Europe
Outgoing AIG chair: It is easier to replace me than CEO Benmosche
Harvey Golub has resigned as chairman of the AIG board after it emerged that he had had a difficult working relationship with CEO Bob Benmosche.
Axa GI FD takes new role
Axa UK has appointed Jean Drouffe as group finance and risk director as Ian Robinson, the incumbent director, takes up the role of global head of internal audit, at Axa Group, Paris
Willis, Munich Re and Allianz seal European windstorm deal
Perils AG, the Zurich-based company providing industry-wide European catastrophe insurance data, today announced that in the first six months of 2010 the total placements of insurance risk transactions based on Perils industry loss index exceeded $250m.
Singapore insurance market poses threat to London warns Marsh
The London market needs to think about how it is responding to the expanding Singapore market if it is going to be competitive with rates.
EC proposals 'unnecessary'
CMS Cameron McKenna has responded to the European Commission's proposals for insurance guarantee schemes that could lead to the break-up of the the Financial Services Compensation Scheme.
Irish public liability claims hit €33m
The total value of public liability awards made by the Irish Injuries Board in 2009 was €33m.
Sun Gard unveils new Solvency II technology
Technology firm Sun Gard has created a new enterprise risk management framework to support insurer’s Solvency II compliance initiatives.
Moody's cuts Portugal rating
Moody's Investor Service has cut Portugal's debt rating two notches to A1 citing rising debt and weak growth prospects, and said the country may need to come up with more austerity measures in its 2011 budget.
CEA concerned over EC insurance insolvency guarantee scheme
The CEA, the European insurance and reinsurance federation, has thrown its support behind the objective of protecting insurance policyholders and beneficiaries that underlies the package of measures the European Commission published yesterday.
Aon in $4.9bn swoop for outsourcing firm
Aon has agreed a deal to acquire HR consulting and outsourcing company Hewitt Associates for $4.9bn, consisting of 50% cash and 50% Aon stock.
XL looks to grow cyber liability account with JLT hire
XL Insurance has recruited Dawn Simmons as senior underwriter, professional lines for cyber and technology risks, based in Paris.
QBE names Europe boss
QBE has promoted Petko Tonchev to general manager for Central and Eastern Europe.
Insurance Insight’s weekly update now live
This latest initiative from the team behind the UK's market-leading general insurance weekly Post is dedicated to the European general insurance market and we will be providing news, analysis, comment and features focused on different territories.
Italian insurance premiums to rise 5% in 2010
Italian insurance premiums are expected to rise 5.5 % in 2010 and include a recovery in non-life insurance which suffered most in the recession, according to country's trade association the ANIA.
Insurance Insight – Business continuity management
Recent events across Europe this year have highlighted that as traditional business interruption policies often only trigger after first-party physical damage has occurred the need for good business continuity management is acute. Hugh Morris examines…
Law replaces Dilks as PwC insurance boss
PricewaterhouseCoopers has appointed David Law as its new global insurance leader.
PwC responds to Ceiops Solvency II report claims
Advisory firm PricewaterhouseCoopers has called on insurers to maintain open dialogue with regulators following the Committee of European Insurance and Occupational Pensions Supervisors report on the preparedness of insurance supervisors for Solvency II.
Ceiops: Supervisors must update methods to meet Solvency II demands
The Committee of European Insurance and Occupational Pensions Supervisors has urged its members to make further changes to their supervision methods, tools and procedures to meet the demands of Solvency II.
FSA bans insurance trio for fraud act
The Financial Services Authority has today banned Timothy Higgins, Clifford Felstead and Ralph Brunswick from working in regulated financial services.
APC product hits Irish market
APC has begun writing business in the Republic of Ireland with the launch of its first product, which is aimed at shopkeepers.
Post in print – 8 July 2010
Post deputy editor Lynn Rouse summarises the major news headlines from tomorrow’s issue of Post.
Chaucer agrees Norwegian deal
Chaucer has formed a new energy partnership with Scand Ins - the Scandinavian Insurance Management Company.
Commission has listened to industry concerns
Tamsin Abbey, life insurance partner at Deloitte comments on the final QIS5 specification released by the European Commission yesterday.
Lloyd's credit rating affirmed by AM Best
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China).