Reinsurance
EL trigger litigation: the judgment
Today the Supreme Court put an end to years of uncertainty by ruling that the insurer on risk at the time of someone's exposure to asbestos is liable to pay compensation for their mesothelioma – regardless of the particular nuances of the employers'…
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.
Omega shareholders to reject Catalina offer
Omega shareholders could shun run-off business buyer Catalina Holdings' acquisition offer.
Allianz buys wind farms as part of renewables investment
German insurer Allianz has bought two recently completed wind farms in France from Nordex SE.
Malaysia sees improvements in corporate governance
Malaysia's quest to improve corporate governance in banks and insurance companies is seeing results, according to Malaysian news publication The Star.
Shipping sector faces new risks 100 years on from Titanic disaster
To mark the centenary of the Titanic sinking, Allianz Global Corporate and Specialty has recorded what it views as the biggest risks to the shipping industry today.
Eurozone crisis and Solvency II undermine Italian insurers' profitability
Italian insurers' growth and profitability is likely to remain subdued until the end of 2013, according to the latest report by Fitch.
Sompo Japan and Nipponkoa merge to create global P&C firm
Japanese non-life insurers Sompo Japan Insurance and Nipponkoa Insurance are to merge into a single company in the first half of the 2014 financial year.
EU foreign policy head confirms exemptions to Iran oil sanctions
Further details have emerged concerning the European Union's decision on Friday to allow some insurance for Iranian oil shipments heading for destinations outside the EU.
UK P&I club to establish UK Europe as sole direct insurance provider
The UK Protection and Indemnity Club has announced that it is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members.
Dissatisfaction could affect credit insurers' ability to recover in future
European credit insurers would be less able to rebound in a future crisis than they were in 2008/2009, according to Moody's latest insurance industry outlook.
Tawa shrugs off $21.6m loss in a year of "transforming"
Run-off specialist Tawa reported a loss after tax of $21.6m for the full year 2011, after a profit of $1.8m in 2010.
EU may allow limited coverage for Iranian oil shipments
Intense lobbying by South Korea and Japan has led the EU to relax its ban on insuring Iranian oil shipments, according to Reuters.
ISE 2012: Agility is 'name of the game' for European insurers
European insurers will need to be agile to survive, according to Capgemini's group vice president.
Talanx 'thoroughly satisfied' after posting €1.2bn profit
German insurance giant Talanx was "thoroughly satisfied" after increasing operating profit 21% to €1.2bn for 2011, despite a turbulent year for the eurozone and high incidences of natural catastrophes.
ISE 2012: Interest in cyber insurance 'overwhelming' in Europe
Speaking at Insurance Insight's inaugural Insurance Strategy Europe event, Jacob Ingerslev, European underwriting director for technology and cyber risks at CNA, said that interest from Europe in cyber crime insurance is growing rapidly.
ISE 2012: Portugal to follow Greece but sovereign defaults won't 'cripple' insurers
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Re, has predicted that Portugal will be the next nation to default, but that it will not cripple the insurance industry.
ISE 2012: Luzzi says firms must think in global terms
Opening the inaugural Insurance Strategy Europe event Jorge Luzzi, president of the Federation of European Risk Management Association and director of group risk management at Pirelli, told delegates that a global view is essential going forward.
Mexico quake damage "less than $100m"
The magnitude 7.4 earthquake that struck Mexico yesterday is expected to cause less than $100m of insured damage, according to catastrophe modelling firm Eqecat.
CNA to buy Hardy
US commercial property and casualty insurer CNA is to acquire troubled Lloyd's insurer Hardy Underwriting.
Bahrain celebrates inaugural 'Insurance Day'
Industry specialists gathered for Bahrain's first annual 'Insurance Day' today in a bid to increase insurance awareness in the Kingdom.
Ecclesiastical posts loss, despite Ireland performance
Specialist faith insurance providers Ecclesiastical made an overall pre-tax loss of £7.7m for the full year 2011.
AIR poaches Zurich global head of cat modelling
AIR Worldwide has appointed John Elbl as vice president of the firm’s business development group.
Kiln promotes MacMillan to active underwriter
Kiln has appointed Paul MacMillan, pictured, to active underwriter of its aviation division.