London rocked by $65 billion fire (350 years ago)
04 July 2016
Repairing damage caused by a blaze the size of the Great Fire of London in 1666 would cost insurers at least £37 billion today, the Association of British Insurers estimates…
International
London braces for Brexit fallout
27 June 2016
UK insurers have put on a brave face as Britain prepares to negotiate with the European Union over its divorce from the bloc…
ILS deals jump to Q1 record, BMA says
27 June 2016
Global deal volume for insurance-linked securities started the year strongly, setting a first-quarter record, according to the Bermuda Monetary Authority…
AM Best affirms Chubb ratings
27 June 2016
AM Best has removed from “under review with negative implications” the financial strength ratings of most Chubb subsidiaries, affirming them at a++…
AIR upgrades southeast Asia cat models
27 June 2016
AIR Worldwide has enhanced its modelling systems to assess typhoon and earthquake risks in disaster-prone southeast Asia…
Crawford rewards interim chief for profit turnaround
27 June 2016
Crawford & Company has appointed Interim President and CEO Harsha Agadi to the roles permanently…
BHSI takes on Asian accident and health
27 June 2016
Berkshire Hathaway Specialty Insurance (BHSI) will offer accident and health products in Asia as it looks to grow its business in the region…
Japan quake claim payouts hit $3.9 billion
27 June 2016
Insurance claim payments following an earthquake in Japan earlier this year have reached ¥301.9 billion, according to industry figures…
Fosun seeks US listing for Ironshore
27 June 2016
Chinese conglomerate Fosun is a step closer to listing insurer Ironshore on the New York Stock Exchange or NASDAQ…
KPMG flags failure in insurer transformations
20 June 2016
Insurers must start giving more priority to customers if they want to transform their operations in the new business landscape, according to a KPMG report…
Japanese insurers suffer outlook downgrade
20 June 2016
Fitch Ratings has cut its outlook on 11 Japanese insurers to negative from stable, following a government decision to delay a consumption tax increase…
Zurich sells Taiwan, Morocco businesses
20 June 2016
Zurich has sold insurance businesses in Taiwan and Morocco and says reshaping its geographic footprint is among its highest priorities over the next two years…
Skills gap looms as industry seeks digital expertise
20 June 2016
Insurance companies will focus on expanding this year, with a particular emphasis on recruiting people with digital, systems and software development skills, according to PricewaterhouseCoopers…
New UK laws to hit insurer margins, Fitch warns
20 June 2016
British commercial insurers face more intense price competition and slimmer margins due to forthcoming legislative changes, according to Fitch Ratings…
Munich Re to support Asian trade financing
20 June 2016
Munich Re will provide up to $US250 million of insurance capacity for trade financing in Asia, under an agreement with the Asian Development Bank…
UN-backed forum starts work on disaster risk management
20 June 2016
The United Nations-backed Insurance Development Forum has opened discussions on ways insurers can apply their expertise to improve global disaster risk management…
US commercial lines maintain slight price growth
20 June 2016
US commercial insurance prices increased by less than 1% in the first quarter of this year, according to a survey by Willis Towers Watson…
Terrorists ‘prefer guns to bombs’
20 June 2016
The Orlando nightclub shootings that left 49 people dead confirm terrorists’ increasing preference for guns over bombs, according to catastrophe modeller RMS…
More insurers join UK flood scheme
20 June 2016
Another 20 insurers have joined the UK’s government-backed Flood Re scheme, bringing the total to 36 since its launch on April 4…
Lloyd’s syndicates face rough ride: S&P
14 June 2016
London-based Lloyd’s syndicates face a triple whammy of strong competition, excess capacity and softening rates despite solid results last year, Standard and Poor’s says in a report…