Insurance news

• Tokio Marine grows reinsurance premium by a third

  12-02-2016 20:11
  Tokio Marine's reinsurance arm defied the soft market
  environment to grow its net written premiums by 33 percent to
  163.1bn yen ($1.45bn) for the nine months to 31 December.
  The increase at the unit, which includes Tokio Millennium Re,
  mainly came from non-catastrophe business and multi-year policies,
  Tokio Marine said.
  However, the reinsurance operations reported a 9 percent drop in
  profit to 9.2bn yen, due to large losses and FX movements.
  Overall, the international business, which includes re
  
  Read more

• Sompo Canopius books $23mn Tianjin impact

  12-02-2016 20:11
  Sompo Canopius suffered a loss of 2.6bn yen ($23.1mn) from the
  Tianjin explosions in August last year.
  The loss resulted in the Lloyd's carrier posting a 43
  percent year-on-year decline in net income to 4.3bn yen ($38mn) for
  the nine months to 31 December.
  However, Sompo Canopius still contributed the largest profit
  from the four international divisions of its parent Sompo Japan
  Nipponkoa, with the SJ America operations close behind with a 3.1bn
  yen profit for the nine months.
  Sompo...
  
  Read more

• AIG shares trade strongly after board shake-up

  12-02-2016 20:11
  American International Group (AIG) shares traded up by as much
  as 7.4 percent this morning (12 February) as investors reacted
  positively to the addition of activist shareholder representatives
  to its board.
  The company also reaffirmed its commitment to return $25bn of
  capital to shareholders over the next two years, including a higher
  quarterly dividend and an additional buyback authorisation of
  $5.0bn after repurchasing $2.5bn of its stock so far in 2016.
  Analysts noted that fourth quarter oper
  
  Read more

• Judge upholds Bluefin injunction against Mike Bruce and GRP

  12-02-2016 18:39
  
  Mr Justice Dove indicated that a trial should start in June
  
  Read more

• Advertisement

• Judge bars GRP from hiring Bluefin staff

  12-02-2016 18:33
  
  Court upholds temporary injunction which prevents Global Risk Partners from taking on or negotiating contracts with Bluefin staff until June.
  
  Read more

• Sunbed burn claim thrown out after fraud investigation

  12-02-2016 17:05
  
  Peta Fuller Postonline A personal injury claim for minor sunbed burns against Allianz was struck out after investigations by the insurer’s fraud team and law firm BLM.
  
  Read more

• Asia Capital Re eyes South Korea expansion

  12-02-2016 16:49
  Singaporean reinsurer Asia Capital Reinsurance (ACR) has applied
  for permission to set up a branch in South Korea, according to
  local media reports.
  Pulse News reported that ACR applied to the South Korea
  Financial Services Commission (FSC) in December for preliminary
  approval to set up a branch.
  It said that the FSC plans to review the application at its
  regular meeting next Wednesday (17 February), and that the licence
  could be issued within one or two months of preliminary
  approval....
  
  Read more

• Henderson buys John Reynolds Group

  12-02-2016 16:21
  
  Deal involves Manchester-based credit insurance specialist.
  
  Read more

• Advertisement

• Willis networks appoints Liz Foster as committee chair

  12-02-2016 16:15
  
  Foster replaces Roger Gaunt who completed his tenure at the end of last year.
  
  Read more

• Gallagher welcomes court order success

  12-02-2016 14:57
  
  Claim against Portsoken goes to speedy trial this year.
  
  Read more

• Gallagher wins court order to destroy disputed documents

  12-02-2016 13:29
  
  But MGA Portsoken and ex-Gallagher employee to appeal the ruling
  
  Read more

• Torrance joins Novae board as NED

  12-02-2016 13:23
  
  Stephanie Denton Postonline Former Allianz CEO Andrew Torrance has been appointed as independent non-executive director to the board of Novae Group, effective 1 March 2016.
  
  Read more

• Assurant Solutions promotes marketing boss to CEO

  12-02-2016 13:22
  
  Peta Fuller Postonline Specialist insurer Assurant Solutions has promoted Andy Morris to CEO and president of its European operations.
  
  Read more

• Quizzical questions: 12 February 2016

  12-02-2016 13:19
  
  Test your knowledge of the week's news with our topical news quiz.
  
  Read more

• Broking Break: Love is in the air

  12-02-2016 13:17
  
  Allianz counts the cost of Valentine’s Day and highlights some of the more unusual gifts.
  
  Read more

• AIG exits LPL and targets other casualty withdrawals

  12-02-2016 13:14
  American International Group (AIG) is exiting lawyers'
  professional liability (LPL) business and conducting full or
  partial withdrawals from the environmental and construction
  casualty sectors, The Insurance Insider
  can reveal.
  In its strategy update late last month the US insurance giant
  said it had "aggressively accelerated" the pace of
  remediation of and exits from underperforming sub-segments in the
  casualty arena.
  And according to sources, that included an LPL book of business
  that is curre
  
  Read more

• Scott Brown’s Accelerate MGA targeting £50m GWP in six years

  12-02-2016 13:10
  
  Company looking to deal with between 50 and 60 UK brokers
  
  Read more

• Gallagher wins injunction to protect confidential information

  12-02-2016 12:24
  
  Broker granted measure in proceedings brought against Portsoken Ltd and other defendants.
  
  Read more

• Blog - Enterprise Bill may drive PI for insurers

  12-02-2016 11:53
  
  John Curran Postonline Other professional services providers take out professional indemnity cover but should insurers now be looking for similar protection?
  
  Read more

• Net loss of $1.8bn for AIG

  12-02-2016 11:47 via insuranceage.co.uk
  
  Losses grow for AIG in Q4 2015 as full year income drops to $2.2bn from $7.5bn in 2014.
  
  Read more

• Quiz of the week – 12 February

  12-02-2016 11:00
  
  Peta Fuller Postonline Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
  
  Read more

• Seven charged with £950,000 medical, credit hire fraud

  12-02-2016 10:48
  
  Defendants include four Preston solicitors
  
  Read more

• Growth slows down at Gallagher UK as M&A tails off

  12-02-2016 10:04
  
  UK broking and risk management revenue increased 5.6% in 2015
  
  Read more

• Growth slows at Gallagher UK as M&As tail off

  12-02-2016 10:04
  
  UK broking and risk management revenue increased 5.6% in 2015
  
  Read more

• Shot ACE exec could lose leg as suspect remains on run

  12-02-2016 10:02
  
  Police release e-fit (pictured) of suspect who shot ACE president at Essex mansion 
  
  Read more

• AIG reports $1.8bn loss as break-up activist wins board power

  12-02-2016 09:54
  
  US insurer in another dramatic day of developments 
  
  Read more

• AIG falls to $1.8bn loss as break-up activist wins board power

  12-02-2016 09:54
  
  US insurer in another dramatic day of developments 
  
  Read more

• AIG's P&C division lost $2.3bn in Q4 2015

  12-02-2016 04:08
  Andrew Tjaardstra Postonline Global giant AIG's property and casualty arm fell to a loss of $2.3bn (£1.3bn) in the fourth quarter of 2015 compared with a $935m profit in Q4 2014.
  
  Read more

• Reserve charge sends AIG P&C to $2.34bn loss

  12-02-2016 03:05
  American International Group's (AIG) property casualty unit
  fell to a $2.34bn fourth quarter operating loss as a result of its
  preannounced $3.6bn pre-tax reserve charge and lower net investment
  income.
  There was also deterioration in the division's accident year
  loss ratio reflecting higher severe losses of $172mn, up from
  $66mn, and an increase in current accident year losses in US
  commercial auto liability and financial lines.
  Catastrophe losses surged from $35mn to $213mn for the
  period.
  The
  
  Read more

• AIG to add activist investors to board

  12-02-2016 03:05
  American International Group (AIG) has agreed to add to its
  board representatives from activist investors that have recently
  lobbied to break up the insurance giant.
  The insurer said it would expand its board of directors to 16
  seats to add John Paulson, president of Paulson & Co and Samuel
  Merksamer, a managing director of Icahn Capital and lieutenant of
  Carl Icahn.
  The move by AIG is aimed at averting a looming proxy battle
  after Carl Icahn had announced earlier this...
  
  Read more

Follow @Insurance_UKnws on Twitter!