Insurer
Car premiums need cross-ministry view
A group of MPs has called on the government to establish a cross-ministry committee to tackle rising motor insurance premiums.
China set for auto insurance market thaw
A possible thaw is set for China's lucrative compulsory auto insurance market for foreign insurers.
FSA fines Coutts £6.3m
The Financial Services Authority has fined Royal Bank of Scotland-owned Coutts for failings in connection with the sale of an AIG fund.
Markel reports 105% COR on nat cats
Markel said its combined ratio was 100% for the third quarter of 2011 compared to 93% for the third quarter of 2010 and was 105% for the nine months ended September 30, 2011 compared with 99% for the same period of 2010.
FSA to work with insurers to avoid costs from Solvency II delay
Commenting on the announcement yesterday that the Financial Services Authority plans to work with insurers to help them avoid costs from a 12 month delay to the introduction of Solvency II, Steven McEwan, of counsel in Hogan Lovells Financial…
Profits nosedive at Munich Re
Munich Re announced its third quarter operating profit was down 88% to €402m (2010: €3.4bn) and its consolidated profit was down 96% to €80m (2010: €2bn).
ABI to collate members' views on Solvency II consultation
The Association of British Insurers has begun the task of compiling the views of its members following the European Insurance and Occupational Pensions Authority’s decision to launch a Solvency II consultation.
Oxygen sells assets
Oxygen Holdings is to sell its subsidiary Robertson Taylor to Entertainment Insurance Partners for an undisclosed sum.
XL Insurance launches Bermuda professional lines department
XL Insurance Bermuda has today announced that it has created a new department within its Professional Lines unit to handle unique, complex insurance risks.
AIR releases inland flood model for Germany
AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
Telematics insurer secures 50 000th policyholder
Telematics-based insurer Insurethebox has today chalked up its 50 000th motor policyholder, just 16 months after the business was launched.
AIR releases German flood catastrophe model
Catastrophe risk modelling firm AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
Towers Watson hires five to make telematics programme global
Towers Watson has made five senior appointments to help roll out a programme that aims to support insurers in creating products priced according to the driver’s behaviour.
MMA to build on regional success with key appointments
MMA Insurance has moved to further bolster its regional offering with the appointment of five senior figures, following the news of a 50% growth in the sector.
QBE Canada names underwriting boss
Commercial lines insurer QBE has named Valerie Jobson as director of underwriting in its Canadian branch.
CED expands its network in Wallonia with the takeover of Bureau Farcy et Cie
Loss adjuster in the Benelux and Spainish regions, CED has expanded its presence in Belgium with the takeover of Bureau Farcy et Cie sprl.
Arista promotes Wormald in Leeds
Commercial lines underwriter Arista Insurance has promoted Neil Wormald to the position of branch manager for the North East of England in its Leeds office.
Now Health introduces currency flexibility for Europe
Private medical insurance provider Now Health International, has introduced a flexible currency facility for customers in Europe, the Americas, Africa and Asia Pacific.
Quinn relaunch delayed
The planned relaunch of Quinn Insurance as Liberty Direct has been postponed, according to the Irish Independent.
Hiscox cuts GWP in favour of profit
Hiscox has said its gross written premiums year on year reduced in the first nine months of the year by 3.0% to £1,169.5m (2010: £1,205.3m) as the group maintained underwriting discipline and walked away from poorly rated risks.
Helvetia Insurance Switzerland finally integrates Alba and Phenix
One year after takeover, Helvetia Switzerland is finalising the legal merger with its subsidiaries Alba and Phenix as announced on 1 November 2010.
Q3 market movements take toll on insurers' capital adequacy, S&P says
Recent financial developments, combined with marking-to-market of insurers' investments, has depleted European insurers' balance sheets, according to a report by Standard and Poor's.
CII launches initiative to boost young professionals
The Chartered Insurance Institute is hoping to bridge the generation gap between today’s industry leaders and tomorrow’s insurance professionals by launching broking, claims and underwriting focus groups.
Natcats and the insurance sector
The European Union is currently consulting on natural catastrophes. Vic Wyman reports on the part the insurance industry has to play.