UK companies are facing big cost increases in their employee insurance premiums as the average age of their employees continues to rise. Research from Towers Watson shows that when a company’s average employee age rises by five years its Group Income Protection insurance premium could increase by as much as...
Recognising the crucial role of the insurance sector in enabling and fostering innovation, private sector growth and overall economic development, the International Finance Corporation (IFC) – a member of the World Bank Group – and AXA have entered into an ongoing global partnership (mainly in Asia, Africa and Latin America)....
More than eight out of ten European companies expect to increase their use of multinational insurance programmes over the next three years as they become increasingly concerned about the risk management implications of their rising exposure to emerging markets, according to new research published recently by ACE Group. The survey...
UK retail insurers could face bigger than expected flood losses because of inadequate data about their exposure, warned rating agency Standard & Poor’s (S&P). In a report published by Insurance Times, S&P stated that flood risk presents the UK retail industry with a bigger challenge than other types of natural...
AIG Europe Limited is joining forces with the National Apprenticeship Service to announce its new apprenticeship programme. AIG will be creating job opportunities for up to 25 apprentices in 2013 based in the company’s claims centres in Croydon and Chesterfield. Nicolas Aubert, UK managing director for AIG said, “There is...
XL Group announced that it has further extended its support for specialist Shari’ah compliant managing general agency, Cobalt Underwriting, by adding fine art and specie coverage to its suite of products. In practice this means financial institutions and collectors can now buy cover with significant limits for a range of...
Swiss voters recently said no to a plan to shift to a state-run health insurance system, opting to stick with their current plans. Left-leaning parties said the current system is pushing the limits of people’s budgets – but their message was not enough to sway voters, according to anAFP report....
Law enforcers in Europe need greater powers to retain data for longer in order to catch cybercriminals selling discrete services that police cannot trace under existing regulations, according to a Europol report. Cybercrime is increasingly conducted by a highly specialized chain of software break-in experts, underground market-makers and buy-side fraudsters...
Switzerland: Insurer RSA recently announced, it was selling off its Chinese arm as part of chief Stephen Hester’s overhaul of the company. RSA sold Sun Alliance Insurance, its main business in China, to Swiss Re Corporate Solutions for GBP71 million. The unit generated GBP14 million in net written premiums...
UK: XL Group has announced that it will offer Shari’ah compliant insurance cover to large corporate and middle market clients. Initially it will focus on property cover, with a maximum capacity of up to USD300 million. With this offer it is targeting markets worldwide, with the exception of the U.S. and...
