Munich Re set to launch ILS fund
01 October 2012
Munich Re is working towards the launch of an insurance-linked securities fund to manage third-party capital due to increasing interest from a wide range of investors…
International
UK general insurance complaints grow
01 October 2012
Complaints made against UK general insurance intermediaries soared in the first half of this year, Financial Services Authority figures show…
Ace buys in Indonesia
01 October 2012
Zurich-based Ace Group has acquired an 80% interest in Indonesian general insurer PT Asuransi Jaya Proteksi…
Howorth takes JLT Asia role
01 October 2012
JLT Group has appointed Duncan Howorth as the new CEO of JLT Asia, based in Hong Kong. He replaces Warren Merritt, who has left to “pursue other opportunities”…
AIR Worldwide sets up in Singapore
01 October 2012
US catastrophe modeller AIR Worldwide has opened an office in Singapore to service the Asian insurance markets, including Australia…
India to update fundraising rules
01 October 2012
India’s Insurance Regulatory and Development Authority is tightening the rules for general insurers wanting to tap financial markets…
Marine insurance in the doldrums, conference hears
24 September 2012
The marine insurance market continues to struggle in the face of low premiums, losses and stunted cargo growth, the International Union of Marine Insurance annual conference has been told…
EU’s Solvency II start ‘may be delayed’
24 September 2012
European Union regulatory Commissioner Michel Barnier says the Solvency II insurance regulation regime may not be introduced by January 2014 as planned…
Myanmar to open for foreign insurers
24 September 2012
Myanmar is to open its insurance sector to foreign investors in the next few years…
UK’s Direct Line to float
24 September 2012
Following months of speculation, UK direct motor and home insurer Direct Line has revealed details of its initial public offering on the London Stock Exchange…
Aon wants extension to terrorism cover program
24 September 2012
The US Government should extend its Terrorism Risk Insurance Program beyond the end date of December 31 next year or face the curtailment of cover by private insurers, according to Aon Benfield…
Focus on problems, UK industry tells regulator
24 September 2012
UK insurers and brokers have pushed back against tighter supervision by their regulator…
Marsh & McLennan names new chief
24 September 2012
Brian Duperreault will stand down as president and CEO of Marsh & McLennan at the end of the year, to be replaced by current Group President and COO Daniel Glaser…
RSA calls time on UK motor business
24 September 2012
Royal & Sun Alliance has lost patience with the UK mid-market car insurance business, announcing plans to exit the sector early next year…
Insurance assets remain stable despite GFC
24 September 2012
The developing world is a major source of potential growth for insurance, according to the latest Allianz Global Wealth Report…
US Government banks AIG sale profit
17 September 2012
The US Government’s $US182 billion ($172.18 billion) rescue package of troubled insurer AIG has been repaid, plus change, in a windfall for taxpayers…
Government breaks silence on UK flood insurance
17 September 2012
The British Government is considering “a number of options” on the progress of the country’s new flood insurance program…
Focus on property catastrophe cover as reinsurance demand falters
17 September 2012
A shift to catastrophe reinsurance is making it increasingly hard for reinsurers to diversify their income streams, according to reinsurance broker Aon Benfield…
British ombudsman names insurers with most complaints
17 September 2012
UK Insurance, part of the Royal Bank of Scotland, prompted the most general insurance complaints to Britain’s Financial Ombudsman Service in the first half of this year…
Make US terrorism program permanent, III says
17 September 2012
The US Terrorism Risk Insurance Program should be made permanent or given a long-term extension, Insurance Information Institute President Robert Hartwig says…