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US Treasury ill-equipped to analyse Tria: GAO
The US Treasury lacks sufficient data on the terrorism insurance market to properly evaluate the effectiveness of the Terrorism Risk Insurance Act (Tria), according to a Government Accountability Office (GAO) report published yesterday (11 June)
12 June 2014
Novae hires open market property head
Listed Lloyd's (re)insurer Novae has announced that it has appointed Anne Plumb as unit head of international open market property. She will report to Ian Burford, joint active underwriter, and takes up the role in September 2014
12 June 2014
UK watchdog eyes cap on replacement vehicle fees
The UK Competition and Markets Authority (CMA) today (12 June) proposed capping the cost of replacement vehicles as part of a series of measures aimed at driving down motor insurance prices.
12 June 2014
Balbinot to continue as Insurance Europe president
Sergio Balbinot is set to extend his mandate as president of industry lobby group Insurance Europe for another year, the organisation announced today (11 June).
12 June 2014
Heritage to take on $60mn Sunshine State book
Fast-growing Heritage Insurance Holdings is set to take on the $60mn portfolio of business previously written by failed Floridian insurer Sunshine State Insurance Company (SSIC).
11 June 2014
Henderson to resurface at Liberty
Liberty Specialty Markets, the combined London market arm of US insurance group Liberty Mutual, has recruited veteran marine and energy underwriter John Henderson, The Insurance Insider understands.
11 June 2014
Swiss Re unit buys HSBC life book
Swiss Re today (11 June) revealed its Admin Re life legacy unit had agreed to buy a book of life and annuity policies from global bank HSBC, and said the deal demonstrated its renewed commitment to the business after a failed attempt to sell it last year
11 June 2014
Quindell shares drop as LSE main market move blocked
Shares in Quindell fell by more than a quarter this morning (11 June) after it was announced that the insurance outsourcing firm had failed to graduate from the London Stock Exchange (LSE)'s junior AIM market to the main market
11 June 2014
US commercial price rises continue to moderate in Q1
Rate rises for US commercial P&C insurance slowed to an average of 4 percent during the first quarter as pricing momentum continued to moderate, according to the latest Towers Watson Commercial Lines Insurance Pricing Survey.
11 June 2014
Charles Taylor appoints new CFO
London-listed insurance services firm Charles Taylor today (11 June) named Mark Keogh as the replacement for outgoing chief financial officer Tito Soso, who leaves in August.
11 June 2014
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