Mutuals
Shipowners commit to UK Club
The United Kingdom Mutual Steam Ship Assurance Association, better known as the UK P&I Club, has attracted over 3m gross tons of new tonnage, following the closure of renewal season on 20 February 2013.
Filipino insurers struggling with regulation and solvency requirements
Thirty-two insurers and mutual benefit associations in the Philippines are under various stages of conservatorship, receivership or liquidation, according to the country's Insurance Commission.
Mutuals outgrow insurance market, says new research
The period between 2007 and 2011 saw premium income for the world's mutual and cooperative insurers grow by 25.4%, compared with 12% for the insurance market as a whole.
Amice welcomes EC report on European mutuals
The Association of Mutual Insurers and Insurance Cooperatives in Europe welcomed the publication of the European Commission’s report on the current situation of mutual in Europe today.
AMICE backs European Commission report on mutuals
The Association of Mutual Insurers and Insurance Cooperatives in Europe has praised a European Commission study into mutuals for highlighting their value in light of European economic instability and the financial crisis.
Interview: James Reader - A time for plain sailing
After a stormy year for French insurer Covéa and its subsidiaries on these shores, James Reader, chief executive of the newly merged Covéa Insurance, tells Post why the UK arm of the company can steady the ship.
Covéa launches in UK
Covéa Insurance, the business created from the merger of MMA Insurance and Provident Insurance, launched today, promising to deliver "the quality, consistency and financial reassurance that our broker partners and customers value".
Società Reale Mutua di Assicurazioni's outlook negative due to weaknesses
Italian insurer Società Reale Mutua di Assicurazioni and its Spanish subsidiary Reale Seguros Generales have been issued with insurer financial strength ratings at 'BBB+' with negative outlooks.
German Mutual Insurance downgraded after wind strom hits results
German Mutual Insurance Company has had its financial strength rating downgraded to B+ (Good) from B++ (Good) and issuer credit rating to 'bbb-' from 'bbb'. The outlook for both ratings is negative.
Cornish Mutual wins chartered status
Cornish Mutual has been awarded Chartered Insurer status in recognition of its standards of professionalism and customer service.
A mutual future?
Regulations like Solvency II will have a significant impact on mutuals across Europe. Francesca Nyman asks whether the model will survive.
Tapiola and Local Insurance agree outsourcing deal with Tieto
Finnish insurers Tapiola and Local Insurance Group have signed a five-year deal to outsource IT infrastructure services to Finnish IT services company Tieto.
Reinsurance key to mutual survival, says Willis Re president
Reinsurance can be crucial to ensure mutual insurers survive difficult periods, according to Willis Re president Paddy Jago.
AMICE report charts rise of European mutuals
Mutual and cooperative insurers now have a 26% share of the European insurance market, according to a report by the Association of Mutual Insurers and Insurance Cooperatives in Europe.
Liberty Mutual names Martella senior VP for commercial markets
Liberty Mutual Insurance, the commercial lines division of Liberty Mutual Insurance Europe, has named Anthony Martella as senior vice president of its commercial markets unit.
Diversification key to favourable ratings for mutuals
The unique characteristics of mutual insurers mean that some are being encouraged towards diversification by regulators and rating agencies, according to a report by Willis Re.
European mutual insurers meet in Poland
Europe's mutual and cooperative insurers will hold their third biennial Congress from 6 to 8 June 2012 in Gdansk, Poland, with Lech Wałęsa, Nobel Peace Prize winner and founder of the Solidarność movement, as guest speaker.
TT Club still in surplus despite 2011 cats
Freight transport and logistics insurer the TT Club has said it kept its combined ratio below 100% in 2011 despite a record year for catastrophe claims.
Education terrorism mutual promotes Gorringe from deputy to chairman
UM Association (Special Risks), a terrorism insurance mutual for universities, has named Edinburgh University finance director Jon Gorringe as chairman.
Cuna teams up with Golden Charter on funeral protection
Mutual sector insurance provider Cuna Mutual has partnered up with a non-for-profit to provide affordable funeral protection.
Q&A Peter Solloway
Peter Solloway, business development manager for Continental Europe at FM Global, pictured, spoke to Stephanie Denton about the challenges facing the French insurance market including exposure to nat cats, supply chain issues and distribution challenges.
Liberty Mutual Europe appoints senior claims figures
Liberty Mutual Insurance Europe has made three senior appointments to its claims operations as part of its quest to provide claims service on a local basis.
View from the top: Getting power to the people
The insurance industry is in a unique position to generate opportunity from challenge, says Hamish Roberts.