Property
Ace reports strong profits increase
Ace, the Switzerland-based (re)insurer, said that fourth quarter and yearly pretax profits grew.
MMC makes another US purchase
Marsh's US mid-market subsidiary Marsh & McLennan Agency said it has bought US broker Haake Companies for an undisclosed sum.
Obama aims to eliminate terrorism subsidy for insurers
Barack Obama has proposed eliminating insurers' terrorism subsidy in his 2011 Budget.
Environment Agency backs new flood test centre
Simulator aims to recreate the devastating effects of a flood to test products designed to defend homes, businesses and people.
Munich Re's profits jump in 2009
Munich Re has reported that its profits rose to €2.56bn in 2009 from €1.58bn in 2008. The Germany-based reinsurance giant's fourth quarter profit also grew substantially, jumping to €0.78bn from €0.11bn in the fourth quarter of 2008.
Neste Oil to receive EUR 47.5m from reinsurers
Finnish oil refining company Neste Oil has announced that it will receive 47.5m euros from a syndicate of reinsurers following a fire at a refinery in April 2008
Paymentshield to match competitors
Paymentshield has launched a new price match facility on its Best Quote Buildings & Contents Insurance site.
Allianz household range goes live
Allianz Retail’s broker household product range, Allianz Clear, will be launched to over 500 Insurecom software users this month, forming the next stage of the range’s roll-out to Allianz Retail’s broker network.
Insurers given access to escape of water and accidental/malicious damage models
Experian has launched three new Perils models, providing insurance companies with greater insight into a household's level of exposure to escape of water, malicious damage and accidental damage.
Swiss GI premiums up 0.7% in 2009
SIA added it is striving for the "recognition of the equality of supervision between the EU and Switzerland" with regards Solvency II
Chubb launches new broker site
Chubb Insurance has launched its new broker website, Masterpiece24, which allows brokers to quote and bind high net worth cover online.
Bright Star wins contract
Corporate risk broker Brightstar Risk Solutions has been appointed to take on scheme development for the Southern half of the UK on behalf of Fleurets.
Household premiums rise 5.9%
AA Insurance said increase relfected rising cost in repairing buildings and claims frequency.
QBE to moderate 2010 growth plan
The managing director of QBE's property division has admittted it will "cut back its ambitions" for immediate growth as a result of the benign rating environment but that the end game is still to have a 10% market share by 2015.
Partner Re 'pleased' with 1/1 renewals
PartnerRe, the Bermudian (re)insurer, said that it is 'pleased' with the performance of its treaty books during the Jan 1 renewals.
California mudslide could cost nearly $5bn
The mudslide that is threatening homes in Southern California could cost homeowners nearly $5bn, First American Core Logic has said.
Don't expect Berkshire Hathaway and Munich Re to merge says Wall Street
Berkshire Hathaway's announcement that they had upped their shareholding in Munich Re won't lead to a takeover of the German reinsurance giant, analysts have said.
Towergate Underwriting promotes duo in personal and commercial lines
Towergate has made two senior appointments within its underwriting division.
RLI net earnings rise 19%
RLI, the US specialty insurer, said its full-year earnings jumped 19% to $93.8m from $78.6m this time last year.
New pricing and planning manager takes over at Groupama
Glyn Hughes has been appointed as personal lines pricing and planning manager at the insurer.
Fortis issues advice following cold snap
Fortis has urged homeowners to ensure that they are ready for the problems caused by the thaw following the recent cold weather.
Storms hammer Los Angeles
Southern California has been hit by a stream of storms, Reuters reports.
Thamesbank signs IT deal with Open GI
Thamesbank Insurance has signed a five-year deal with Open GI, which could see the broker double its IT capacity.
Markel boost retail division with two hires
Markel has appointed John Parkinson and Rupert Joce to its retail division as business operations manager and senior technical underwriter respectively.