Regulation
Stone Point swoops for Axa Re
French-based global insurer Axa has confirmed that Trident II (re)insurance venture capital fund manager Stone Point Capital has made a binding offer for its reinsurance arm, Axa Re. Should the deal go through the new company will be called Paris Re.
EC to launch public consultation into motor insurance
The European Commission has launched a public online consultation on two issues related to motor insurance – the effectiveness of claims representatives in settling claims, and insurance cover for legal expenses.
Regulation threatens broker profits, says Mazars survey
Regulation fails to benefit clients and threatens profitability, brokers have said in accountancy Mazars' 2006 survey of the industry.
Lloyd's reports £103m loss for 2005
Lloyd's this morning reported a loss of £103m for 2005 (2004: £1367m) and a deterioration in the market's combined ratio to 111.8% (2004: 96.6%).
Many unhappy returns
Comment: Product Recall
Appointment at London and European
Gilles Avenel has become chairman of London and European.Mr Avenel was appointed as a non-executive ...
FSA demands brokers make options clear
Brokers have been slammed by the Financial Services Authority for failing to make clear to customers...
Swiss Re's latest sigma study
A study has claimed that insurers' received wisdom regarding the use of the combined ratio as a meas...
Increase penalties for driving uninsured
It has long been my conviction that the odds are unfairly stacked against the law-abiding motorist. ...
FSA grills brokers on TCF
Brokers' complaints handling procedures are likely to come under greater regulatory scrutiny after t...
Willis opens new France office
Willis Group Holdings has announced that its Inspace division has been strengthened by the opening of a new office in France, Willis Aerospace Consulting.
Link and Zenith complete Rubicon acquisition
Link and Zenith, the European businesses of Caribbean financial services company, Guardian Holdings, today announced that the Group has acquired the assets of Rubicon Insurance Solutions Limited’s (RISL) Maidstone operations from the Administrator.
Apil: insurers turning legal system into 'hired guns'
Insurers are dragging the legal system back to the 'bad old days of hired guns', the Association of Personal Injury Lawyers' incoming president will warn this week.
OFT launches study into PPI
The OFT has today launched a market study to look in depth at the payment protection insurance sector. The study follows a super-complaint from Citizens Advice (CitA) to which OFT responded on 8 December 2005.
Odyssey Re admits material weakness after finite restatement
In a delayed filing of its 2005 annual report, global reinsurer Odyssey Re has admitted that it “did not maintain effective internal controls over the accounting for complex reinsurance transactions, which constitutes a material weakness”.
Swiss Re report slams combined ratio
A study has claimed that insurers' received wisdom regarding the use of the combined ratio as a measure of profitability is flawed and that it should be replaced. According to Swiss Re’s latest sigma study, over the last decade the contribution of…
Run-off market continues to grow, reports ARC
At least 23% of the reserves held in non-life business in the UK are now related to the run-off mark...
Russia run down
Country Profile: Russia
Odyssey under review after 10-K delay
AM Best has placed the financial strength rating and the issuer credit and debt ratings of the opera...
FSA lets industry off the hook on contract certainty regulation
The Financial Services Authority (FSA) will not increase its regulatory powers over the insurance in...
Larry damage moderate claims S&P
Standard & Poor's Ratings Services has said that while the impact of Cyclone Larry, which hit Far North Queensland on March 20, 2006, constitutes a major disaster for the region, it is expected to be a moderate insurance event, with insured losses at…
Bad practice broker caught
Another broker may have failed to pass premiums onto insurers, leaving customers without cover, the ...