Insurer
96% of young drivers priced off the road
A survey by Young Marmalade ahead of today’s Transport Select Committee hearing with Jack Straw, found that 96% of young drivers feel they have been priced off the road by high insurance premiums.
Ex-KPMG insurance leader joins RSA as NED
RSA has appointed Alastair Barbour to its board as a non-executive director as of today.
Law Society raises Quinn concerns in Irish High Court
The Law Society has been to the Irish High Court to ensure the interests of the 500-plus solicitors who have run-off professional indemnity insurance cover with Quinn Insurance will not be affected by the transfer of some of its insurance business to…
Law Society raises concerns in Irish High Court for 500-plus solicitors
The Law Society said it has received sufficient assurances from the Irish government and the joint administrators of Quinn Insurance that the interests of the 500-plus solicitors who have run-off professional indemnity insurance cover with Quinn will not…
Mitsui takes on Axa’s property team
Mitsui Sumitomo at Lloyd’s has taken on the five-strong property owners’ team that left Axa earlier this year, led by Mike Phillips who was head of specialist markets.
Allan Clare resurfaces at Barclaycard
Former RBS Insurance risk and financial crime boss Allan Clare has moved out of insurance and into the better-resourced world of credit cards, becoming head of financial crime at Barclaycard.
Insurers best insulated against Euro debt default worries
Insurers and reinsurers are best insulated against Eurozone sovereign debt default worries according to Ernst & Young.
Mageean vows to forge broker relationships in new role
Bernard Mageean has vowed to forge strong relationships between brokers and insurer partners after being appointed director of insurer relations at Broker Network and Countrywide.
Pemberton launches €500m private fund
Specialist private equity firm Pemberton Capital Advisors is launching a €500m European Services Fund targeting the financial services and telecommunications sectors in Europe.
XL tackles under and over insurance with property valuation product
XL insurance has joined forces with American Appraisal to offer what it claims are independent and unbiased valuations to customers.
Douetil departs in Brit boardroom coup
The consultant advising Brit Insurance on future strategy, Mark Cloutier, is to replace the insurer’s current chief executive Dane Douetil from 27 October.
Solvency II forces actuaries back on the government’s skills shortage list
A shortage of actuaries to deal with Solvency II projects has forced the UK government to relax its visa rules, according to Re Think Recruitment.
Charles Taylor Consulting acquires Alico Isle Of Man
Charles Taylor Consulting has agreed to acquire Alico Isle of Man, a closed international life assurance company, with equity shareholders’ funds of £1.8m, from American Life Insurance Company.
Swedish Sirius has rating affirmed
Sirius International Insurance Corporation of Sweden has has its financial strength rating of A (Excellent) and the issuer credit rating of "a" affirmed by AM Best.
US P&C insurers’ H1 COR hits 110.5%
Private US property and casualty insurers’ net income after taxes fell to $4.8bn in the first-half of 2011 from $16.8bn in first-half of 2010, a report from ISO and the Property Casualty Insurers Association of America says.
E&Y says insurers are best insulated against Euro debt default worries
Ernst & Young has said insurers and reinsurers are best insulated against Eurozone sovereign debt default worries.
RBSI reveals £15m referral fee windfall
Royal Bank of Scotland Insurance benefitted from referral fee income of £15m in the first half of this year – more than 7% of its H1 profits.
IFB calls for vigilance following latest crash for cash conviction
Insurance Fraud Bureau director Glen Marr has highlighted the organisation’s successful partnership with police following the latest in a long line of ‘crash for cash’ convictions.
Eurozone sovereign risk manageable says Fitch
Eurozone sovereign risk is the biggest threat to insurers’ credit ratings, but despite this a default by Greece or Portugal would not trigger significant downgrades, Fitch said today.
Manchester police authority calls on loss adjusters to look at riot claims
The Greater Manchester Police Authority has appointed a panel of loss adjusters to help with riot-related claims.
Insurance Insight October is now live
Insurance Insight October is now live with an article on ratings across Europe; a look at how a huge cloudburst in July has affect the Danish insurance market; and an interview with Alberto Corinit, formerly of the CEA and CEIOPS.
Severe weather sets new agenda for Danish insurance firms
Denmark was this year hit by the worst cloudburst ever seen in the country and experts are predicting that weather of this type will only increase. As the insurance market recovered from these claims Anne-Louise Fogtmann asks what they are doing to…
Q&A: Alberto Corinti
Alberto Corinti, director at Promontory Financial group, formerly of the CEA and the Committee of European Insurance and Occupational Pension Supervisors spoke to Francesca Nyman, giving a regulator’s perspective on the biggest challenges facing the…
UK regulator expects Solvency II to be delayed
The UK's Financial Services Authority has said it expects insurers to have to comply with Solvency II rules from the delayed 1 January 2014 date.