FM Global to open Singapore loss prevention centre
29 August 2016
International insurer FM Global has begun work on an $S80 million loss prevention training and operations centre in Singapore…
International
Louisiana counts cost of floods
29 August 2016
Recovery efforts are under way in flood-hit Louisiana as the southern state struggles with the aftermath of the worst natural disaster to hit the US since Superstorm Sandy in 2012…
Rate reductions lose pace worldwide
29 August 2016
Global insurance rates have declined for the 13th consecutive quarter, but the rate has slowed for the second quarter in a row, according to new figures from Marsh…
First-half losses soar as disasters take toll
22 August 2016
Global insured losses for the first half grew 51% to about $US31 billion compared with the corresponding period last year, Swiss Re says…
Chubb names new Asia-Pacific P&C chief
22 August 2016
Chubb has appointed Jason Keen as Head of Property and Casualty for Asia-Pacific under a shake-up of senior positions…
AIG parts with mortgage arm under group revamp
22 August 2016
AIG has sold mortgage insurance arm United Guaranty Corporation to Arch Capital Group for $US3.4 billion under a strategic plan to focus on its core business, yielding to shareholders’ pressure for a more efficient operation…
Marsh tips US market to stay soft
22 August 2016
US property and casualty markets are expected to remain soft this year while demand for cyber cover continues to rise, according to Marsh…
Reinsurers exposed on catastrophes, says S&P
22 August 2016
Falling prices have left global reinsurers potentially exposed if catastrophe levels return to normal, according to a report from Standard & Poor’s…
IAIS says insurers are prime targets for cyber attack
22 August 2016
Insurers remain prime targets for cyber crime due to the sheer volume of private and commercial data they collect, an International Association of Insurance Supervisors issues paper warns…
US makes technological leap for flood modelling
22 August 2016
The US National Oceanic and Atmospheric Administration has unveiled a supercomputer-powered flood modelling tool that vastly improves the country’s forecasting capabilities…
UK’s ‘massive’ contract law shake-up takes effect
15 August 2016
The UK’s Insurance Act came into force on Friday, marking the biggest legislative shake-up in commercial insurance contract law for more than a century…
Terror threat opens new revenue stream
15 August 2016
Demand for business interruption cover and other terror-related policies will grow as companies seek to protect themselves from the flow-on effects of increased political violence, KPMG says in a new report…
Nat-cat losses drag Munich Re profit down
15 August 2016
Munich Re’s net profit fell 9% to €974 million in the quarter to June 30 as loss expenditure for major events blew out to €542 million from €207 million in the corresponding period last year…
Outlook worsens for Atlantic hurricane season
15 August 2016
The Atlantic hurricane season is still expected to be the most severe since 2012, according to an updated forecast from the US National Oceanic and Atmospheric Association…
Zurich earnings drop amid restructure
15 August 2016
Zurich says restructuring charges contributed to its first-half net profit dropping 22% to $US1.61 billion, as the Swiss-based insurer moves to simplify its operations and improve its business focus…
Talanx rides out cat losses to lift half-year profit
15 August 2016
HDI Global’s parent Talanx has posted a 28.9% rise in half-year net income, despite a spate of natural disaster losses including from the huge wildfire in Canada…
Allianz credit rating gains lift
15 August 2016
AM Best has moved Allianz’s issuer credit rating outlook to positive from stable and affirmed its financial strength rating at A+ and issuer credit rating at aa-…
Lessons from Tianjin, one year on
15 August 2016
The huge explosions that struck one year ago in Tianjin may change future thinking on accumulation risk, according to Munich Re…
Crawford doubles Q2 profit
15 August 2016
A strong international performance and the fruits of a cost-reduction plan lifted global loss adjuster Crawford & Company’s second-quarter profit to $US8.6 million – more than double the figure for the corresponding period last year…
Hurricane threat makes US ports among riskiest
15 August 2016
Six of the world’s 10 most at-risk ports are on the US coast of the Gulf of Mexico, with exposure to hurricanes the main factor in their rankings, according to catastrophe modeller RMS…