Regulation
Fitch: OCIL's $50m Avalon Re NY steam loss triggers downgrade
Bermuda-based oil industry mutual Oil Casualty Insurance Ltd (OCIL) is to cede $50m of losses to its Avalon Re securitisation vehicle, triggerig a downgrade of its lower grade notes.
European Health Insurance Card fuels travel underinsurance
British travellers are highly confused about the new European Health Insurance Card and as a consequence millions of people are putting themselves and others at risk by not properly insuring themselves when they are abroad, in the mistaken belief that…
Brazilian reinsurance market opening expected to be delayed - sources
Brazilian authorities are expected to announce the delay of the opening of its reinsurance market, sources have told Reinsurance .
EU's Solvency II move "too important to fail" - McCreevy
The European Union’s move toward Solvency II is “too important to fail,” Charlie McCreevy, the European Union's commissioner for internal market and services, told a London insurance conference.
Industry pushes DfT for e-certificates action
Motor Report
Broker giants need to team up to halt FSA plans
Just when we thought the issue of mandatory disclosure could be put to bed, along comes the Financia...
PwC approves VAT calculation proposals
A partner at Pricewaterhouse Coopers has welcomed the European Commission's proposals to reform the ...
Scrapheap challenge
Motor Report
NU urges flood caution
Norwich Union has urged homeowners to protect their properties as new research reveals that those in...
Transamerica Reinsurance in Brazilian reinsurance registration
Transamerica Re, a reinsurance subsidiary of Dutch insurance giant Aegon, has said it will be taking steps to be registered as an admitted reinsurer in Brazil.
Lord Hunt calls on FOS to be more transparent
Lord Hunt of Wirral has published his independent report into the Financial Ombudsman Service: "Opening Up, Reaching Out and Aiming High."
Recession is of concern to UK market - S&P
US ratings agency Standard and Poor's claims that despite the strength of results and ratings, the increased risk of recession is a concern for the sector.
POST launches new training arm
Post has launched a new training programme under its new Post Training brand. The first course on offer focuses on professional price management in insurance .
Caribbean Cat fund announces board appointments
The Caribbean Catastrophe Risk Insurance Facility has appointment Isaac Anthony and Dr Warren Smith to its board to represent the interests of CARICOM - the Caribbean Community - and the Caribbean Development Bank respectively.
Swiss Re enters emissions reduction agreement in China
Swiss-based reinsurance giant Swiss Re has entered into an emissions reduction purchase agreement in northern China with Hebei Construction Investment New Energy.
Swiss Re UK CEO presents FSA with regulatory 'wish-list'
Swiss Re’s UK chief executive has presented a regulatory “wish-list” to the Financial Services Authority’s Annual Insurance Sector Conference today.
Claims company diversifies into glazing with new subsidiary
As part of its strategy to diversify into new markets, drainage specialist UKDN has launched UKGN – the UK Glazing Network.
Austen leads MBO of Gallagher Re's Asia arm
Richard Austen, the former chief executive of Arthur J. Gallagher’s Asian reinsurance broking arm, has led his group to a managing buyout of the unit.
Aviva swoops for private medical insurer
Norwich Union's parent Aviva today announces that its insurance business in Ireland, Hibernian, has agreed to acquire 70% of Irish health insurance business VIVAS Group.
XL Insurance names Horovitz as CUO of professional lines business
XL Insurance, the global insurance operation of Bermudian (re)insurer XL Capital named Bernard Horovitz to be Chief Underwriting Officer of its Global Professional lines of business.
Fortis revamps commercial book
Fortis has announced enhancements to its commercial guard portfolio of 10 products that sees an increase in cover levels across the entire range.
IRM: risk qualification will improve fundamental skills
A new risk management qualification has been launched by the Institute of Risk Management. The cert...
Confusion as regulator denies Willis claim
Willis has been rebuked by the Saudi Arabian financial authorities for prematurely claiming it had b...
Home Office bows to vehicle removal pressure
The Home Office has backed down from its original proposals for massive hikes in vehicle removal fee...