Middle East
RSA names Hong Kong CEO
RSA has appointed Singapore country manager Chris Colahan as its new Hong Kong chief executive.
Moody’s: Lloyd’s motor deterioration “alarming”
Moody’s has said the performance of the Lloyd’s market in 2010 - a £2.2bn profit before tax – “compares favourably” with its peers in the reinsurance and commercial markets, but warns of the “alarming” deterioration in its motor book.
Beazley revises MENA outlook to negative
Insurer Beazley has revised its outlook on the Middle East and North Africa to negative following the civil unrest in the region.
Beazley revises MENA outlook to negative
Insurer Beazley has revised its outlook on the Middle East and North Africa to negative following the civil unrest in the region.
Lockton Middle East subsidiary gains chartered status
Lockton subsidiary Lockton MENA Limited has succeeded in its application to achieve Chartered Broker status from the Chartered Insurance Institute.
Insurers shut Bahrain offices
A host of international insurers have closed their offices in Bahrain as civil unrest continues to sweep through the Gulf state.
Prospx partners with Assurex to expand into EMEA
Prospx, developer of an on-demand search and sales collaboration solution for the commercial insurance industry, is extending its platform to Europe, the Middle East, and Africa through its relationship with Assurex Global.
Major loss: meeting the challenges of major loss
With the global nature of modern business exposing insurers to a variety of major loss challenges, Trevor Latimer assesses the consequences.
Willis consolidates international units
Insurance broker Willis has merged its Asia Pacific and Middle East and Africa units naming Roger Wilkinson as the chairman and chief executive of the new entity.
Research provides reinsurance insight to Qatar
Research into reinsurance in the GCC has been unveiled by the Qatar Financial Centre Authority (QFC Authority), establishing the first regular report monitoring the development of the sector in the region.
Catastrophe losses hold back Hardy profits
Hardy Underwriting’s profits halved to £10m during 2010, after it faced a string of international catastrophe losses with a net value of £37m.
RSA names new Al Ahlia boss
A former director of Principle Insurance, Lloyd East, has been appointed managing director of Al Ahlia Insurance, part of the RSA Group.
Kidnap & ransom policy rise likely in Middle East
Insurers will see an uptake of kidnap & ransom policies that contain repatriation costs if the civil unrest in the Middle East and North Africa continues, Chubb has claimed.
Hiscox targets political unrest for opportunities
Hiscox is looking for underwriting opportunities arising from the political unrest in the Middle East and North Africa.
New rating factors needed after European gender ban – Insurance News Now – 2 March 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories including what the ECJ’s ruling that a person’s gender can no longer be used to calculate insurance premiums or annuity rates will mean for insurers.
Willis makes Middle East appointment
Willis Group Holdings has appointed Atish Suri as a divisional director in Dubai, establishing an “on-the-ground presence” in the region.
Disagreement likely over Middle East property cover
Law firm Clyde & Co has claimed that property damaged during the civil unrest in the Middle East and North Africa could fall under either all risks property cover or political violence insurance.
Solvency II - Equivalence: The cost of regulation to cross-border trading
The regulatory costs associated with cross-border trading have long been a burden on international insurers, but things may be improving explains Nick Lowe.
Middle East policies may face court challenges
Commercial insurance policies that exclude political risk are likely to come under scrutiny by courts in the Middle East, following civil unrest in the region.
Post Magazine – 24 February 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
No-claims household insurance discount considered by Axa – Insurance News Now – 24 February 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories including how Axa is considering awarding no-claims discounts to household insurance customers to encourage them to take more responsibility for preventing weather-related…
Egypt could have bright insurance future
The future of the insurance market in Egypt depends on smooth transition to a new political landscape, according to Cunningham Lindsey.
Interview - Gregorio Santos: A new UK journey for Mapfre
With the purchase of Insure and Go, Mapfre entered the UK direct market in a blaze. Leigh Jackson talks to its UK chief executive Gregorio Santos about his plans to grow the business on these shores.
UK regulation needs tailoring for Takaful
UK insurance regulation needs to be tailored to meet the needs of Islamic financial services products if Takaful insurance is to succeed in the UK, a director of the Central Bank of Bahrain has claimed.