Market
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Inconsistent models and Solvency II demand better model evaluation-broker
Due to inconsistencies within catastrophe models and the added uncertainty that Solvency II will bring to the allocation of capital…
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Cartel fears could hamper German rate rises following cats-DVS
German industrial insurers could fail to achieve a market-wide hardening of rates and conditions because of fears of another probe…
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Dröse urges greater market cooperation on Solvency II lobbying effort
Günter Dröse, president of ECIROA and global head of corporate insurance at Deutsche Bank in Frankfurt, has called upon the…
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Property market faces three-way squeeze that could raise rates—Lockton
Recent catastrophe losses, the introduction of more onerous catastrophe models and rising reinsurance prices all signal an uncertain future for…
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French ships turn to armed guards in bid to stave off piracy risk
French cargo ships are increasingly employing armed security teams in a bid to protect themselves against the raised threat of…
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Omnibus II delays threaten Solvency II deadline, warns KPMG
Delays to the finalisation of Solvency II’s latest revisions are having an ‘unwanted’ impact on the regime’s implementation and increasing…
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Corporate round-up
QBE appoints German country manager, Chartis Europe appoints Fabrice Brossart as chief actuary and Brit Insurance appoints Daniel Mitchell as…
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No general uptick in rates but softening market cannot continue—Marsh
Despite record level catastrophe losses in early 2011 there are no signs of an immediate uptick in insurance rates in…
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LMA unconvinced by dual regulation and calls for further involvement
The Lloyds Market Association (LMA) has criticised the UK government’s planned approach to regulation of Lloyd’s insurers and argued that…
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Full implementation of Solvency II by Jan 2013 ‘unlikely’ says actuary
Actuarial firm Barnett Waddingham believes that full implementation of Solvency II is unlikely to occur in the UK by the…
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AEGON sells Reinsurance arm to SCOR to aid state repayments
Standard and Poor’s (S&P) has affirmed its ‘A’ rating of SCOR SE and stuck to it’s ‘A-‘ rating with negative…
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UK’s FSA criticised for ‘two-tier’ approach to Solvency II
The FSA’s announcement that it will focus its internal resources on aiding the largest UK insurers, or high risk and…
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HDI-Gerling looks to expand international book to sell Talanx’s IPO
Risk managers across Europe who feel that their choice of insurers is limited could be well advised to talk to…
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Lockton launches product to help risk managers insure the ‘uninsurable’
Brokerage Lockton has launched a product line to help risk and insurance managers cover areas of risk that have traditionally…
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Chartis critical of changes to UK’s solicitors’ insurance regulations
Chartis has criticised the UK’s Solicitors Regulation Authority’s (SRA) decision to scrap the Associated Risk Pool (ARP) only in 2013,…
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Corporate round-up
Willis international appoint David Margrett as CEO, Kiln intends to merge Syndicate 807 with Syndicate 510, JLT gets license for…
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Willis warns of coverage gaps following recent political turmoil
Insurance buyers may soon find that they are unable to retain sufficient insurance coverage for risks in politically charged regions…
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Marsh & McLennan make senior management changes
Marsh & McLennan Companies last night made changes to its senior management team as Dan Glaser was appointed to the…
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Planned new Spanish insurance contract law good news for buyers
The likely adoption of a new Spanish insurance contract law is good news for insurance buyers, according to risk managers…
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Changes to Brazilian insurance law welcome but not enough-FERMA
The Federation of European Risk Management Associations (FERMA) has welcomed recent amendments to a much-criticised reinsurance law in Brazil, but…
