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Finance director sued over missing £2.4mn

A (re)insurance company in liquidation has taken its former finance director to court following allegations he siphoned off some £2.4mn of its funds into personal bank accounts.

Catrin Shi, 21 March 2016
Ageas reaches EUR1.2bn settlement over Fortis collapse

Belgian insurer Ageas, which was spun-out from financial services conglomerate Fortis after the group collapsed amid the financial crash, has agreed to pay EUR1.2bn ($1.4bn) to settle crisis-era shareholder suits.

Dan Ascher, 21 March 2016
Alliant looks to move Aon dispute to California

Californian broker Alliant is looking to move a bitter poaching dispute with Aon to a court in its West Coast heartland where restrictive covenants carry less weight.

Dan Ascher, 21 March 2016
Hearn brothers look to dismiss $3.6mn Willis Re fight

Former Willis Re executives Peter and David Hearn have asked a court to throw out a $3.6mn claim brought against them by their erstwhile employer.

Dan Ascher, 21 March 2016
Government introduces FCA regulatory regime for CMCs

The UK government will clamp down on claims management companies (CMCs) and establish the Financial Conduct Authority (FCA) as their regulator, Chancellor of the Exchequer George Osborne said in the budget statement last week (16 March).

Winifred Okocha, 21 March 2016
Mega-ships increasing risk of billion-dollar losses

Allianz Global Corporate & Specialty (AGCS) has warned that the insurance industry is facing an increasing risk of billion-dollar losses from mega-ships as demand for larger container vessels continues unabated.

Matthew Neill, 21 March 2016
Comparing SCRs like comparing ‘apples with pears’

Lloyd's chief risk officer Sean McGovern has warned against comparing the solvency capital requirement (SCR) of different insurance companies.

Winifred Okocha, 21 March 2016
Global P&C reinsurance combined ratios decrease

Global reinsurers' P&C reinsurance arms reported a general improvement in underwriting performance in the final quarter of 2015, with a benign catastrophe environment helping produce better results.

Iulia Ciutina, 21 March 2016
Global reinsurers report top line growth in Q4

Despite suppressed demand for reinsurance coverage in the P&C market and continued oversupply of capacity, global reinsurers successfully found opportunities to expand their portfolios in the final quarter of 2015.

Iulia Ciutina, 21 March 2016
Consumer auto set to bounce back

"Beaten up" US consumer auto insurers are set to bounce back after a round of rate increases, amid a backdrop of competitive pricing, Bernstein analysts have found.

Dan Ascher, 21 March 2016

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