Reinsurance giants set up shop in India
06 February 2017
Swiss Re and Munich Re will open branches in Mumbai after securing licences from the Insurance Regulatory and Development Authority of India…
International
NZ quake shakes XL Catlin’s earnings
06 February 2017
XL Catlin’s fourth-quarter operating net income tumbled 34% to $US128.44 million as the November earthquake in New Zealand and other catastrophes hit earnings…
Cyber expected to spur US commercial lines growth
06 February 2017
US insurance leaders expect significant commercial lines growth this year, with cyber covers leading the way…
WR Berkley increases profit despite hurricane impact
06 February 2017
WR Berkley recorded profit of $US601.92 million last year, up 19.5% on the previous year…
Allied World raises profit as Fairfax buyout looms
06 February 2017
Allied World has posted a net profit of $US255.2 million for last year, up from $US83.9 million in 2015…
Strong US result drives Beazley GWP gains
06 February 2017
London-listed Beazley says gross written premium grew 6% last year to $US2.2 billion after a strong performance from its US business…
Global heat record tumbles again
30 January 2017
The World Meteorological Organisation says last year’s average global temperature was the highest on record…
Allianz Risk Barometer flags interruption, protectionism
30 January 2017
Businesses must watch out for sudden changes to regulations amid fears of increasing protectionism and anti-globalisation, according to Allianz…
Guy Carpenter says reinsurance price spiral has eased
30 January 2017
Reinsurance pricing declines moderated across most classes and geographies this month compared with the past three renewal seasons, according to Guy Carpenter…
Lloyd’s warns on underwriting profitability
30 January 2017
Underwriting discipline will remain a focus at Lloyd’s after profitability deteriorated last year, according to an annual note from Chairman John Nelson and CEO Inga Beale…
AM Best puts AIG ratings on review
30 January 2017
AIG’s credit ratings are under review with negative implications after announcing its fourth-quarter financial result will include “a material adverse reserve adjustment and capital-supporting reinsurance transaction” for its US commercial business, AM Best says…
Fairfax buys Allied World for $6 billion
30 January 2017
Toronto-based Fairfax Financial Holdings is acquiring Swiss (re)insurer Allied World in a cash and stock deal for $US4.9 billion…
Cat bond issuance rises
30 January 2017
Catastrophe bond activity picked up in the fourth quarter of last year after a quiet northern summer, Willis says in a market update…
Natural hazards, climate dominate global risk chart
30 January 2017
Environment-related risks are among the top five global threats, according to an annual World Economic Forum report…
Catastrophe claims ‘highest in four years’
30 January 2017
Reinsurance broker Aon Benfield and reinsurers Munich Re and Swiss Re have published varying estimates of last year’s global catastrophe losses…
UK insurers criticise compensation scheme reforms
30 January 2017
The Association of British Insurers has attacked proposed reforms to a compensation scheme it calls “a vital safety net”…
BHSI ‘puts down roots’ in Malaysia
30 January 2017
Berkshire Hathaway Specialty Insurance has gained a licence from Malaysia’s Labuan Financial Services Authority to provide non-life reinsurance, and has established an office in Kuala Lumpur…
Hyperion seeks acquisitions as revenues rise
30 January 2017
UK-based Hyperion Insurance Group remains on the lookout for acquisitions after corporate deals helped drive a 45% revenue gain last financial year…
Commercial rates fall further in US
30 January 2017
US commercial rates were down 1% last month, compared with drops of 4% at the start of last year, according to analyst MarketScout…
Guy Carpenter names international division chief
30 January 2017
Guy Carpenter Head of Asia-Pacific James Nash has been appointed President of the group’s new international division…