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(Re)insurers face scrutiny from new UK regulator, warns former Tory minister
The lack of legislation covering the quasi-banking investment activities that took American International Group (AIG) to near-collapse should make (re)insurers pause before telling regulators that they are not the same as banks.
24 June 2010
Montpelier Re wins arbitration and affirms Deepwater $20mn loss estimate
Bermudian (re)insurer Montpelier Re Holdings has won an arbitration case over reinsurance contracts involving $73.8mn plus $2.5mn interest, and has said that it will hold to its $20mn Deepwater Horizon loss estimate.
24 June 2010
Organic growth drives profitable H1 for THB Group
Independent London market (re)insurance broker Thomson Heath and Bond Group (THB) saw fees and commissions rise 5 percent in the first half of 2010 to £24.6mn, fuelled by organic growth and a stronger US dollar.
24 June 2010
Whittington launches Singapore direct online insurer
Singapore-headquartered insurance investor and services provider Whittington Group is launching a new direct online insurance company to serve the local market.
24 June 2010
R&Q eyes further expansion in ‘upbeat’ business conditions
UK-quoted Randall and Quilter Investment Holdings (R&Q) has issued an upbeat business prognosis as it looks to build on its recent acquisition trail, with Solvency II holding out more opportunities in Europe.
23 June 2010
UK Govt to adopt (re)insurer-friendly tax regime
The UK's coalition government has pledged to reform two aspects of the tax regime highlighted by a tax policy paper prepared by The Insurance Insider's London 100 group and submitted to all three main political parties earlier this year.
22 June 2010
Aviva chairman gains seat on UK government's business council
The chairman of UK composite insurer Aviva Lord Sharman has been named as one of the five members of a council of business elders created by UK business secretary Vince Cable.
22 June 2010
UK premium tax rise far smaller than feared
Chancellor of the Exchequer George Osborne disproved UK commercial insurers' gloomiest predictions in his emergency budget today (22 June), announcing an insurance premium tax (IPT) increase of just 1 percent to 6 percent.
22 June 2010
Xchanging to partner with European financial payments specialists
Global business processor and outsourcing giant Xchanging is set to acquire 51 percent of Kedrios, an Italian subsidiary of European financial and payments systems service provider SIA-SSB.
22 June 2010
Aegon seeks buyer for Transamerica Re
Dutch insurance giant Aegon is looking to sell its Transamerica life reinsurance arm as it moves to sharpen its focus on core activities and improve its risk profile.
22 June 2010
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