Europe
Tough motor market contributing to pet insurance interest in Gibraltar
Potential for profit-making, low market penetration and a diversification away from the tough motor market are key factors in "struggling" Gibraltarian insurers looking to enter the UK pet insurance arena, commentators have suggested.
Reinsurance pricing pressure to continue in 2015
Ratings agency AM Best is forecasting reinsurance pricing to remain under pressure in 2015 given continued pressure from alternative capital and the lack of a price-changing event in the past few years.
Ex-airline boss Douglas Steenland named new AIG chairman
AIG has named Douglas Steenland as its new chairman, effective from 1 July when he will succeed Robert Miller.
Europe: How did the Western Sanctions affect the Russian insurance market?
At the end of January the Council of the European Union agreed to extend existing sanctions against Russia. This move comes a year on from the introduction of the first set of sanctions, and now we can estimate its impact on the Russian insurance market.
Exor bid raises doubts over £7.3bn Partner Re and Axis merger
The planned merger between Partner Re and Axis Capital could be dashed following a $6.4bn (£4.3bn) bid by Italian operation Exor to acquire the reinsurer.
Scenario testing required as industry concerns over EU exit increase
Insurance firms are being urged to adopt scenario testing from this year in preparation for the proposed referendum on the UK's European Union membership under a future Conservative government.
Dual launches Netherlands marine operation
Hyperion's underwriter Dual has opened its first Netherlands office writing marine and energy lines.
Europe: From Bolton to Bermuda
Like double decker buses, Bermuda hadn’t had a hurricane make landfall for 27 years – then experienced two in five days. The phenomenon tested loss adjusters at McLarens to the limit
Perils revises loss estimate from windstorm Elon-Felix to €335m
Independent Zurich-based loss data provider Perils has disclosed its second loss estimate for windstorm Elon-Felix which affected Western and Northern Europe from 8 to 11 January 2015.
French customers seek legal action over Aviva life contracts
A lawyer representing Aviva life insurance customers in France has registered 10 further clients in the past two weeks who want their fixed price arbitrage contracts honoured by the insurer.
Motor market constraints not Gibraltar-specific, GIA says
Market constraints that contributed to Gibraltar-based underwriter the Service Insurance Company ceasing to write business are likely to felt by motor insurers Europe-wide and not just in the UK overseas territory, the Gibraltar Insurance Association…
Catlin completes Insure the Box sale
Aioi Nissay Dowa Insurance has finalised its acquisition of Insure the Box and Drive Like a Girl from Catlin.
Further insurer run-off expected in Gibraltar as others plot arrival on The Rock
Several Gibraltar-based firms in danger of entering run-off are under intense regulatory scrutiny, according to market insiders, while the British overseas territory's financial watchdog says it has a number of interested parties on the hook to establish…
Germanwings loss to maintain aviation market pricing pressure
Pricing in the aviation market is expected to remain competitive in spite of the Germanwings crash on 24 March, according to AM Best.
Interview - Gilles Galludec: Learning to share
Index insurance has come of age from its humble beginnings but more knowledge sharing is required if the market is to reach its potential, according to Gilles Galludec, program manager for the World Bank’s Global Insurance Index Facility.
Koh excited by Generali Asia marketing role
Tricia Koh has been confirmed as Generali Asia's head of value proposition and marketing after joining from Allianz Global Corporate & Specialty last December.
UK General reports 10.4% premium growth
Insurer UK General has reported an improved business performance premium for the 2014/15 year to £436m from £395m the year prior.
Cathedral leads consortia for Germanwings A320 war policy
Lancashire-owned Cathedral is leading the consortia on the Lufthansa war policy for the Germanwings Airbus A320 plane that crashed in France on 24 March.
XL Group announces pricing of subordinated notes
XL Group has priced a public offering of $500,000,000m (£336,134,684) for its subsidiary Xlit.
Nationale Suisse shares delisted
The Cantonal Court of Appeal in Basel-Stadt has declared the shares in Nationale Suisse that are not held by Helvetia to be invalid.
Industry should prepare for $1bn container ship loss, says AGCS
After a 80% plus increase in container ship capacity in a decade, Allianz Global Corporate & Specialty is warning of some significant loss events to come.
Closing Gibraltarian underwriter warns of SII pressures
The chairman of Gibraltarian underwriter Service Insurance Company said UK motor market pressures and the looming Solvency II deadline in 2016 led to the firm deciding it was not "economically sensible" to continue operating.
DfT and industry players discuss scope of Vnuk legislation
Industry leaders are working with the Department for Transport to determine if certain vehicle classes should be taken out of European Union legislation that expands the requirement for motor insurance, amid fears of a future claims influx.
International: Microinsurance: Starting small
How will the new microinsurance incubator launched by the World Economic Forum impact on lower-income communities, and what are other insurers doing to cater for this group?