News

Insurance

CII launches initiative to develop UAE insurance industry

The Chartered Insurance Institute (CII) has partnered with the insurance authority of United Arab Emirates to establish an education programme in Abu Dhabi to boost professionalism in the UAE insurance sector.   13 March 2017

Insurance

AIG CEO loses support from shareholders on turnaround strategy and has to go

American International Group’s (AIG) US casualty business resulted in a $3 billion loss in the fourth quarter of 2016 and in the resignation of CEO Peter Hancock.   9 March 2017

Insurance

AIG CEO steps down due to lack of shareholder support

American International Group (AIG) has been forced to embark on a search for a new chief executive after its current leader revealed he intends to resign.   9 March 2017

Insurance

AIG selects Luxembourg for EU unit and reveals post-Brexit plan

American International Group (AIG) has announced its plan to locate an insurance company in Luxembourg to write business across the European Economic Area (EEA) and Switzerland once the UK leaves the European Union.   8 March 2017

Insurance

Insurers on UK '17 Budget: investment plan well received but taxes remain an issue

Insurers have welcomed the investments included in Chancellor Philip Hammond’s Spring Budget announced today,March 8, 2017, but the Insurance Premium Tax remains an issue for the industry.   8 March 2017

Insurance

Hong Kong warns on shrinking re/insurance hub, seeks growth in ILS

Hong Kong is losing re/insurance business particularly to Singapore and hopes for growth in ILS (insurance-linked securities).   8 March 2017

Insurance

Legal & General’s insurance business stagnates in 2016

Life and general insurance provider Legal & General has recorded a 12 percent rise in operating profit in 2016, but the insurance division stagnated during the period.   8 March 2017

Insurance

Barbican appoints underwriting director from Mitsui Sumitomo

Barbican Protect, the UK insurance arm of Barbican Insurance Group, has appointed Martin Eyres as underwriting director.   8 March 2017

Insurance

Lloyd’s syndicates flock to India

The establishment of a Lloyd’s branch in India is being followed by intense activity among syndicates keen to increase their exposure to the country, according to law firm Clyde & Co.   7 March 2017

Insurance

Material one-off Ogden rate cut hits reserves, profits but not ratings: Moody's

Motor re/insurers face a material one-off reserving hit due to the UK’s Ogden personal injury discount rate cut, hurting profitability, but ratings will remain unaffected, Moody's said.   7 March 2017

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