JLT, Willis settle ‘staff poaching’ lawsuit
18 April 2016
JLT will pay about £22 million to settle a London lawsuit brought by rival broker Willis over the unauthorised recruitment of staff…
International
London market signs up for exchange platform
18 April 2016
US-based insurance software and services specialist Ebix has signed a contract to build a placement platform linking brokers and insurers across the entire London market…
Brexit spells business disruption for insurance: QBE
18 April 2016
Insurers can expect some business disruption if Britain votes to leave the European Union in a June 23 national referendum, according to a QBE report…
Gen Re chief to retire as Berkshire Hathaway restructures
18 April 2016
Gen Re Chairman and CEO Tad Montross will step down at the end of this year…
Reinsurer results ‘not sustainable’
18 April 2016
The reinsurance market remains under pressure from rate declines, low investment yields and the influx of alternative capital, according to a new report from AM Best…
Cyber risks on radar, but strategies fall short: report
18 April 2016
The cost of business interruption is the leading cyber-risk concern for businesses, according to Aon Global Risk Consulting…
Munich Re, Beazley team up on cyber cover
18 April 2016
Munich Re-owned Corporate Insurance Partner and Beazley have joined forces to offer cyber cover of up to $US100 million in response to growing demand…
Connected world exacerbates risk, Marsh warns
18 April 2016
Risk forecasting will become increasingly difficult as established threats intersect with emerging ones, according to a new report from Marsh…
US Treasury to appeal court’s MetLife ruling
11 April 2016
The US Treasury will appeal against a court ruling dismissing MetLife’s designation as a systematically important financial institution…
Lloyd’s participants fear Brexit consequences
11 April 2016
Seven out of 10 insurers, brokers and service providers in London’s international insurance market believe leaving the European Union would “hurt” or “severely damage” Lloyd’s…
Britain activates flood insurance scheme
11 April 2016
The UK Government’s flood reinsurance scheme has started to accept policies from insurers after three years of preparatory work…
Reinsurer capital dips, but earnings solid: Aon
11 April 2016
The latest Aon Benfield Aggregate report estimates total global reinsurer capital was $US565 billion at December 31, down 2% from a year earlier…
IMF flags further systemic risk from insurers
11 April 2016
The global financial system faces more systemic risk from the insurance sector, including life insurers, according to the International Monetary Fund…
Insurance M&A has poor success rate: S&P
11 April 2016
Buying an insurance competitor does not always improve financial strength, ratings agency Standard & Poor’s says…
Stock markets a target for cyber crime: report
11 April 2016
Financial markets are a prime target for cyber attacks because they are “where the money is” and can represent a nation or symbolise capitalism, according to a new report…
US insurers face $2 billion storm bill
11 April 2016
Storms and floods last month are expected to have cost the US economy $US3.5 billion, according to Impact Forecasting’s Global Catastrophe Recap…
‘Below-norm’ Atlantic hurricane season expected
11 April 2016
The forthcoming Atlantic hurricane season is expected to be “slightly below normal” based on current modelling, according to forecaster Tropical Storm Risk…
US commercial rate cuts slow
11 April 2016
The composite premium rate for US commercial property and casualty insurance was down 3% last month, according to analyst MarketScout…
Brexit fears compound tough period for Lloyd’s
04 April 2016
Lloyd’s says the prospect of a British exit from the European Union has added to an already tough business landscape, after earnings fell 30% last year…
Black swan label an ‘excuse for poor risk management’
04 April 2016
The “black swan” theory on natural catastrophes and other crises that cannot be predicted no longer holds sway, according to Munich Re Chairman Nikolaus von Bomhard…