Munich Re forms partnership to assess epidemic risks
08 February 2016
Munich Re will step up the use of data analytics to design property and casualty covers for economic losses from epidemics such as the Middle East respiratory syndrome outbreak…
International
US industry tackles talent shortage
08 February 2016
More than 300 organisations covering every aspect of the US insurance industry have combined to declare this the first annual Insurance Careers Month…
Piracy stable as focus switches to southeast Asia
08 February 2016
Southeast Asian waters remain dangerous for commercial vessels, with the region accounting for the bulk of piracy and armed robbery incidents last year, the International Maritime Bureau says…
Major reinsurers back UK’s $4.3 billion flood pool
08 February 2016
The UK Government has secured £2.1 billion in cover for its flood reinsurance pool, with Munich Re and Swiss Re among the key supporters…
Ergo drags on Munich Re profit
08 February 2016
Munich Re says profit fell to €3.1 billion last year from €3.2 billion in 2014 as earnings took a hit from its underperforming Ergo primary insurance unit…
Aon fights market’s ‘substantial volatility’
08 February 2016
Aon has reported net income available to shareholders of $US1.36 billion for last year, down 1% on 2014…
Marsh insurance result holds steady
08 February 2016
Marsh Risk and Insurance Services’ revenue fell to $US6.8 billion last year from $US6.9 billion in 2014…
Risk modellers set out cyber strategies
08 February 2016
Insurers can follow five cyber-loss processes to build up coverage in what is expected to be one of the industry’s fastest-growing markets, according to a new report…
Gallagher Q4 revenue rise caps ‘excellent year’
08 February 2016
Arthur J Gallagher has recorded a strong December quarter “to finish an excellent year”, CEO Patrick Gallagher says…
WR Berkley confident despite profit drop
08 February 2016
WR Berkley has reported net income of $US503.69 million for last year, down 22% on 2014…
Willis Re aims high with drone partnership
08 February 2016
Willis Re has formed a strategic partnership with drone operator Measure to expand the use of unmanned aerial vehicles in the insurance industry…
Axis result reflects challenging year
08 February 2016
Bermuda-based Axis Capital, which closed its retail insurance operations in Australia last October, says full-year net global income fell 22% to $US601.56 million following a “challenging year on many fronts”…
Beazley hails profit rise in soft market
08 February 2016
Beazley posted an improved net profit of $US249 million last year, as gross written premium grew 3% to $US2.08 billion…
US rates dip as commercial property insurers wage war
08 February 2016
The composite rate for US property and casualty business fell 4% last month as the price war among insurers intensified, according to analyst MarketScout…
Allied World profit tumbles
08 February 2016
Swiss-based (re)insurer Allied World has reported an 83% plunge in net profit for last year, as tough business conditions hit underwriting income…
Acting chief takes reins at Dual
08 February 2016
Hyperion Insurance Group has appointed Talbir Bains as CEO of Dual, the world’s largest international underwriting agency…
Zurich names new CEO, flags $390 million loss
01 February 2016
Zurich Insurance Group expects to record a $US275 million loss for last year, and has recruited Mario Greco, the CEO of Italy’s largest insurer Generali, as its new global CEO…
Climate change tops global risk list
01 February 2016
Climate change poses the biggest risk to the world and a failure to adapt to shifting weather patterns could have disastrous consequences, according to the World Economic Forum’s Global Risks Report for this year…
El Nino curbs catastrophe losses: Munich Re
01 February 2016
Global natural catastrophe losses hit a six-year low last year at $US90 billion, of which $US27 billion was insured, according to Munich Re…
Reinsurance capital stable: Guy Carpenter
01 February 2016
Reinsurance capital levels stabilised at the January renewals, according to a Guy Carpenter report…