Property
Axa MGA stance leads to 13% cut in volumes
Axa Insurance's strategy of lifting rates and exiting relationships with managing general agents has led to a 13% reduction in volume in its commercial lines book over the course of 2009.
Barrie & Hibbert seal Dexia Insurance ESG deal
Belgian company Dexia Insurance has appointed Barrie & Hibbert to provide an Economic Scenario Generator to assist in its Solvency II compliance and MCEV calculations.
FM Global to Commemorate 175th anniversary
Business property insurer FM Global is to host a year-long commemoration of its 175th anniversary in 2010.
Lloyd's broker expands overseas footprint with acquisition
Windsor has completed a deal for the minority interest in BGH Risk Solutions, a liability broker that operates in Canada, New Zealand and Australia.
Towergate boss Cullum hails John Charcol swoop as a "perfect fit"
"To have the leading high net worth mortgage broker in the group gives us a huge opportunity to provide mortgages to our high net worth customers and SME owners," he added.
UBS, Goldman said to get AIA IPO roles
Investment banking giants UBS and Goldman Sachs have been appointed joint bookrunners for the IPO of AIG's life unit, AIA, the Financial Times has reported.
Commercial landlords warned over environmental liability
Cowens claims they could face claims for damages and be subjected to action from regulatory bodies for failing to address environmental safety, even if it is a tenant who is at fault.
Select & Protect urges brokers to help homeowners cover gadgets
Select & Protect has urged brokers to help policyholders effectively cover their mobile phones, mp3 players and other gadgets under their household policies.
QBE appoints new Manchester property underwriter
QBE European Operations has appointed Simon Smith as property underwriter in its Manchester office.
Madeira floods cause extensive damage
Violent flooding on Portuguese holiday island kills at least 42 with reports of major damage to buildings and transport infrastructure
Madeira floods cause extensive damage
Violent flooding on Portuguese holiday island kills at least 42 with reports of major damage to buildings and transport infrastructure
Aegis enters reinsurance treaty market
Aegis London has entered the reinsurance treaty business with the appointment of Chris White as property treaty underwriter.
Aviva warns of the importance of having the right insurance
With the increase in empty shops on UK high streets, Aviva is warning property owners of the importance of having the right insurance in place in the event of crime and malicious damage.
Sterling launches executive business product
Sterling Insurance has launched a new executive business product which includes cover for the departure of lotto winning employees and PR costs for reputational damage.
Axa UK GI earnings dip 63% after £157m fire and weather losses.
Globally, Axa Group reported underlying earnings down 6% to €3854m versus 2008, adjusted earnings down 8% to €3468m and net income up 283% to €3606m (on a comparable basis).
Axa UK GI earnings dip 63% after £157m fire and weather losses.
Globally, Axa Group reported underlying earnings down 6% to €3854m versus 2008, adjusted earnings down 8% to €3468m and net income up 283% to €3606m (on a comparable basis).
Endurance reports net income rise
Endurance Specialty Holdings reported net income of $154.8m for the fourth quarter of 2009 versus net income of $16.9m for the fourth quarter of 2008.
Platinum Re will have a "challenging" 2010
This year will be a "challenging" one for Platinum Underwriters, the company's chief executive has said.
Swiss Re says capital position "fully restored"
Swiss Re said that it has excess capital of 9bn CHF at 'AA' ratings level, and added that its capital position is 'fully restored'.
Provident is front runner for Tesco motor panel
Tesco Bank is poised to sign deals with several insurers, including up-for-sale Provident, to handle "non-standard risks" as part of a panel arrangement, Post has learnt.
Haiti reconstruction could cost $14bn
Study from the Inter-American Development Bank claims Haiti earthquake more destructive than any modern natural disaster.
L&G reports 8% dip in general insurance
Insurer said it had prioritised profitability over volume and positioned itself to target profitable opportunities in 2010.
Montpelier continues Bermuda's upward trend
Montpelier continued a postive trend for Bermudian (re)insurers by recording a sharp return to profit in its fourth quarter and 2009 results.
Divisional head leaves Lockton
One of Lockton's senior brokers has left the privately-owned broker, sources have told Reinsurance.