Europe
Allianz CEO "pessimistic" about commercial premium outlook
Allianz has reported gross written premiums up 4.1% in the third quarter of 2010 compared to the same period a year before.
Groupama joins forces with Chinese industrial group for new joint venture
Mr Jean Azéma, CEO of Groupama and Mr Gu Huizhong, vice president and CFO of AVIC Group Aviation Industry Corporation of China Group, have signed a memorandum of understanding in order to finalise an agreement to create a joint venture by 31 December…
"Murky" bond environment restricts Allianz result
Allianz’s strong headline third quarter earnings were overshadowed by yet another quarter of explaining one-off expenses, according to equity research firm Jefferies.
Aegon "on track" with plans for reinsurance arm, claims CEO
Dutch insurance giant Aegon this morning reported that underlying earnings before tax increased by 21% year-on-year to €473 m in the third quarter of 2010.
AM Best affirms Hiscox 'A' rating
AM Best has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of “a” of Hiscox Insurance Company (Bermuda), Hiscox Insurance Company and Hiscox Insurance (Guernsey), all operating companies of Hiscox Ltd …
Aviva pays £104m for minority stake in insurer
Aviva has exercised its option to buy out the stakes held by the minority shareholders of Société d’Epargne Viagère, a French life insurance company in which Aviva already has an 83.7% equity stake.
Hannover Re CEO raises profit forecast in Q3 results
Hannover Re this morning said gross written premium in total business grew by an appreciable 11.5% as at 30 September 2010 to reach Euro 8.6bn.
Novae acclaims move to short tail classes in Q3 results
Lloyd's insurance group Novae has reported gross written premium for the first nine months of 2010 to £473.3m, up 54% (Q3 2009: £308.2m).
Allianz UK GI profit halves to £42m in Q3 2010
Allianz this morning reported that in the UK gross premiums were up at €463 m (£400 m) in the third quarter of 2010 (Q3 2009: €427 m).
MMC reports Risk and Insurance Services operating income up 12% in Q3 to $142m
Marsh & McLennan Companies' risk and insurance services segment revenue in the third quarter of 2010 was $1.3 bn, an increase of 8 percent from the third quarter of 2009.
Aon voices concerns over business interruption coverage
Delegates at the recent Aon Risk Symposium held in Madrid heard that Aon Corporation has seen increased demand and enquiries for business interruption insurance, yet a decreasing appetite of insurers to pay claims for the cover.
Gable CEO confident it will meet market expectations
Gable Holdings this morning described the first half of the year as a period of consolidation and business growth.
Munich Re raises year end profit forecast by €400m
Munich Re is now predicting a higher consolidated result for 2010 than previously expected: following a profit of €1.955 bn for the first nine months of 2010 (same period last year: €1.784 bn).
Norwegian P&I Club gets Lloyd's green light for new syndicate
R&Q Managing Agency has announced that it has received approval from Lloyd’s to form a new syndicate on behalf of Assuranceforeningen Skuld, the Oslo headquartered P&I Club.
Lloyd's: space weather could set society back 100 years
Lloyd's today warned the threat of 'space weather' from next year could set society back at least 100 years.
Hiscox readies first US direct commercial play after it breaks £100m barrier in Q3
Hiscox this morning reported that its gross written premiums year on year for the nine months to 30 September remain broadly level at £1.21bn (2009: £1.21bn).
Insurance Insight November: Exclusive online content now live
Insurance Insight November is now live with a review of the Polish general insurance market, and a close look at changes to supervisory authorities due to be enforced next year in the EU, as well as our regular View From the Top slot this month on…
Insurance Insight country review: Poland, the calm in the storm
The Polish insurance market is no longer seen as an emerging one and as Edward Murray explains its strength through recession has meant that it is now a target for players from the rest of Europe.
Ceiops is dead, long live Eiopa!
Existing committees of EU supervisors for the European insurance sector are being transformed from 1 January 2011 into supervisory authorities with firm powers. Vic Wyman assesses what the impact of this regulatory change will be.
View from the Top: Environmental insurance comes of age
Environmental insurance, once labeled as difficult to obtain, data intensive and expensive, has come of age. With a 15-year history in the UK and Europe, and 30 in the US, the environmental market has developed and has the strength and maturity to…
MYI wins marine terminal contract
Loss adjuster MYI has been appointed as nominated claims handler for DP World.
Aviva raids Allianz and GE Capital to bolster exec
Aviva has unveiled Helen Heslop as chief financial officer and Patrick Dixneuf as chief operations officer for Aviva Europe with effect from 1 January 2011.
Haslip returns to Aon Benfield risk strategy team
Aon Benfield has appointed Gareth Haslip as head of the risk and capital strategy team for the UK & Europe, the Middle East and Africa.
Scor heralds "strong technical result" in third quarter 2010
Scor has recorded net income of Euro 111m, up 18.2% compared to the third quarter 2009 (Euro 94m).