crawford on review for downgrade given deterioration in the group’s Ebitda, financial leverage and interest coverage metrics.
Catalina completes Quinn legacy liabilities transfer
Catalina Holdings has completed the portfolio transfer of legacy insurance liabilities from Quinn Insurance.
Ex-Zurich corporate boss Green joins broker as director
Former Zurich corporate boss Steve Green has joined broker Anthony Jones as a director.
Europe: Cyber security
With hacking and phishing scams on the increase, businesses would be expected to include cyber insurance in their arsenal of measures designed to protect them and their customers in the event of breaches.
Dual enters CEE market following DCD purchase
Dual Group has launched in Central and Eastern Europe as Dual Polska, following the acquisition of the majority stake of Torun headquartered insurance specialist, Data Connect Direct.
Grexit edges closer as country heads for July 5 referendum
Greek banks will not open this week, following the European Central Bank’s decision not to extend emergency funding to the troubled Eurozone state.
UK General in talks over schemes business sale
Managing general agent UK General is gearing up to sell its personal lines schemes business.
Liberty to axe 270 jobs in Ireland and withdraw from UK motor
Loss making Liberty Insurance is cutting 250 jobs in Ireland and a further 20 in Enniskillen, Northern Ireland over the next 18 months.
FCA defends costs in relation to EU counterparts
The Financial Conduct Authority has disputed its costs are significantly more than other European Union regulators after a critical response from an insurance trade body to its fees and levies for 2015/16.
Brexit would be negative for UK financial sector
A vote to leave the European Union could threaten the health of the UK economy and its financial sector, according to Standard & Poor's Ratings Services.
Lure of Liechtenstein questioned as reports of insurer interest surface
The Liechtenstein financial regulator has flagged an uptick in insurance companies looking to establish a presence in the principality despite analyst scepticism about the benefit of the territory as an outpost for UK insurers.
Cyber attack on Polish airline grounds 1400
Polish airline LOT was forced to delay flights for five hours last Sunday (21 June) after a cyber attack on its ground operations systems.
RSA to appeal Philip Smith's constructive dismissal verdict
RSA has vowed to appeal the Employment Appeal Tribunal's decision in Dublin to award former Ireland CEO Philip Smith €1.25m (£900,000) in constructive dismissal damages.
Europe: Energy supply disruption presents a key global risk
Today's global economic integration offers multinational businesses cheaper sources of supply and attractive new markets, yet at the same time it exposes companies' operations and supply chains to a widening range of global risks.
Lloyd's issues stark El Nino food supply warning
Lloyd's has commissioned research which shows the potential huge impact an El Nino year could have on the world's food supplies.
Insurers ‘extremely concerned' about proposed data protection rules
Europe's insurers are "extremely concerned" about several aspects of the proposed European Union data protection rules due to enter the final stages of discussion by European Institutions, according to Insurance Europe.
AGCS partners with crisis management specialist
Allianz Global Corporate & Specialty is partnering with crisis management firm red24 to help manage product recalls and emergency evacuations.
Osborne confirms support for insurance sector in Mansion House speech
Chancellor of the Exchequer George Osborne reiterated the government's commitment to making the City of London the leading centre for insurance and reinsurance business in his annual Mansion House Speech last night (10 June).
Zurich's global CEO "deeply regrets" Lehmann's departure
Alex Lehmann, Zurich's chief risk officer and chairman of Europe, Middle East and Africa, will leave the insurer by the end of the year.
Tokio Marine Holdings to acquire HCC Insurance in $7.5bn deal
Tokio Marine Holdings has agreed to acquire HCC Insurance Holdings for $7.5bn (£4.8bn) through its subsidiary, Tokio Marine & Nichido Fire Insurance Co.
$1.5bn Fidelis aims to shake-up global (re)insurance market
Bermuda-based new entrant Fidelis is aiming to provide significant competition in the global (re)insurance sector after a significant investment.
Europe: Solvency II - Getting through the last mile
With Solvency II due to go live on 1 January 2016, there's still a lot of work to do, warns Accountagility's Robert Gothan.