Europe
Fitch revises negative view of UK general insurance market
Fitch Ratings has revised its rating outlook on the UK non-life sector to stable from negative.
Allianz hails microinsurance success
Allianz Life Indonesia and Allianz Utama Indonesia (Allianz Indonesia) sold a combined total of 347 000 microinsurance policies in 2009.
Airmic: members will have to take Solvency II pain for little gain
The Solvency II reforms as currently proposed would reduce the amount of insurance capacity available to UK businesses and put up the cost of cover, the Association of Insurance and Risk Managers has warned.
Garratts agrees €700k warranty deal
Lancashire-based insurance broker Garratts has secured a contract to arrange tyre warranties worth €700 000 in Spain and Portugal.
Marsh: concerns persist over environmental liabilities
The heightened environmental liabilities created by recent European Union and UK environmental legislation were among the top risk management concerns raised by delegates at this week's Base conference in London, according to Marsh.
Former RSA CEO Bridget McIntyre set to take Fortis exec role
Former RSA UK CEO Bridget McIntyre is in line to become a non executive director of Fortis.
Ace outlines $125m cat losses from first quarter
Ace has announced its estimated net after-tax losses in the first quarter from natural catastrophes will be approximately $125m, including reinstatement premiums.
FM Global reports gross premium increase for 2009
Business property insurers FM Global has announced gross premium in force of $4.7bn (£3.0bn) as part of its end of year results for 2009 – an increase of more than 5% year-on-year.
Aviva enters Indonesian market
Insurer acquires a 60% stake in PT Asuransi Winterthur Life Indonesia.
ABI director general slams ‘extremely conservative’ CEIOPS' Solvency II approach
New Association of British Insurers director general Kerrie Kelly has criticised the Committee of European Insurance and Occupational Pensions Supervisors for its approach to Solvency II.
XL faces $230m losses from Chilean quake and European windstorm
XL Capital has announced preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia.
New Novae Re offices open in Zurich
Novae Group has opened its new offices in Zurich, as it hopes to capitalise on what they say is the increasingly important European reinsurance marketplace.
UK and Norway form RM alliance
The Norwegian Risk Management Association and the Institute of Risk Management have announced an agreement whereby NORIMA will promote IRM’s qualifications to its members at a preferred partner rate.
FSA targets Solvency II and PPI in business plan
The Fiancial Services Authority will focus on Solvency II preparation and the conduct of payment protection insurance providers in its 2010/11 business plan.
Belgian insurer signs deal to help achieve solvency II compliance
Belgian insurance company Mercator has taken Barrie & Hibbert's Economic Scenario Generator. The main application of the ESG will be economic capital management and assistance in ALM decisions.
PZU settlement and Polish exit adds €1.1bn to Eureko bottom line
Gross written premiums increased slightly over 2009 by 2% to €19.6bn against €19.3bn in 2008.
Aegis London outlines plans for Prague
The group will be holding its third annual European Energy Conference at the Inter Continental Praha hotel in Prague from the 14-15 April, 2010.
Ceiops stress test highlights industry resolve in the face of crises
Ceiops has declared that in an adverse scenario, which mirrored the development of capital markets between the end of September 2008 and the end of September 2009, its recent exercise resulted only in a marginal impact of a loss of 10bn euro,…
LIU Europe expands into Birmingham
Liberty International Underwriters Europe has expanded its regional operation into Birmingham with the appointment of Dave Canning as regional senior underwriter.
Hiscox faces £100m Cat losses
Hiscox has estimated that it faces £100m worth of claims as a result of the Chilean earthquake and the European windstorm Xynthia.
Spotlight on Spain - The Spanish direct insurance market
At its traditionalist heart, the insurance industry has always existed on the tried and tested intermediary-based distribution channel, with the broker or agent, a champion of the policyholder, working tirelessly to find the consumer the best deal.
Interview: Lovells' Joaquin Ruiz Echauri
Santander's swoops for Abbey, Alliance & Leicester and Bradford & Bingley have seen the Spanish financial services giant rapidly become synonymous with savings - not to mention Lewis Hamilton - in the UK and a household name. Alongside the continued…
Axa to appeal Air France victim payout
It follows the decision by a Rio civil court judge for it to pay $1.16m compensation for the death of the Rio state attorney-general.
Scor outlines expected losses from first quarter quakes and windstorm
Based on preliminary estimates, The French reinsurer expects its related costs to the Chilean earthquake to amount to approximately EUR95m net pre-tax.