Insight and Intelligence on the London & International Insurance Markets

17 January 2017

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Biba calls for UK to retain single market access

16 January 2017

Trade representative body the British Insurance Brokers' Association (Biba) has urged the UK government to negotiate continued access to the EU single market post-Brexit on either a total or sectoral basisRead more


Gable and Enterprise failures lead to extra FSCS levy

16 January 2017

The UK Financial Services Compensation Scheme (FSCS) has announced a supplementary levy for general insurers of £63mn ($83mn) to compensate the policyholders of failed insurers Enterprise and Gable InsuranceRead more


US-EU talks yield covered agreement for insurers

13 January 2017

US and European negotiators have reached a covered agreement to harmonise regulation of insurers and reinsurers and remove barriers to transatlantic businessRead more


TheCityUK sets out Brexit priorities

12 January 2017

A City of London lobby group appears to have recalibrated its Brexit negotiating position after it today called for a "bespoke deal" for the UK financial services sectorRead more


Chinese premium growth accelerates in 2016

12 January 2017

Chinese insurers recorded premium income of 3.1tn yuan ($448.6bn) in 2016, up by nearly a third on the previous year, according to the China Insurance Regulatory Commission (CIRC)Read more


PICC vice chairman ‘in custody’: report

12 January 2017

A vice chairman of the People's Insurance Company of China (PICC) has been taken into custody by authorities for unknown reasons, Caixin reportedRead more


UK motor changes to spark 12% price hike

11 January 2017

Forthcoming regulatory changes and claims inflation in the UK motor market will cause price increases of about 12 percent in 2017, according to Bernstein analyst Thomas SeidlRead more


CIRC introduces property rate guidelines

11 January 2017

The China Insurance Regulatory Commission (CIRC) has issued new guidelines on property insurance premiums designed to ensure rates are "reasonable, fair and adequate"Read more


(Re)insurers to count cost of rising inflation

10 January 2017

After years of lacklustre price growth, accelerating inflation, particularly in the US and the UK, has re-emerged on the insurance radarRead more


Reinsurance capital growth returned in 2016: Aon Benfield

6 January 2017

Reinsurance capital increased by 5.3 percent to $595bn through the first nine months of 2016 in a turnaround from the 2 percent decline recorded for the full-year 2015, according to an Aon Benfield report following the 1 January renewalsRead more


Indian brokers oppose right of refusal rules

6 January 2017

Indian (re)insurance brokers have called for the abolition of right of first refusal rules for reinsurance business in the country, claiming the proposed regulations are anti-competitiveRead more


CIRC sets compliance standards

5 January 2017

The China Insurance Regulatory Commission (CIRC) has introduced a set of new compliance regulations as part of its push to improve governance in the industryRead more


Industry bodies eye New York’s revised cyber proposals

3 January 2017

New York regulators have made some key changes to proposed rules aimed at protecting client information held by insurers, but industry groups remain cautious about the new regulations and how they may affect companies once implementedRead more


Munich Re confirms Mumbai office

3 January 2017

Munich Re today confirmed it had received final approval from the Insurance Regulatory and Development Authority of India (Irdai) to establish a branch in the countryRead more


CIRC tightens insurer ownership regulations

29 December 2016

The China Insurance Regulatory Commission (CIRC) has tightened rules governing ownership of insurance companies and lowered the maximum ownership threshold for any single entity from 51 percent to one thirdRead more


Munich Re, Swiss Re gain India go-ahead

29 December 2016

Munich Re and Swiss Re have received clearance from the Insurance Regulatory and Development Authority of India (Irdai) to establish a branch in the countryRead more


New York softens proposed cyber security rules

28 December 2016

New York regulators have today released a toned-down version of a nation-leading set of rules aimed at protecting the private information of insurance customers that incorporate many of the changes sought by the P&C industryRead more


Hannover Re and Scor get India approval for January

28 December 2016

Hannover Re and Scor have both received final approval to set up branch offices in India, the companies said in separate announcementsRead more


China curbs insurers’ expansion tactics

21 December 2016

Chinese insurers face restrictions on their investment activities at home and overseas following scattergun stock purchases, hostile domestic takeover bids and capital outflows that have weighed on the yuanRead more


AM Best downgrades Istmo Re after regulator warning

15 December 2016

Credit rating agency AM Best has slashed the financial strength ratings of Istmo Re to E after the local regulator swooped on the Panamanian reinsurerRead more


Brokers may pay extra FSCS levy for using unrated carriers

14 December 2016

The UK Financial Conduct Authority (FCA) is considering placing an additional levy on brokers that place business with unrated carriersRead more


RAA calls for covered agreement conclusion

14 December 2016

The Reinsurance Association of America (RAA) has urged the European Union (EU) and US to finalise a covered agreement for prudential (re)insurance supervision, as talks on regulatory equivalency rumble onRead more


CIRC plans investment clampdown

14 December 2016

The China Insurance Regulatory Commission (CIRC) has outlined plans for greater intervention in insurers' investment activities, and will monitor newcomers to the sector more closely, Caixin reportedRead more


Lloyd’s to cut fees by 10% in 2017

13 December 2016

Lloyd's will reduce its market subscriptions by 10 percent for 2017 as part of efforts to remain competitiveRead more


London (re)insurers urged to engage with ILS proposals

6 December 2016

UK Economic Secretary to the Treasury Simon Kirby has called upon the insurance industry to engage thoroughly with the consultation on the draft regulations for London's insurance-linked securities (ILS) hubRead more


LMG sets up online portal for premium processing

1 December 2016

The London Market Group (LMG) has launched an online portal for electronic premium submission as part of the Target Operating Model (Tom) programme, it announced todayRead more


Florida workers' comp rate hike set to kick in after all

30 November 2016

A 14.5 percent hike in workers' compensation insurance rates in Florida will take effect tomorrow as scheduled, after a state agency filed a formal notice of its plan to appeal a court ruling last week that stayed the increaseRead more


Irdai creates panel for reinsurance cession guidelines

25 November 2016

The Insurance Regulatory and Development Authority of India (Irdai) has set up a committee to create guidelines on the procedures for reinsurance cessionsRead more


CIRC draws up offshore collateral regulations

25 November 2016

The China Insurance Regulatory Commission (CIRC) has drafted new regulations regarding offshore reinsurer collateral requirements, following concerns about credit risk for Chinese insurersRead more


Lloyd’s to finalise Brexit plan in Q1

24 November 2016

The Lloyd's executive team will present its Brexit contingency plans to the Franchise Board and Council in December for approval, with the final plan to be made public in the first quarter of 2017Read more


UK government publishes draft ILS regulations

23 November 2016

The UK government today published draft regulations for a new regulatory and tax framework for insurance-linked securities (ILS), the final version of which will be brought before parliament in spring 2017Read more


ABI identifies post-Brexit priority markets

21 November 2016

The Association of British Insurers (ABI) has identified eight countries as priority markets for the industry to target if it is to get the most out of new international trade dealsRead more


PwC applies for Gable winding up order

17 November 2016

PwC Switzerland, the special administrator of beleaguered Liechtenstein carrier Gable Insurance (GIAG), has filed an application to the courts seeking a winding up order for the companyRead more


PRA warns on ‘silent’ cyber-risk shortcomings

15 November 2016

The UK Prudential Regulation Authority (PRA) has raised concerns over "material shortcomings" in the way that underwriters manage so-called "silent" cyber risksRead more


Autumn Statement to feature next steps for ILS framework

15 November 2016

The UK chancellor's Autumn Statement will provide further detail on the provision of the taxation and structural positions to make London an insurance-linked securities (ILS) hub, The Insurance Insider understandsRead more


Regulation will prevent Silicon Valley takeover

15 November 2016

Swiss Re chief economist Kurt Karl has said Silicon Valley firms are likely form partnerships with insurance companies rather than entering the industry themselves due to the prohibitive regulation in the sectorRead more


Trump softens stance on Dodd Frank and Obamacare repeal

15 November 2016

US president-elect Donald Trump remains an unknown in so many ways that divining what his presidency may mean in specific policy areas can be a frustrating exercise at bestRead more


Republicans’ US tax reform may impact insurers

15 November 2016

Tax reform may take centre stage in the first months of a Donald Trump presidency, as Republican leaders in Congress exploit their party's new executive power by meshing existing legislative proposals with the New York billionaire's oft-stated desire to cut corporate taxes and eliminate loopholesRead more


Gable owner barred from insolvency proceedings

14 November 2016

Gable Holdings has been prohibited from attending a shareholder meeting called by special administrator PwC on behalf of Gable InsuranceRead more


UK government appeals to China over ILS opportunities

11 November 2016

The UK government has appealed to Chinese delegates from the financial services industry to consider London as the home for future Chinese cat bondsRead more


Waiting on change will doom London: Khoury-Haq

10 November 2016

Failure to embrace the Target Operating Model (Tom) could leave the London market vulnerable to "stagnation and failure", Lloyd's director of operations Shirine Khoury-Haq has claimedRead more


Market needs transitional Brexit arrangements: LMG

10 November 2016

The London Market Group (LMG) is lobbying against a "hard Brexit" for the insurance industry as the UK government enters negotiations with the EU, Malcolm Newman, CEO of Scor's Paris-London hub, has saidRead more


Lloyd’s issues statement emphasising support for PPL

9 November 2016

The Corporation of Lloyd's has issued a declaration of support for the Placing Platform Limited (PPL)Read more


Scor to start writing Indian business in April

9 November 2016

Scor expects to start writing onshore business in India as of 1 April 2017 after it received second-round branch approval from the Insurance Regulatory and Development Authority of IndiaRead more


Forthcoming UK tax changes to hit loss reporting

8 November 2016

A raft of changes to UK corporate tax law next year are likely to cause substantial disruption to how insurers structure their financial reportingRead more


Lloyd’s granted Indian branch approval

7 November 2016

Lloyd's will establish an Indian branch in 2017 after securing R1 approval from the Insurance Regulatory and Development Authority of India (Irdai)Read more


Gable administrator asks court to delay bankruptcy

3 November 2016

PwC has asked the Liechtenstein courts to delay bankruptcy proceedings at Gable Insurance to provide investors with a final opportunity to inject capital into the businessRead more


Irdai clears way for ITI Re

27 October 2016

The Insurance Regulatory and Development Authority of India (Irdai) has given second-round approval for the launch of the country's first private reinsurer, ITI ReRead more


Insider View: BaFin’s third-country rules

25 October 2016

The reinsurance industry has a clear expense problem. It already costs too much to deliver the product - and this is a constant refrain of platform speeches from industry luminariesRead more


BaFin stance leaves US (re)insurers frustrated

25 October 2016

US (re)insurers have found themselves in limbo ahead of the major 1 January renewal for German cedants' business, following a rule change by German regulator BaFinRead more


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