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Overseas ambition for RSA but not at UK and Liverpool expenses
RSA Insurance Group annual profits for 2010 fell 14%, to £474m, due to increased bad weather claims totalling £250m, half relating to the UK,...
Lower profits, shares issue for Dutch insurer Aegon
Dutch insurer Aegon announced a 19 percent drop in fourth quarter net profit Thursday, and said it would issue shares worth about 900 million...
Red Crescent in Libyan aid effort overstretched
The Red Crescent, which is the only humanitarian aid organisation currently on the ground in Libya, is already overstretched and facing a severe shortage...
Insurer Allianz sees ops profit of 8 bln euros this year
German insurance giant Allianz said Thursday that it foresees an operating profit of eight billion euros ($11 billion) this year, give or take half...
IAG revises FY11 guidance following Christchurch earthquake
IAG said that its New Zealand businesses, which include State and NZI, were rapidly mobilising in response to the destructive 6.3 magnitude earthquake that...
RMS Commentary on the New Zealand Earthquake
Highlights :
- Though a smaller magnitude than the M7.1 Darfield earthquake on September 3, 2010, Christchurch city was significantly closer to the epicentre, and...
New Flexible Benefits Platform Launches for SMEs
Jelf Employee Benefits has unveiled a new ‘flex’ platform to help small- and medium-sized enterprises (SMEs) improve the way in which they communicate their...
UK: Aviva’s total reward statements go live
Aviva is making it easier for people to understand the value of benefits provided by their employer.
Total Reward Statements will be offered alongside group...
Insurance forecast : European insurers should be cautious according to Moody’s
In a report published by Moody’s Investors Services, European insurance companies must be cautious concerning new regulations and macro-economic tendencies.
Their focus should...
Aon Hewitt Ranks First in Four Major Categories
Aon Hewitt announced that it ranked first in four major categories including "Total Defined Benefit Plans" and "Total Defined Benefit Participants," in Plansponsor’s 2010...
Former Spanish client files for pre-insolvency protection
Aegis Group notes that one of its former Spanish clients, Nueva Rumasa, and certain affiliated companies have filed for pre-insolvency protection under section 5.3...
Seven percent rise in revenue from premiums for Groupama Garancia
Hungarian insurer Groupama Garancia Biztosito had revenue from premiums of €338 million in 2010, up 6.9% from the previous year, the company told MTI.
Revenue...
ZFS to buy $1.67 bn stake in Santander Latin America unit
Swiss insurer Zurich Financial Services said Tuesday it had reached a $1.67 billion deal with Banco Santander to buy 51 percent of the Spanish...
RBS faces criticism from rivals
The state-backed lender has written to insurance brokers promising to lower the premiums commercial customers pay by 5pc and increase the commission intermediaries receive...
Quinn Group renews efforts for buyout of Quinn Insurance
The Quinn Group is expected to renew its efforts to be involved in the buyout of Quinn Insurance, after it was confirmed that no...
Plum growth underlines broker demand for non-standard solutions
Non-standard household insurance specialist Plum Underwriting has seen sales increase by 54% and has more than doubled its agency base since announcing aggressive growth...
Aon Benfield lobbies for simplified model approval process for Solvency II
Aon Benfield is calling for a simplified Internal Model Approval Process (IMAP) for natural catastrophe risk that would encourage insurers to better quantify these...
Swiss Re obtains USD 305 million in natural catastrophe protection
Swiss Re has obtained another USD 305 million in protection through the Successor X Ltd. catastrophe bond programme, covering North Atlantic hurricane and California...
AXA UK reorganised to create a focused platform for growth
Highlights :
- Strategic review of AXA UK activities completed in 2010. AXA UK & Ireland has further embedded its multi-specialist model with the creation...
SCOR is selling its subsidiary Investors Insurance Corporation
SCOR is disposing of its US Fixed Annuity business through the sale of its subsidiary Investors Insurance Corporation (IIC) for USD 55 million. SCOR...
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