Axa in talks to buy XL: report
05 March 2018
French insurance giant Axa is in talks to buy US property and casualty insurer XL Group, according to reports today in US and European business media…
International
Commercial rates end 54-month decline
05 March 2018
Global commercial insurance prices have increased for the first time in more than four years, lifted by gains in the catastrophe-hit property sector, according to Marsh…
‘Good intentions’ fail to address UK gender imbalance
05 March 2018
Women hold just one in five senior UK insurance jobs, even though most companies have diversity strategies, according to the Association of British Insurers…
Industry ‘must tailor insurtech response’
05 March 2018
Insurers must adapt innovation activities to the needs of different business lines, according to a new report from research and advisory group Celent…
US class actions, evolving risks hit D&O market: Fitch
05 March 2018
A growing number of class actions and evolving risks for company leaders are creating challenges for the US directors’ and officers’ market, Fitch Ratings says…
Cat losses break Berkshire’s 14-year profit streak
05 March 2018
Berkshire Hathaway’s insurance business made an operating loss of $US2.2 billion last year – its first loss after 14 years of profit…
Disasters a ‘wake-up’ call on climate change impact
05 March 2018
Last year’s string of natural disasters underscores the urgent need for new covers that better reflect the impact of climate change, according to Munich Re…
Friederike leaves $2.3 billion trail of damage
05 March 2018
Swiss catastrophe data company Perils’ initial loss estimate for Extratropical Cyclone Friederike (also known as David) is €1.46 billion…
Hiscox profit dives after ‘historic year’ for catastrophes
05 March 2018
Hurricanes, earthquakes and wildfires slashed profit last year for Bermuda-based specialty insurer Hiscox…
Liberty focuses on P&C after rough year
05 March 2018
Liberty Mutual will hone its focus on property and casualty insurance after selling its life unit and reporting an earnings dive…
Customer service, legacy systems dominate tech strategies
26 February 2018
Insurers are focusing on a few key areas to bring their technology up to speed with other industries, according to AM Best…
Ebix backs Lloyd’s placing platform drive
26 February 2018
Ebix says it is fully behind Lloyd’s efforts to mandate the use of electronic placing platform PPL, which is powered by the insurance technology provider’s know-how…
Catastrophes send Swiss Re P&C unit into red
26 February 2018
Swiss Re’s property and casualty reinsurance business recorded a $US413 million net loss last year, hit by $US3.7 billion of claims arising from natural disasters including Cyclone Debbie…
‘Stage set’ for busy year of M&A
26 February 2018
This year could be prolific for insurance mergers and acquisitions, according to a report from Deloitte…
Scor profit cut in half after catastrophes
26 February 2018
French reinsurer Scor has reported net profit of €286 million for last year, down 52.6% on 2016…
Fairfax hails record result
26 February 2018
Despite huge catastrophe losses, Canadian insurance investor Fairfax says it has recorded the best result in its 32-year history, with profit at $US1.74 billion last year…
Insurtechs draw record investment
19 February 2018
A record $US2.1 billion of venture capital was invested in insurtechs last year, while the number of deals hit a new high of 247, according to KPMG…
Ethnic minorities ‘quoted more for UK car cover’
19 February 2018
People with names common among ethnic minorities have been quoted more to insure their cars in the UK, according to two media investigations…
Nat cat record drags down Allianz profit
19 February 2018
Allianz has reported a 2.3% decline in net profit for last year, with CEO Oliver Bate blaming the industry’s “costliest natural catastrophe year”…
New accounting standard 'has minimal' impact
19 February 2018
General insurers are less affected than their life counterparts by the new accounting standard IFRS 9, which took effect at the start of this year, according to Fitch Ratings…