Europe
Swiss Re almost doubles Q3 profit and terminates Berkshire Hathaway loan
Swiss Re reported third-quarter net income of $618m, compared to $314m in the prior-year period.
Zurich reports 22% decrease in GI profit in 2010 Q3 results
Zurich this morning reported a business operating profit within general insurance of £2bn, a reduction of 22%.
RSA expects year end UK NWP to be up 10% after Q3 results
RSA this morning reported net written premiums for the nine months to 30 September 2010 of £5.531bn, an increase of 10% (7% at constant exchange) compared with the same period in 2009.
Amlin Corporate Insurance rating upgraded by Fitch
Fitch Ratings has upgraded Amlin Corporate Insurance Insurer Financial Strength (IFS) rating to 'A' from 'A-'. The Outlook is Positive.
FSA delays Remuneration Code publication
The Financial Services Authority has delayed the publication of its final rules on the Remuneration Code until December.
Aviva raids Zurich for new CIO
Aviva has appointed François Xavier Quilici as chief information technology officer for Aviva France, as well as core IT applications director for Aviva Europe.
Post in print - 4 November 2010
Reporter Amy Ellis outlines the main news from this week's issue of Post.
LMA hails Lloyd's success
The chairman of the Lloyd’s Market Association Barnabas Hurst-Bannister has told the Association of Lloyd’s Brokers in Chicago that the Lloyd’s market is now “ahead” of its competitors when it comes to its approach to process modernisation.
Am Best revises Hannover Re rating
AM Best Europe has revised the outlook to positive from stable for the ratings of Hannover Re and its related debt issues and rated subsidiaries.
XL CEO announces $1bn share buyback as it reports Q3 figures
XL has reported its property and casualty operations recorded a combined ratio of 94.9% in the third quarter of 2010, bolstered by reserve releases.
Antur purchases Welsh broker
Welsh broker Antur Insurance has acquired Barry-based broker DW Burrrows after forming an associate partnership with the intermediary last year.
Marsh adds Willis director to international division
Cath Whitaker has been appointed to a new senior market relationship role at Marsh, joining from rival Willis, where she was acting managing director of its strategic carrier relationships.
Aviva Q3 UK GI premiums exceed £1bn as its tops 1m direct motor customers
Aviva this morning said that general insurance net written premiums were up 12% at £1.05bn when compared to the same quarter last year (3Q09: £937m).
Aviva CEO Andrew Moss defends composite model - again
The chief executive of Aviva has again reiterated its support for its composite model approach as the insurer published its nine month results.
Coface extends Irish team with two appointments
Coface UK & Ireland has appointed Roslyn Keogh as commercial manager and Ellen Malone as account executive.
Mapfre swoops for Insure & Go
Travel insurance specialist intermediary Insure & Go has been acquired by its underwriter Mapfre.
Chubb appoints claims chief
Chubb has named Lynn George as its new European claims manager.
Aon blames "economic conditions" for 11% drop in UK revenue in Q3 2010
Aon has reported that its UK broking business recorded a 11% drop in commission and fees in the third quarter of 2010 to $148m (£92.7m) (Q3 2009: $167m) with an 8% downturn in organic revenue.
Exclusive content now available
Insurance Insight’s weekly update is now live with a look at anticompetitive practices in the Ukraine insurance market, as well as a View from the Top opinion on how Spanish SMEs are waking up to the need for D&O cover.
Anticompetitive practices in Ukraine
Insurance companies in Ukraine generate 40% of their profits through bank products, leaving many at the mercy of the banks restrictive accreditation procedures. Oleksander Dyakulych and Mykhailo Pergamenshchyk report on how an investigation by the…
View from the Top: The impact of the financial crisis on the Spanish D&O insurance sector
The financial crisis and the resulting economic complications in Spain have caused a sharp increase in the number of directors’ and officers’ liability insurance policies taken out.
Axa unveils Chinese tie-up
Axa, Industrial and Commercial Bank of China and China Minmetals Corporation have reached agreement on the equity transfer of Axa-Minmetals Assurance Co.
Allianz: by 2020 a fifth of our customers will be on "very low income"
By 2020 a fifth of the people insured by Allianz will come from a very low income.
Ace CEO Greenberg ups full year forecast after "positive" progress in 2010
Ace Insurance Group has reported $14.9bn gross written premium for the nine months ended 30 September 2010 compared with $14.7bn last year.