Insurer
Standard & Poor upgrades Swiss Re to AA-
Standard & Poor has upgraded Swiss Re from A+ to AA- following the firm success in derisking its asset portfolio, convertible perpetual capital instrument with Berkshire Hathaway and stabilised its net income.
Greek debt exchange won't lead to insurance downgrades, says Fitch
Leading insurers across Europe have been told that manageable exposure to Greek government bonds will mean they will not be downgraded if they accept the EU's offer of a 50% haircut in return for new debt, according to Fitch Rating.
TGSL reports 24% growth for 2011
Insurance software house, Transactor Global Solutions reported turnover of £5.2m for 2011, an increase of 24% year on year.
Swiss Re upgraded to 'AA-'
Standard & Poor's Ratings has raised its long-term counterparty credit and insurer financial strength ratings on Swiss Re and its core subsidiaries to 'AA-' from 'A+'. The outlook on all of these entities is stable.
Insurance Insight weekly update live - 28 October
Insurance Insight's weekly update is live with an article on Pan-European and Global business interruption cover; and a View from the Top on how insurers must be as global as the firms they work with.
Pan-European and global business interruption cover
As businesses become increasingly global Roger Potts explains that brokers must make sure their knowledge of their clients is detailed enough to ensure the correct business interruption cover is in place should the worst happen.
View from the Top: Big business made easy
As businesses grow and expand their global reach it is more important than ever for insurers to deliver consistently across the globe.
European fleet motor insurance poll results
Is European fleet still an attractive option for insurers?
No insurance downgrades expected despite Greek exchange
Leading insurers across Europe have been told that manageable exposure to Greek government bonds will mean they will not be downgraded if they accept the EU's offer of a 50% haircut in return for new debt.
FSA packaged accounts rules to create simpler sales process
PwC has welcomed the Financial Services Authority’s proposed new rules to increase consumer protection in the packaged account market.
Transactor reveals growth of 24%
Transactor Global Solutions and associated companies have today announced turnover of £5.2m , an increase of 24%, and pre-tax profits for the group of £0.5 million, an increase of 18%, for March 2011.
Nexus hires ex- Zurich chief for director role
Nexus Underwriting Management, parent company and management services company to Torus Executive Risks and Nexus Financial Products has recruited Andre Ford as development director to complement its existing management team.
Allianz welcomes EU debt crisis agreement
Allianz has welcomed the European Union agreement in Brussels to solve the debt crisis in Europe.
LV fills insurance void in Exeter
LV Broker plans to pick up where Aviva and NIG left off in Exeter by doubling its commercial book of business in Devonshire over the next four years.
Swedish Lansforsakringar's ratings on negative watch
Moody's has put Swedish health insurer Lansforsakringar's 'A2' IFSR and 'A3' issuer rating on negative watch.
Axis launches liability unit in Argentina
Loss adjusting network Axis has launched a liability claims units in Argentina to provide dedicated specialist support to local carriers and the international reinsurers.
Thai floods: Insured losses to be "managable", says Fitch
Insured losses from the Thailand floods will be “manageable” at $4.5bn and not trigger widespread solvency problems, or undue financial strain for the country’s non-life insurance players, according to Fitch Ratings
Aspen suffers nine month losses of $193m
Aspen Insurance Holdings reported underwriting losses of $193.8m in the first nine months of this year compared to a profit of $74.6m last year.
Insurers warned over FSA bank account consultation
Law firm Beachcroft has warned that Financial Services Authority consultation on the way packaged bank accounts are offered could provide a “significant hurdle” for insurers offering add-ons.
Ecclesiastical names MD for Ireland
Ecclesiastical has appointed David Lane as the new managing director for its Ireland business.
Ecclesiastical appoints Foley's replacement as Ireland MD
Specialist charity and heritage insurer Ecclesiastical has appointed David Lane as the new managing director for its Ireland business.
BLG to close Singapore office
Insurance law firm Barlow Lyde & Gilbert will close its office in Singapore following its merger with Clyde & Co.
Thailand flood losses manageable for insurers
While the current flooding in Thailand is unusually severe and economically costly, the insured losses are likely to be at a manageable level and will not trigger widespread solvency problems, or undue financial strain, for the country's non-life…
Extending the ELD could have damaging consequences
A proposal today by the EC for a new law to regulate safety standards for offshore oil and gas operations could have unintended consequences for the environmental liability market, according to the CEA.