Insurer
Middle East Insurance Company achieves rating of 'B++'
Middle East Insurance Company has had its financial strength rating of B++ (Good) and the issuer credit rating of “bbb”, with stable outlooks.
Union accuses Aviva of job cuts programme via the back door
Aviva has warned that up to 800 jobs are at risk within its UK business as part of a push to cut costs by new chairman John McFarlane.
Sale frees NY fed of AIG toxic assets
The Federal Reserve Bank of New York has made billions of dollars in revenue for US taxpayers with the sale of the last toxic assets acquired through its bailout of AIG in 2008, according to US press reports.
Co-op goes for growth in household sector
Co-operative Insurance director of general insurance David Neave said the firm has written a higher volume of home insurance policies compared to motor policies this year so far in a bid to “redress the balance” within its personal lines portfolio.
Transactor to go live with new broker telematics offering
Insurance software specialist Transactor has teamed up with broker Carrot Car Insurance to produce a new personal lines telematics offering.
European results poll
How is European results season going?
Allianz retail boss jumps ship to join First Central as marketing director
First Central bosses have signalled their intention to strengthen the firm’s online offering following the appointment of former Allianz Retail head of direct business Andy James as group marketing director.
Laptops and televisions top the bill for most fraudulently claimed items
Bogus claims for lost, stolen or damaged iPhones have risen by 100 fold over the past two years, according to VFM Services.
American expansion gathers momentum at BMS following key hire
BMS has moved to further bolster its US reinsurance operation following the appointment of Chuck Hewitt to the joint role of senior producer, executive vice president and member of it stateside leadership team.
Ecclesiastical introduces rate rises after £14m underwriting loss
Church insurer Ecclesiastical plans to put up motor and household rates by up to 15% after posting a half year underwriting loss of £14.4m, which was more than double the £6m it was last year.
Asia View from the Top: Risk and opportunity abound
The economy of Asia has been rapidly growing. It now accounts for one-third of world gross domestic product and is likely to exceed 50% by 2050.
European View From The Top: Growth opportunities
Among all the doom and gloom you might think the chances of growth in the near term are slight, if not negligible.
13% growth in CEE helps VIG Group profit grow 7%
The Vienna Insurance Group has posted a 7% increase in profit for the first half of 2012 compared to 2011, helped by a 13% growth in profit from Central and Eastern Europe.
Fraudster busted after downloading image to exaggerate paper-cut
A would-be fraudster who suffered a paper-cut while at the gym has been cautioned by the Insurance Fraud Enforcement Department after downloading an online image of a wound to support a £500 claim.
Motor claims account for 50% of compensation paid by Taiwan insurers
Taiwanese general insurers paid out compensation of over NT$29.5bn ($983.3m) in the first half of 2012, up 10% year on year according to the Taiwan Insurance Institute.
Bangkok Insurance to sell products in Laos and Cambodia
Bangkok Insurance has confirmed plans to sell its products in Laos and Cambodia in preparation for the region's economic integration in 2015.
ITAS Mutua rating affirmed at 'BBB'
Italian insurer ITAS Mutua's has had its insurer financial atrength rating affirmed at 'BBB' with a negative outlook.
Co-op Insurance operating profit up 346%
The Co-operative Insurance has reported a vastly improved operating profit of £30.3m in the first half of 2011 compared to the same period in 2011 (£6.8m).
Reinsurers more risk-focused after Asian catastrophes
The spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their underwriting approach and risk appetite according to Fitch Ratings.
Howden moves to second stage of energy development with double capture
Howden has outlined the next phase of its energy division development following the appointment of Greg Stenzhorn and Richard Bateman, who join the firm from Aon Benfield and Price Forbes respectively.
Chinese insurance complaints up 127% in 2012
The China Insurance Regulatory Commission received 6 176 complaints from insurance customers in the first half of 2012, up 127.23% compared to the same time in 2011.
China to expand investment options for insurers
The China Insurance Regulatory Commission is expected to announce policies to improve the competitiveness of insurers through an expansion of their permitted scope of investment.
Transactor ramps up claims management software
Insurance software provider Transactor Global Solutions has unveiled a number of new features to its claims management software having completed a review and rewrite of the product.
IAG sheds $300m assets ahead of potential UK business sale
Insurance Australia Group has written off AUD$297m (£196.6m) remaining goodwill and intangible assets associated with the UK business just months before it decides whether to sell its loss-making divisions.