United States of America (USA)
Admiral sells Chiarezza to BlackFin Assurance
Admiral has sold its Italian price comparison venture to BlackFin Assurance Courtage.
Onshore captives on the rise, says Marsh
Organisations are increasingly forming captives onshore in the European Union or United States, while the use of alternative captive structures is growing, especially among smaller organisations, according to Marsh.
Iran insuring oil tankers as sanctions bite
Iran is insuring tankers transporting its oil to buyers at a cost of millions of dollars per delivery, according to reports.
Aviva sale of US life assurance business could raise £1bn
Aviva group chief executive Andrew Moss has allegedly revealed that the firm may consider offers worth around £1bn for its US life assurance business, according to reports in the FT.
Property rates to keep rising in the short term
Despite the absence of a major natural catastrophe in the first quarter, rates rose for catastrophe and non-catastrophe exposed risks in most geographies, according to a Marsh report.
The challenges of the solar market
Solar power is a firm part of the green movement in Europe but, with government cuts becoming increasingly common, Jakki May asks whether this renewable energy will continue to be affordable and efficient.
Guy Carpenter reports reinsurance rises
Research by Guy Carpenter shows reinsurance rates rose at the 1 April round of renewals as the market continues to work through the impact of the events of 2011.
Aon’s McKenna steps down
Aon’s lead director Andrew McKenna has resigned.
Lockton launches global partnership
Broker Lockton today announced the formation of the Lockton Global partnership.
Cunningham Lindsey UK boss dismisses talk of bids from rivals
Cunningham Lindsey boss Phil McNeilage has told staff the decision by investors to cash in their majority stake is “highly unlikely” to lead to the loss adjusting giant falling into the hands of a market rival.
Ex-NY insurance superintendent calls for Solvency II equivalency
The former New York superintendent of insurance has warned that the transatlantic market could be destabilised if the Solvency II equivalency issue is not resolved.
United Healthcare International in deal to offer service in Middle East
United Healthcare International is to offer international insurance coverage to employers with staff in the Middle East through an alliance with Dubai-based Al Sagr National Insurance Co.
Cat price rises inadequate, says Canopius
Canopius executive chairman Michael Watson has said that tenfold increases in premiums in Thailand have been exceptions, and complained that insurers have not done enough to raise rates across the board.
Ancillary income still under scrutiny, despite boost to Admiral profits
After easing the pressure built up during a bodily injury claims-ravaged third quarter, bosses at Admiral have been warned that this year's hot topic of ancillary income could yet provide a sting in the tail.
Bupa profits rise outside the UK
Private medical insurer Bupa has announced revenues up 6% to £8bn and an underlying surplus up 20% to £559m.
Mapfre's new chairman predicts growth
Antonio Huertas has said the Spanish insurer expects to achieve revenues of more than €25,000m in 2012, equivalent to a 6% increase, in a year that will be "hard" and "demanding".
US targets global insurers with growing Iran sanctions
US lawmakers plan to introduce legislation that would extend the remit of sanctions on trading with Iran to global insurers, according to Reuters.
A winning combination: interview with Paulino Fajardo and David Pollitt
Davies Arnold Cooper and Beachcroft merged in late 2011 under the DAC Beachcroft banner. Paulino Fajardo and David Pollitt discuss the tie-up and their plans for the future.
Insurers face up to $2bn tornado bill
Eqecat has estimated that the latest series of severe weather events in the US has produced $1bn to $2bn in insured losses.
Early start to US tornado season
More severe weather hit central and southern regions of the US over the weekend, spawning several tornadoes that killed at least 39 people and caused widespread property damage, according to reports.
Hiscox shuffles US management
Hiscox is to bring current US CEO Richard Watson, pictured, back to London to be deputy chief underwriting officer for the group and has promoted Ben Walter in his place.
Zurich operating profit down 12%, but net income up 10%
Zurich Financial Services Group reported net income after tax of $3.8bn for the full year 2011, up 10% from $3.8bn in the prior year period.
Munich Re transfers US hurricane and European windstorm risks to the capital markets
Munich Re has acquired coverage for US hurricane and European windstorm risks with a total volume of $75m from the special purpose insurer Queen Street V Re Limited, which in turn has placed a catastrophe bond for this amount in the capital markets.
Tysers snaps up Ropner team to head up North American D&F operation
International Lloyd's broker Tysers has snapped up a three-strong management team from Ropner Insurance Services to head up the firm's direct and facultative property operation in the North American international specialty division.