Europe
Glacier Re to wind down business after stategic review
European reinsurer Glacier Reinsurance, has announced that the company’s existing portfolio will be placed in to an orderly run-off with immediate effect.
Exclusive marine content now available
In Insurance Insight's latest "View from the Top" article RSA’s Richard Turner predicts what the major talking points will be at the at the International Union of Marine Insurance conference taking place in a few weeks.
View from the Top - Meeting the challenge of a new decade in marine
The International Union of Marine Insurance holds its annual conference in Zurich this September, where it will be debating the common theme of ‘Meeting the challenge of a new decade’.
EC opens antitrust investigation into insurance
The European Commission has opened formal proceedings to investigate whether certain provisions accompanying claim-sharing and joint-reinsurance agreements in the marine insurance sector might infringe European Union antitrust rules.
Motor giant VW unveils plan for regulated direct insurer
Volkswagen Financial Services AG has confirmed plans to operate its guarantee insurance business in future through its subsidiary Volkswagen Reinsurance AG as a direct (primary) insurer.
RBS to shed 640 Direct Line jobs
Royal Bank of Scotland is set to cut more than 600 Glasgow-based Direct Line staff, the BBC reports.
Ageas boosted by Asia and Belgium with €180m profit
Ageas has reported a net insurance profit of €180m for the first half of 2010, including a life contribution of €178m driven by Belgium and Asia.
Post in print - 26 August 2010
Post senior reporter Leigh Jackson outlines the main news from this week's issue of Post.
Moody’s backs insurers to manage Eurozone debt exposure
Ratings agency Moody’s has revealed that it does not expect European insurers to be weighed down by their exposure to heavily indebted Eurozone nations.
RSA signs seven figure deal with Patni
Patni has been appointed to deliver application management services to the Codan Group in Scandinavia.
Admiral reports record H1 profit as it avoids rival's claim pain
Admiral has bucked the trend of motor insurance groups by reporting that it has seen no "unusual trends in bodily injury or damage claims" as it unveiled a record half year profit.
BIS countdown - Interview - Michael Casella: Commitment to the Chubb cause
The new CEO of Chubb Europe, Michael Casella, has spent 28 years travelling the world with the firm. Now based in London, he tells Jonathan Swift why it set up a new Lloyd's syndicate and why you'll never see it dipping in and out of markets.
Holiday Extras seals Mapfre deal
Holiday Extras is planning to offer more waived conditions, natural catastrophe cover and in-house medical screening after joining forces with Spanish firm Mapfre Asistencia.
AIG repays American taxpayer another $4bn
AIG has applied nearly $4 bn received from International Lease Finance Corporation to the Federal Reserve Bank of New York Revolving Credit Facility, reducing AIG's outstanding principal balance to slightly more than $15 bn, not including accumulated…
Aon Benfield begins roll out of new online portal with US launch
Aon Benfield has launched ABConnect, a new online portal that offers clients any-time access to their account data with the aim of improving transparency.
CEA calls on industry to participate in QIS 5
The CEA has urged insurers “both large and small” to take part in the European Commission’s fifth Solvency II quantitative impact study.
Amlin H1 GWP hits £1.5bn, bolstered by 2009 acqusiition
Amlin has reported a profit before tax of £107.6m (H1 2009: £177.1m) for the first six months of 2010 on gross written premium of £1.5bn (H1 2009: £950.1m).
Hiscox profit falls to £97.2m in H1 but ready for "surge" in growth
Hiscox this morning reported a profit before tax of £97.2m for the first six months of 2010 (H1 2009: £141.4m) on gross premiums written of £904.3m (H1 2009: £906.0m).
Allianz unveils German acquisition
Allianz Real Estate Germany has acquired about 80 retail assets of the discount market Aldi Süd from Aldi Grundstücksgesellschaft gmbH & Co KG.
Exclusive Q&A content now available
In our latest Q&A session, ALC Health’s Sue Wilson says that European regulators are trying to ensure that the insurance market in general is properly regulated but as a result, many agents have closed down as they have been unable to comply with the new…
Insurance Insight Q&A – ALC Health
In the latest of our regular focus on European insurance companies and brokers, Insurance Insight talks to Sue Wilson, director for the European office of ALC Health.
Game Group renews Allianz corporate partner deal
Allianz has renewed its partnership with Game Group UK to provide insurance cover for products sold at the group’s specialist stores in the UK and Ireland for another three years.
Compre announces financial restructuring
Consulting and insurance services company Compre has undergone a financial restructure to “take advantage of investment opportunities”.
Former Marsh VP joins claims firm as complex loss boss
Munters MCS has named Simon Hurst as the UK’s major & complex loss director.