United States of America (USA)
Mapfre reports 15.5% premium growth for 2011
Spanish insurer Mapfre reported a 15.5% growth in premiums to €19,600.2m in its full year 2011 results released today.
AmWINS deal gives THB “firepower”
Frank Murphy, chief executive of THB Group, told Post that it is “business as usual” in London following the AmWINS takeover of the THB Group.
Energy business warned to learn from past losses
Energy businesses need to learn from past major loss events in order to reduce the risk of significant property damage losses, broker Marsh has warned.
Market moves: XL rings the changes
XL led the way in the recruitment space this week, as insurers made a number of key appointments. While XL added four new staff members to its ranks, Liberty Mutual, Canopius, CNA Europe and Axa also had a busy seven days. In comparison, the broking…
Chubb’s profits fall as premiums rise
US insurer Chubb has reported rising premiums but falling income in the fourth quarter, echoing a year of reduced operating and net income on 5% higher net income.
BMS opens in New York
Broker BMS has launched a new office in New York.
Reinsurance - January renewals: Toughen up
Despite the catastrophes of 2011, the predicted — and much needed — January renewal rate hardening has failed to materialise.
Spotlight on environment: Providing protection
With climate change increasing the likelihood of natural disasters, insurers must influence the debate on how businesses and governments manage risks such as supply chain failure.
Arle completes CSG sale and acquires new partner
Arle Capital Partners has sold Capital Safety Group for an enterprise value of $1.12bn (£72m) in a deal which will see former CSG chief executive Anders Pettersson join Arle as a partner.
Arab Spring: Life during wartime
Continuing civil unrest in the Middle East and North Africa presents a challenge to the property insurance market — especially concerning the limits placed by the war risks exclusion.
Chartis re-jig creates three world regions
Chartis is splitting itself into three major geographic areas: the Americas; Asia; plus Europe, Middle East and Africa.
Iran's nuclear ambition heightens risk to investors
Country economic risk and currency incontrovertibility and transfer risk remain key concerns for Iran, according to JLT’s head of credit and political risk analysis, Elizabeth Stephens.
Windsor recruits Price Forbes' binding authority team
Lloyd’s broker Windsor has today revealed further expansion of its North American division following the recruitment of a team of binding authority specialists from Price Forbes.
XL announces in-house underwriting and engineering merger
XL Group has combined its property underwriting team and global asset protection services engineers to form a unified international team of almost 200 risk engineers.
Kane reshuffles after HSBC buy
Independent captive insurer manager Kane has taken more cash from its private equity backer to open new offices and has promoted former Aon Global Insurance Management head Clive James to chief operating officer.
News analysis: Lloyd’s CEO Ward outlines diversity message with ambitious three-year plan
The start of every New Year is inevitably accompanied by the desire to deliver on resolutions made the month before — and Lloyd’s is no different.
Amlin purchases $150m worth of international cat cover
Amlin has revealed that it has acquired coverage for US hurricane, US earthquake and European windstorm perils of up to $150m (£95.7m) from Bermudian special purpose insurer, Tramline Re.
Fitch positive on Tokio Marine's Delphi swoop for enhancing overseas earnings
Fitch Ratings has said that there will be limited immediate impact on Tokio Marine & Nichido Fire Insurance, a core company in Tokio Marine Group, from Tokio Marine Holdings's proposed acquisition of Delphi Financial Group.
Aon pays fines upwards of $16m following bribery charges
Aon has responded to charges that its subsidiaries bribed international government officials by agreeing to pay more than $16m (£10.1m) in fines.
FSA slaps CICA with £2.8m fine for poor customer treatment
Combined Insurance Company of America has been fined £2.8m by the Financial Services Authority after “systematic failings” across the business were identified.
Barclays Corporate steps up NBFI push with insurance appointment
Bosses at Barclays Corporate have vowed to continue to develop the firm’s non-bank financial institutions following the appointment of new head of North American insurance Karla Maloof.
Fitch keeps ING Verzekeringen on negative watch
Fitch Ratings is keeping ING Verzekeringen NV and its subsidiaries on rating watch negative.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Interview - David Ross: Faster than the rest
David Ross is a man with a plan, pushing Arthur J Gallgaher International up the rankings with a seemingly unrivalled appetite for growth.