Reinsurance
QBE appoints Bocca as UK trade credit manager
Business specialist QBE has appointed Ian Bocca to join QBE Trade Credit as manager, new business development UK, effective from 1 May.
MAS enhances Singapore's capital framework
The Monetary Authority of Singapore is to consult on enhancing the country's risk capital framework.
CII urges insurers to sign internship pledge
The Chartered Insurance Institute has launched its first good practice guide for internships in the general insurance and financial services professions.
Lloyd's says Solvency II delay will avoid applications gaps
Lloyd's has rejected claims it is struggling to prepare its Solvency II internal model submission for the Financial Services Authority, claiming there will be "no gaps in the applications" by the July submission deadline.
Vienna Insurance increases dividend after €559m record profit
Vienna Insurance Group's increased its profit by 10.1% to €559m, making 2011 the most profitable year in the group's history.
European Parliament wants EU-wide sanctions for cyber crime
Cyber attacks on IT systems will face criminal-law sanctions, according to a report by the Civil Liberties, Justice and Home Affairs Committee of the European Parliament released today.
Mapfre buys bank's stake in Mapfre America for €244m
Spnaish savings bank Banco Financiero y de Ahorros has agreed to sell its 10.36% stake in Mapfre America to the insurer's parent company for €244m.
Energy: Overcapacity causing problems as market rates stagnate
It has been a tumultuous few years for the insurance industry, and not many sectors have been affected as much as energy.
Rating agencies: The rating game
Nations and businesses alike are growing critical of rating agencies, so is a downgrade as damaging as it used to be?
Law report: Judge rules on consent order in Zenith-MIB PP dispute
This law report has been contributed by national law firm Berrymans Lace Mawer.
CCR removed from negative review after eurozone developments
State-owned Caisse Centrale de Reassurance has had its A++ financial strength rating and AA+ issuer credit rating removed from review by AM Best.
Insurers lose $116bn but play key role in disaster recovery
Despite insurers incurring the second largest losses ever at $116bn in 2011 the industry weathered 2011 well, according to the latest Swiss Re Sigma study.
EL trigger litigation: implications for mesothelioma victims
The Supreme Court has finally given clarity on the meaning of the 'trigger' words in employers' liability insurance policies. Families of former employees suffering from the hideous disease of mesothelioma now have the comfort of knowing that insurance…
EL trigger litigation: the judgment
Today the Supreme Court put an end to years of uncertainty by ruling that the insurer on risk at the time of someone's exposure to asbestos is liable to pay compensation for their mesothelioma – regardless of the particular nuances of the employers'…
Catastrophe-struck Lloyd's slumps to €619m loss
Following the second costliest year for catastrophes on record for the insurance industry, Lloyd's today announced a loss of £516m (€619m) for 2011.
Omega shareholders to reject Catalina offer
Omega shareholders could shun run-off business buyer Catalina Holdings' acquisition offer.
Allianz buys wind farms as part of renewables investment
German insurer Allianz has bought two recently completed wind farms in France from Nordex SE.
Malaysia sees improvements in corporate governance
Malaysia's quest to improve corporate governance in banks and insurance companies is seeing results, according to Malaysian news publication The Star.
Shipping sector faces new risks 100 years on from Titanic disaster
To mark the centenary of the Titanic sinking, Allianz Global Corporate and Specialty has recorded what it views as the biggest risks to the shipping industry today.
Eurozone crisis and Solvency II undermine Italian insurers' profitability
Italian insurers' growth and profitability is likely to remain subdued until the end of 2013, according to the latest report by Fitch.
Sompo Japan and Nipponkoa merge to create global P&C firm
Japanese non-life insurers Sompo Japan Insurance and Nipponkoa Insurance are to merge into a single company in the first half of the 2014 financial year.
EU foreign policy head confirms exemptions to Iran oil sanctions
Further details have emerged concerning the European Union's decision on Friday to allow some insurance for Iranian oil shipments heading for destinations outside the EU.
UK P&I club to establish UK Europe as sole direct insurance provider
The UK Protection and Indemnity Club has announced that it is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members.
Dissatisfaction could affect credit insurers' ability to recover in future
European credit insurers would be less able to rebound in a future crisis than they were in 2008/2009, according to Moody's latest insurance industry outlook.