Willis Towers Watson upbeat despite loss
06 November 2017
Willis Towers Watson CEO John Haley is “very pleased” with third-quarter results that include rises in revenue and commission and fees, despite a net loss of $US54 million…
International
Storms, quakes hit Berkshire’s insurance result
06 November 2017
Berkshire Hathaway’s insurance underwriting arm has reported a third-quarter $US1.44 billion net operating loss, after sustaining $US835 million of losses from hurricanes in the US and Caribbean, plus earthquakes in Mexico…
Liberty Mutual takes hurricane hit
06 November 2017
Hurricanes Harvey, Irma and Maria left Liberty Mutual with a third-quarter loss of $US665 million, compared with a profit of $US445 million in the corresponding period last year…
Arch reveals loss in catastrophe-hit Q3
06 November 2017
Bermuda-based (re)insurer Arch Capital incurred a net loss of $US52.8 million in the third quarter, down from net income of $US247.4 million in the corresponding period last year…
Aspen hopes quarterly losses drive up industry pricing
06 November 2017
Aspen Insurance Holdings fell to a $US253.8 million loss in the third quarter, compared with a $US95.6 million profit in the corresponding period last year, after hurricanes and other disasters hit performance…
Reinsurers urge industry to take lead on disruption
30 October 2017
Insurers must move fast and take the initiative in transforming the industry, Munich Re CEO Joachim Wenning says…
Lloyd’s updates hurricane bill
30 October 2017
Almost $US900 million has been paid in claims for hurricanes Harvey, Irma and Maria, Lloyd’s says in an update…
Munich Re braces for $4 billion hurricane bill
30 October 2017
Munich Re has joined the growing hurricane casualty list, projecting a third-quarter net loss of €1.4 billion and discarding its full-year €2-€2.4 billion profit estimate…
Disastrous quarter leaves Lloyd’s exposed: Fitch
30 October 2017
Catastrophe losses from hurricanes, Mexican earthquakes and Californian wildfires may leave Lloyd’s exposed to a ratings downgrade, Fitch says…
US wildfire bill may top $3.9 billion: AIR
30 October 2017
California wildfires that destroyed about 8900 structures and killed 42 people will cost insurers $US2-3 billion, according to catastrophe modeller AIR Worldwide…
Risk analysts urge focus on near misses
30 October 2017
The insurance industry should analyse near misses and learn from them, as it does from actual events, according to a new report from Lloyd’s and catastrophe modeller RMS…
Expenses blowout hits Aon profit
30 October 2017
Aon has reported a fall in third-quarter net income to $US185 million from $US319 million, as expenses increased at double the pace of revenue…
Hurricanes knock XL into red
30 October 2017
XL Group recorded a net loss of $US1.04 billion in the quarter to September 30 as its catastrophe bill blew out due to hurricanes in the US and Caribbean…
Chubb points to ‘firming prices’ after catastrophe losses
30 October 2017
Chubb has recorded a $US70 million net loss for the three months to September 30, with after-tax catastrophe losses at $1.53 billion…
Risk division lifts Marsh earnings
30 October 2017
Marsh & McLennan’s risk and insurance services division revenue grew 8% to $US1.8 billion last quarter as the Asia-Pacific region made a solid contribution…
Catastrophes drag on WR Berkley earnings
30 October 2017
Commercial lines insurer WR Berkley has reported a decline in third-quarter net income to $US162 million, down from $US221 million in the corresponding period last year, as hurricane losses took a toll…
Hurricanes blow Talanx off course
30 October 2017
Talanx expects to incur a net loss of €20 million for the third quarter, after taking a hit from hurricanes in the US and Caribbean…
Swiss Re puts Q3 cat bill at $4.6 billion
23 October 2017
The third-quarter combined claims burden from hurricanes Harvey, Irma and Maria and other natural catastrophes is about $US3.6 billion, Swiss Re says…
Zurich faces $794 million hurricane bill
23 October 2017
Zurich’s property and casualty business expects $US620 million in after-tax losses from hurricanes Harvey, Irma and Maria in the third quarter…
ILS market ‘performs well’ in catastrophe-hit Q3
23 October 2017
The global insurance-linked securities market held up in the third quarter despite the spate of natural catastrophes, according to Willis Towers Watson…