United Kingdom (UK)
Lloyd's reveals ambitious 2025 vision
Lloyd's of London aims to be the major global hub for specialist insurance and reinsurance by 2025.
EC could force mandatory commission disclosure, warns Biba
The British Insurance Brokers' Association has said that the revision of the Insurance Mediation Directive could result in mandatory disclosure of commission for the insurance industry by 2019 along with an increase in the regulatory cost burden.
Taiwan regulator lambasts fickleness of foreign insurers
Taiwan's Financial Supervisory Commission has criticised foreign insurers for exiting the market at the first sign of trouble, and urged them to honour their commitments in Taiwan.
Markel makes senior appointment to cargo team
Markel International has appointed Richard Burnett as senior underwriter for cargo, part of the company's marine and energy division.
Markel promotes Leach to senior contingency underwriter
Specialist insurer Markel International has promoted James Leach to the position of senior contingency underwriter in its speciality division.
Aviva's Moss resigns following pay vote furore
Beleaguered Aviva boss Andrew Moss has bowed to pressure for his resignation following the embarrassment of last week’s shareholder revolt over executive remuneration.
MMA posts £12.1m profit in final results before merger
MMA Insurance recorded pre-tax operating profit of £12.1m in its 2011 annual results, up from £0.3m in the prior year period.
Allianz Global Assistance posts record turnover for 2011
Allianz Global Assistance, of which Mondial Assistance UK is a member, achieved global turnover in excess of €2bn for the first time (€2.05bn) representing an increase of 8.5% over 2010.
Aviva shareholders reject executive pay package at AGM
Insurer Aviva has lost the vote on executive pay at its annual shareholders meeting.
RSA expects sub 95% COR for 2012 after Q1 results
RSA recorded a 5% increase in net written premiums to £2.2bn for the first quarter, prompting group CEO Simon Lee to predict a full year combined operating ratio below 95%.
Generali UK launches policy administration system
Assicurazioni Generali's UK branch has gone live with a new non-life policy administration system from Agencyport Software.
Non-life premiums to stay suppressed until 2015
Non-life premiums will not rebound to 2003 levels until after 2015, according to Ernst & Young's economic forecast.
Credit card-linked insurance and assistance market worth €4bn in Europe
The market for packaging and cross-selling insurance and assistance policies linked to payment cards and bank accounts is lively and competitive in most European countries, according to research by consultancy firm Finacord.
QBE poaches Pryce from Ace UK
QBE has recruited Ace UK president Richard Pryce as deputy chief executive of QBE European Operations.
Ace appoints new leaders of UK and Ireland Retail
Ace Group has promoted a number of senior staff within its Europe, Middle East and Africa region.
Catlin given the go-ahead for Beijing office
Lloyd's reinsurer Catlin Group has been granted approval by the Chinese Insurance and Regulatory Commission to open a wholly owned representative office in Beijing.
Canopius promotes Manning to group COO
Specialist reinsurer Canopius has promoted Steve Manning to group chief operating officer with responsibility for all operational matters.
Hyperion to sell majority stake in CFC
Broker Hyperion Insurance Group and CFC Underwriting have agreed to sell Hyperion's majority stake in CFC Underwriting to a consortium of private investors and the management team.
Colemont relocates to THB building in London
Lloyd's insurance broker Colemont is relocating to THB Group's building in Leadenhall Street, opposite Lloyd's, on 23 April.
Alvert appointed CEO for Mapfre Assistance
Pablo Alvert has been appointed CEO and regional director for Mapfre Assistance, the UK arm of Mapfre Asistencia.
Axa sells Bluefin benefits consultancy to Capita
French insurer Axa has agreed to sell its employee benefits consulting business, Bluefin Corporate Consulting, to Capita for £50m on a cash-free, debt-free basis.
CGSC promotes Hooper to chief commercial officer
Wholesale reinsurance brokerage Cooper Gay Swett & Crawford has promoted Shaun Hooper to the new role of chief commercial officer.
Ecclesiastical targets rapid growth in Ireland
Specialist faith insurer Ecclesiastical plans to treble the size of its Irish business over the next five years, according to a report in the Irish Times.
Catastrophe-struck Lloyd's slumps to €619m loss
Following the second costliest year for catastrophes on record for the insurance industry, Lloyd's today announced a loss of £516m (€619m) for 2011.