Mutuals
FM Global to pay out $465m membership credit
Commercial property insurer FM Global is to pay out a collective premium credit of $465m (£275m) to its clients when they renew their policies between 30 June 2014 and 29 June 2015.
UK P&I increases renewal premiums 7%
The UK P&I Club has announced boosted figures following the close of renewals for 2012, witnessing a 7% estimated increase of renewal premium.
Police Mutual expands with Forces Financial deal
A mutual insurer supporting 200 000 police officers and their families is to expand with the acquisition of a provider of financial products to the military and police.
Co-op ‘gets out of jail’ with refinancing deal to avoid selling GI business
Mutual was unlikely to find an acceptable value for unit.
Interview: Hugo Wynn-Williams: Steadying the ship
Amid the ongoing economic downturn and the constant threat of piracy, Thomas Miller chairman Hugo Wynn-Williams explains how the protection & indemnity sector is navigating the choppy waters.
Mutual chief calls for Treasury support for Share Bill and better PRA engagement
The Government has been urged to get behind the Mutual Redeemable Share Bill that was introduced by Lord Naseby in July.
More women take the helm at mutual insurers
Despite insurance having a reputation for being run predominantly by men a study has shown in the cooperative and mutual insurance sector women are taking a much more significant role.
Enoizi named chief executive of Pool Re
Julian Enoizi is to become chief executive of UK government-backed terrorism mutual Pool Re.
Enoizi appointed chief executive of Pool Re
Julian Enoizi is to become chief executive of UK government-backed terrorism mutual Pool Re.
Liberty Mutual Insurance expands commercial casualty team
Liberty Mutual Insurance has expanded commercial casualty team with two new appointments.
Wesleyan strengthens dental market presence with Practice Plan take-over
Wesleyan Assurance Society has acquired the Practice Plan Group from private equity firm Dunedin.
Guy Carpenter launches mutual specialty practice
Guy Carpenter has launched a specialty practice focusing on mutual insurance companies.
Hellenic P&I club waives 50% of annual premium
Members of the Hellenic War Risks Club will pay 50% less for war risks insurance in 2013 following a decision by club directors to waive the second installment of the annual premium.
Mutuals hit harder by some cat losses, says Willis Re director
While many of the claims issues arising from catastrophe losses are common to the insurance industry, some are more acutely felt by mutual insurers, Willis Re’s technical claims director has warned.
Mutuals can capitalise on changing reinsurance framework
Savvy mutual insurers stand to benefit from changes in the traditional reinsurance market, according to Willis Re.
Cornish Mutual profit exceeds £2m
Truro-based insurer Cornish Mutual has reported a 9% increase in gross written premium to £19.2m (2011: £17.6m) in the full-year to September 2012.
Fellow mutuals deny interest in Co-op GI arm as Truell bid rumoured
Mutual insurers LV and NFU Mutual have ruled themselves out of competing for The Co-operative’s general insurance business, which is understood to have caught the attention of a group of financiers.
Hostile ABI response to ‘inferior’ Flood Mu model sparks wider debate
The Association of British Insurers’ attempts to derail a proposal put forward by Marsh to secure a mutualised solution to flood risk have been criticised by politicians and industry insiders.
Mutual growth outpaces traditional insurers since the crisis
European mutual insurers have managed to wrestle 10% of the general insurance market from their traditional counterparts since 2007, a new study has shown.
Lower claims frequency hits Charles Taylor adjusting profit
Growth in Charles Taylor's management services and Isle of Man-based run-off insurance business in 2012 have offset reduced earnings in its adjusting services business, which was hit by a lower number of complex claims than the previous year.
Analysts cast doubt on Co-op’s ability to sell off general insurance business
The Co-operative Bank may struggle to offload its general insurance business as part of a bid to make up a capital shortfall that is expected to result from a market-wide investigation of banks by the Financial Services Authority.
Penny speed meets... Martin Shaw, chief executive, AFM
Being an insatiable socialite, Penny Black is always eager to probe the personalities behind the professional veneer of her industry friends. What better way to squeeze in and share as many intimate revelations as possible than her very own 'speed…
Thomas Miller boosts Asia Pacific office
Andrew Jones will become CEO of Thomas Miller (Asia Pacific), which manages mutuals, from the beginning of April.