UK ombudsman flooded with credit insurance complaints
28 October 2013
The UK Financial Ombudsman Service has been forced to hire more staff and increase its fees to cope with a 92% increase in new cases last financial year…
International
M&A values rise in developing markets
21 October 2013
The number of mergers and acquisitions in emerging markets is steady but the sums involved are rising as insurers look to such regions for expansion, according to a Guy Carpenter research bulletin…
British regulator reports fewer insurance complaints
21 October 2013
Insurance-related complaints to the UK Financial Conduct Authority fell 15% in the first half of this year, but still accounted for the largest number of grievances reported to the regulator…
Uncertainty remains as Europe recovers
21 October 2013
Europe’s general insurers still face challenges despite an improved economic environment, according to a report from AM Best…
Florida backs Mississippi’s flood premium lawsuit
21 October 2013
The US state of Florida will file a brief supporting Mississippi’s court appeal against Federal Government increases in flood insurance rates…
UK execs make fortune on sale of ex-IAG car insurer
21 October 2013
The management group that bought UK insurer Hastings from IAG for £23.5 million ($39.39 million) has sold half the company to an arm of Goldman Sachs, in a deal that values the business…
FP Group executive steps down
21 October 2013
Charles Whiteaway, executive director of specialist marine broker FP Group, has stepped down after 20 years with the company…
Think tank warns of challenges to global capital standard
14 October 2013
Controversial plans to introduce a risk-based global insurance capital standard will face “significant challenges”, according to the Geneva Association…
GFIA warns on global standards and supervision
14 October 2013
International regulation is at a key stage in its evolution, according to the Global Federation of Insurance Associations…
British insurers shake off the gloom
14 October 2013
UK general insurers feel mildly optimistic after business volumes and premium incomes gained over the northern summer, according to a survey…
September catastrophes cost $15.89 billion
14 October 2013
Global natural catastrophes caused economic damage of $US15 billion ($15.89 billion) last month, exposing a lack of insurance, according to Aon Benfield’s latest report…
Kaufmann takes Munich Re CRO role
14 October 2013
Munich Re has appointed Bernhard Kaufmann as Group Chief Risk Officer, effective from January 1…
American P&C premiums increase
14 October 2013
US property and casualty premium rates grew slightly last month, according to insurance exchange MarketScout…
Moody’s affirms XL Group ratings
14 October 2013
Moody’s Investors Services has affirmed its A2 insurance financial strength ratings on XL Group’s insurance subsidiaries…
Property premiums could drop 12% in US: Willis
14 October 2013
Global broker Willis expects US commercial property premiums on non-catastrophe-exposed risks to fall 10-12% next year…
Alternative capital is here to stay: Lloyd’s
07 October 2013
Lloyd’s predicts more syndicates backed by alternative capital will join the market as investor demand for new revenue streams grows…
Cat bonds near record high
07 October 2013
Global catastrophe bond issuance this year may beat the $US7 billion ($7.45 billion) record set in 2007, according to Guy Carpenter…
Protests grow as US continues cutting flood subsidies
07 October 2013
The US Federal Emergency Management Agency has attracted its own protest group, as further measures to phase out National Flood Insurance Program subsidies began last week…
EU proposes two-year delay to Solvency II
07 October 2013
The European Union is considering a further delay to Solvency II, to give supervisors, insurers and reinsurers enough time to prepare for the new regulatory regime…
Economic growth to lift premiums: Swiss Re
07 October 2013
Gradual global economic growth will raise premiums over the next couple of years, as insurers’ investment returns remain subdued, according to Swiss Re…