Europe
Axis buys aviation specialist Aviabel
Bermuda-headquartered specialty (re)insurer Axis has reached an agreement to buy Brussels and Amsterdam based (re)insurer Aviabel.
Irish regulator boosts staffing levels ahead of predicted post-Brexit insurer exodus
The Central Bank of Ireland, which acts as the country’s insurance regulator, has increased staff levels by over 25% ahead of an expected influx of UK insurers post-Brexit.
Perils revises August Italy earthquake property losses
Insurance catastrophe market data firm Perils has increased its estimate of property insurance losses for the 24 August Central Italy earthquake.
Europe: Data analytics could relieve whiplash pains
The whiplash reforms intended to reduce fraudulent claims in the UK may cap or scrap cash compensation for minor injuries. What effect will this have for claimants and insurers? A European comparison can provide greater insight.
Generali to sell off €1bn of assets by 2018
Italy's biggest insurer Generali is looking to leave unattractive markets in a bid to generate €1bn, the firm announced ahead of an investor day meeting this morning.
CEO Davies leaves Sompo Canopius
Stuart Davies is stepping down from his role as group CEO at global specialty (re)insurer Sompo Canopius with immediate effect.
Global tourism boom to spur purchasing of travel policies
Total travel insurance premiums are expected to grow 8.5% a year between 2016 and 2022 according to data from global firm Allied Market Research.
Gable policies will expire in a month, FCA warns
Policies with Gable will automatically be cancelled in less than a month’s time, the Financial Conduct Authority has warned.
FSCS declares Gable in default
Gable has been declared in default by the Financial Services Compensation Scheme.
AIG to move European HQ out of London following Brexit vote
AIG could move its European headquarters from London to an EU country, following the referendum result.
VIG sees 88.4% rise in Q3 profits
Vienna Insurance Group has seen an 88.4% rise in pre-tax profits in the third quarter of the year.
Gable turns on administrator over ‘illegal’ shareholder meeting
Gable said it was “illegally” denied voting rights at a shareholders meeting, in which a petition to wind up the company was passed.
Hiscox appoints Justin Bowen as Europe chief underwriting officer
Hiscox has appointed Justin Bowen as chief underwriting officer for its European operations.
Scandinavian Gable policyholders not protected by government schemes
Scandinavian policyholders will not be protected by government guarantee schemes if Gable is declared bankrupt.
Gable needs £58.7m capital injection
Gable needs to provide £58.7m in order to meet its Solvency II requirements, according to its administrator.
Zurich's Q3 global profits bounce back to $1.2bn
Global insurer Zurich registered 2016 third quarter operating profits of $1.2bn compared with $256m in Q3 2015.
Data protection: The cost of hacks set to climb
The hefty fine levied against Talk Talk for failing to protect its customers' data will pale in comparison to the maximum penalty regulators will be able to hand out in less than two years.
Munich Re's Q3 profits rise 31%
Reinsurance giant Munich Re has seen its profits climb 31% in the third quarter of 2016 compared with the same period last year.
Enterprise issued thousands of policies without authorisation
Enterprise Insurance wrote 10,000 UK roadside assistance policies in the UK without authorisation.
RSA on track to meet 2016 profit expectations
UK-headquartered insurer RSA saw overall net premiums rise 6% on an underlying basis in the first nine months of 2016 compared with the same period last year.
AIG reports £500m exposure for accident victims
In its third quarter 2016 results global insurer AIG has been impacted by rising payouts to accident victims for US policies written prior to 2010.
All aboard the Brexit rollercoaster
There is a touching stubborn optimism in the insurance industry about where the Brexit negotiations might lead, although it is rather like one of those fixed smiles that it gradually becomes harder to sustain with any degree of conviction.
Gable needs further capital to stave off insolvency, administrator warns
The administrator responsible for Gable has requested a further capital injection in order for the company to remain solvent.
Telematics growth likely to be slow in Germany
The growth of telematics car insurance policies is likely to be slow in Germany because of limited interest from both insurers and customers, in contrast to the UK’s growing market.