All News articles – Page 167
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NewsICO fines British Airways £20m for data breach
It is the Information Commissioner’s biggest data breach fine to date and falls under the GDPR regime
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NewsCherry-picking systemic risks is ‘a path to run-off’ for insurers
The insurance industry runs the risk of irrelevance if it chooses to take only the easy-to-manage parts of the systemic risks facing its customers, according to a panelist at a terrorism insurance conference.
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News‘Share pandemic risk coverage’, urges Marsh chief exec
Marsh boss calls for creative solutions to mitigate future pandemics and other shock events
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NewsAM Best removes From Under Review With Negative Implications and Affirms Credit Ratings of Al Ittihad Al Watani
AM Best has removed Al Ittihad from under review with negative implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Al Ittihad Al Watani (L’Union Nationale) Société Générale D’Assurances du Proche Orient, sal (Al Ittihad) (Lebanon). The outlook assigned to ...
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NewsAXA has completed the sale of its operations* in Central and Eastern Europe for Euro 1.0 billion
AXA announced today that it has completed the sale of its Life & Savings, Property & Casualty and Pension businesses in Poland, Czech Republic and Slovakia to UNIQA Insurance Group AG (“UNIQA”), for a total cash consideration of Euro 1.0 billion.
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NewsCovéa Insurance to transfer £35k of apprenticeship levy funding to local businesses
Businesses based in Halifax now have access to £35,000 of funding to deliver apprenticeship training, thanks to a levy-transfer scheme set up by Covéa Insurance and local further education provider, Calderdale College.
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People & OpinionAspen appoints Tony Rai as head of AIUK and AMAL claims
Tony will join Aspen in early 2021 from Hiscox, where he has been Head of London Market Claims since 2009 and responsible for the management and leadership of claims for three business units, Hiscox London Market Insurance (including Hiscox MGA), Hiscox Re, and Hiscox Special Risks.
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People & OpinionStefan Golling appointed to the Munich Re Board of Management as of 1 Jan 2020
The Supervisory Board of Munich Reinsurance Company has appointed Stefan Golling (44) to the Munich Re Board of Management as of 1 January 2021. Management of the Global Clients and North America Division will pass to Mr. Golling from Dr. Peter Röder, who has chosen to step down from the ...
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People & OpinionMetLife Announces Senior Leadership Changes
MetLife today announced a number of changes to its senior leadership team. All changes are effective on January 1, 2021, unless otherwise noted. Executive Vice President and President of the Latin America region Oscar Schmidt will retire after a distinguished 26-year career with the company. He will step away from ...
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NewsAM Best Downgrades Issuer Credit Rating of Saudi Arabian Insurance Company
AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Saudi Arabian Insurance Company B.S.C. (c) (Damana) (Bahrain). The outlook of the Long-Term ICR has been revised to stable from negative, whilst the outlook ...
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NewsRegulatory costs weigh on UK non-life insurers’ profitability – Fitch Ratings
In Insurance Times’s October 2020 issue, Fitch Ratings’s director of EMEA insurance Katia Ishchenko discusses how regulatory changes could affect personal lines insurers and brokers
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People & OpinionAXA UK and Ireland confirms new chief exec for UK retail arm
The new hire will replace Laurent Matras, who is moving to AXA Asia
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News‘SIRC 2020 Re-Mind’ - virtual event scheduled for 2 to 5 November 2020
‘SIRC 2020 Re-Mind’ – setting the standard for industry events in the future digital world! The COVID-19 outbreak has severely disrupted the global economy as well as livelihoods and provided an acid test on the resilience of businesses and people to adapt and respond positively to the changes and challenges ...
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People & OpinionQBE International’s chief underwriting officer to retire
O’Farrell will adopt a part-time role during the transition period, which will begin on 1 January 2021
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AIRInsurer and broker confidence on the rise, despite pandemic regulatory road bumps
General insurer and broker confidence is rising this quarter, despite the pressures both are facing from the FCA pricing crackdown and the business interruption test case, a joint survey by PwC and the CBI has reported.
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NewsRandall & Quilter Investment Holdings reports 30 percent increase in pre-tax profit
30% increase in Pre-Tax Operating Profit driven by strong growth across both business lines with the Group well positioned to capitalise on favourable market conditions Randall & Quilter Investment Holdings Ltd. (AIM-RQIH), the non-life global specialty insurance company focusing on the Program Management and Legacy Insurance businesses, announces the Group’s ...
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NewsLloyd’s announces charitable donations of £15 million in response to COVID-19
In response to the spread of COVID-19 globally, in March Lloyd’s committed to a £15m package of support for charitable organisations responding to the pandemic. To date 197 charities worldwide have received donations from Lloyd’s totalling £12 million, helping to support a wide range of organisations and ...
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NewsPay-per-part: TRUMPF and Munich Re plan new business model for the manufacturing industry
”The cooperation with TRUMPF is an outstanding example of how the combination of Munich Re Group’s various offerings – risk solutions, IoT technology and financing – makes it possible to develop innovative business models for the industry. We are convinced that such partnerships represent a forward-looking response ...
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NewsGuy Carpenter launches GC Access, a dedicated programme business unit underpinned by market-leading analytics support
Guy Carpenter announced today the launch of a new business unit GC AccessSM to provide dedicated MGA programme business solutions. GC Access offers a range of services to carriers and MGAs operating in the dynamic programme market. This includes carrier and reinsurance transactions, captive support, insurtech expertise and programme startup ...
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NewsBest’s Commentary: Strong brands the likely winners of UK Insurance Pricing Review
UK personal lines insurers will need to adjust their pricing models in response to the Financial Conduct Authority’s proposed remedies surrounding the pricing of policies for renewing customers, according to a new AM Best commentary.
