Insurer
Mixed 2012 renewals for global reinsurance market
The 1 January 2012 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter.
Cyber threat poses huge global risks
Fiscal problems, global connectivity and demographic shifts pose the biggest risks in the next few years, according to the World Economic forum’s 2012 Global Risks report.
Gallaghers confirms Canopius underwriting move
The CEO of AJ Gallagher International has confirmed a team from Canopius’ UK underwriting division is set to join the broker, hailing it a “massive step” for OIM Underwriting.
XL merges property and asset protection divisions
XL Group has combined its property underwriting and XL Global Asset Protection Services to form one unified team of risk engineers worldwide.
XL announces in-house underwriting and engineering merger
XL Group has combined its property underwriting team and global asset protection services engineers to form a unified international team of almost 200 risk engineers.
Guy Carpenter renewals report identifies shift in industry behaviour
The position by reinsurers to undertake a major review of pricing and underwriting heading into renewal season has led to “significant market fragmentation and increased volatility”, according to Guy Carpenter’s 2012 global reinsurance outlook.
Lifestyle Services Group names new CEO
Lifestyle Services Group has appointed Chris Harrison as CEO.
Deloitte predicts household premium rises of up to 10% in 2012
Household insurance premiums are likely to rise between five and 10% in 2012, according to Deloitte.
UK bankruptcy of Quinn Insurance owner annulled
A British court has annulled the bankruptcy of Sean Quinn, Reuters reports.
Insurers must not lose sight of long term challenges
Speaking as part of the Insurance Institute of London Lecture programme, Mark Hoban, MP, financial secretary to the treasury, said that there is “no place for complacency” in the insurance sector.
Cat losses for 2011 second highest on record
Total insured natural catastrophe losses of $107bn (£69bn) in 2011 were the second highest on record - surpassed only by the 2005 total of $120bn.
China's "cash before cover" regulation introduces ambiguity
Regulations designed to enhance cash flow for Chinese insurers will introduce ambiguity into the market and could lead to reduced policy coverage, according to Marsh China.
ATE insurer Elite enters solicitors' PI market in dramatic u-turn
Legal expenses provider and after-the-event insurer Elite Insurance Company will be entering the solicitors’ professional indemnity insurance market this year in a dramatic u-turn to its position last year.
Elite opens offices in France and Italy
Specialist legal and after-the-event insurer Elite is expanding its footprint in Europe by opening two new offices.
Canopius boss and underwriting team to quit
Canopius UK household underwriting head Chris McGinn and a “certain members” of his team are to quit the firm.
Chinese insurance sector faces "deeply-rooted problems" according to chief regulator
The head of China's Insurance Regulatory Commission has issued a stark warning to the country's insurance sector, despite robust premium growth in 2011.
Hyperion confirms Windsor takeover talks
Hyperion has confirmed that it is in discussions with Lloyd’s broker Windsor over a potential takeover deal.
Hyperion in takeover talks with Windsor
Hyperion Group is currently in discussions with Windsor Limited regarding a potential offer for the company.
Giles outlines new role for Hessett following Chambers exit
Bosses at Giles have defined the role of newly appointed deputy finance director Alastair Hessett, who has been promoted internally following the exit of former director Mark Chambers.
Rising medical costs behind potential 10% growth in Lebanese medical premiums
Medical insurance premiums in Lebanon will rise by 10% in 2012, according to projections by Lebanese insurance association, the ACAL.
Saudi insurers remain profitable despite low interest rates
Domestic insurers in the Kingdom of Saudi Arabia remain profitable despite increasing competition and the current low interest rate environment, according to a report by Standard and Poor’s.
Russian plant firms face ten-fold premium rises after new law
Stringent new legislation relating to the management and insurance of plants dealing in hazardous materials in Russia is set to have far-reaching implications for companies operating in the country.
Zurich's 'A+' IFS rating affirmed
Zurich Insurance Company's has had its ‘A+’ insurer financial strength rating and 'A' issuer default rating affirmed by Fitch.