ICA joins global federation
15 October 2012
International trade bodies including the Insurance Council of Australia have joined forces to create the Global Federation of Insurance Associations…
International
Americans criticise ComFrame ‘confusion’
15 October 2012
The American Insurance Association fears the ComFrame working draft is being interpreted as a new layer of prudential supervision…
Islands attract more insurance-linked securities deals
15 October 2012
Bermuda is becoming a centre of the global insurance-linked securities and special purpose insurer (SPI) business, according to the local regulator…
RBS sells insurance unit
15 October 2012
The Royal Bank of Scotland has raised £787 million ($1.2 billion) from the initial public offering of its insurance unit Direct Line, according to reports…
AIA takes ING’s Malaysian arm for $1.64 billion
15 October 2012
AIA Group has bought ING’s Malaysian life business for $US1.73 billion ($1.64 billion)…
China’s insurance market in transition, says AM Best
15 October 2012
Ratings agency AM Best says the Chinese insurance market is in a “state of transition”…
Regulator demands workable Solvency II timetable
15 October 2012
The European insurance regulator has called for a “clear and credible” timetable for implementing the Solvency II rules…
Aon launches risk-pooling practice
15 October 2012
Aon Risk Solutions has formed a risk-pooling practice to provide comprehensive property, casualty and employee benefits products for organisations involved in group purchasing…
UK regulatory chief admits failures
15 October 2012
UK Financial Services Authority Chairman Adair Turner has admitted numerous regulatory shortcomings in the organisation and praised the “twin peaks” model to be introduced next year…
Global rates firm in Q3, says Marsh
08 October 2012
Global insurance prices continued to rise in the third quarter of this year, according to the Marsh Risk Management Global Insurance Index…
Insurers recover from recent catastrophes, say regulators
08 October 2012
The worldwide insurance industry has been resilient in the face of the global financial crisis and last year’s catastrophes, according to the International Association of Insurance Supervisors…
Floods take toll in Asia and Europe
08 October 2012
Floods have become “one of the costliest perils across the globe”, according to Aon Benfield’s Global Catastrophe Recap for last month…
UK watchdog cracks down on car insurers
08 October 2012
Regulators are investigating the UK car insurance market amid concerns it is “not working well for motorists”…
Cunningham Lindsey gets new owner
08 October 2012
An investor group led by private equity firm CVC Capital Partners has taken a majority stake in global loss adjuster Cunningham Lindsey…
US insurers’ income jumps after fewer catastrophes
08 October 2012
US property/casualty insurers’ net income more than tripled to $US16.4 billion ($16 billion) in the first half of this year, as natural catastrophes eased…
Munich Re wants China quake support
08 October 2012
Munich Re has called on China to set up a catastrophe protection body similar to New Zealand’s Earthquake Commission…
American rates maintain growth
08 October 2012
US property and casualty rates rose 5% last month, the same as in August, according to information exchange MarketScout…
Munich Re, Ironshore ratings hold, Genworth doubtful
08 October 2012
Moody’s Investors Services has backed the financial strength of Munich Re and affirmed an Aa3 rating for the overall group, its US non-life reinsurance subsidiary and its German life subsidiaries…
Mega-earthquakes trigger smaller tremors globally
01 October 2012
Large earthquakes can trigger smaller ones globally for up to a week, according to US research that could prompt changes in catastrophe modelling…
No skirting gender pricing: ABI
01 October 2012
A European Union sexual discrimination ruling will see premium pricing change in the UK by the end of the year, according to the Association of British Insurers…