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Global capital standards for US insurers would increase cost of cover: Namic/PCI

Attempts to apply global capital requirements to large US insurers are "unnecessary" and would likely lead to higher rates and less choice for buyers across the industry, according to the National Association of Mutual Insurance Companies (Namic) and PCI.

Jenny Messenger, 19 November 2014
Gallagher Bassett hit by $8mn NSW workers’ comp loss

AJ Gallagher subsidiary Gallagher Bassett has been hit by an $8mn charge after losing a workers' compensation contract with the Australian state of New South Wales.

Dan Ascher, 18 November 2014
Pool Re obtains Treasury approval to seek retro cover

The UK Treasury has granted Pool Re permission to purchase retrocessional capacity from the private market, according to a 14 November letter from the Treasury to the terrorism insurance facility's CEO Julian Enoizi.

Jenny Messenger, 18 November 2014
Airline rates up 13% but hull war falls short: JLT

Hull war rates did not rise as far as underwriters hoped, but both overall prices and premium volume in the airline sector increased during October compared to 2013, according to JLT

Jenny Messenger, 18 November 2014
Atrium hires senior underwriter

Atrium Syndicate 609 has hired Giles Taylor to join its property underwriting team.

Winifred Okocha, 18 November 2014
Otto Thoresen steps down as ABI director general

Otto Thoresen is set to step down as director general of the Association of British Insurers (ABI), the trade body announced today (18 November)

Jenny Messenger, 18 November 2014
Icat upgrades 2013 profits forecast

US property cat specialist Icat has nudged up the profit forecast for its Syndicate 4242's 2013 underwriting year

Charlie Thomas, 18 November 2014
Hamilton acquires Lloyd’s insurer Sportscover

Brian Duperreault-led Hamilton Insurance Group has entered into a share purchase agreement to acquire the Sportscover Underwriting Lloyd's managing agent and its Lloyd's broker Kinetic Insurance Brokers, the firm announced today (18 November).

Charlie Thomas, 18 November 2014
Lloyd's offers incentive to boost volume claims platform

Lloyd's has introduced a financial incentive for managing agents to use its fast-track claims handling service in an effort to encourage greater support of the system

Charlie Thomas, 18 November 2014
Quindell chairman Terry steps down

Following reports from last night (17 November), Quindell founding chairman Rob Terry has resigned from the troubled UK insurance services and technology provider. Normal 0 false

Charlie Thomas, 18 November 2014

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