US rates remain in negative territory
07 March 2016
The overall composite premium rate for US property and casualty insurance remained down 4% in February, a month typically marked by slow activity, according to analyst MarketScout…
International
Zurich reaffirms commitment to Hong Kong, Singapore
29 February 2016
Zurich says it has “no intention” of exiting the Hong Kong and Singapore markets, after reports suggested it was exploring a sale…
Sea level increase ‘fastest in 2800 years’
29 February 2016
Sea level rises last century were “extremely likely faster than during any of the 27 previous centuries”, according to a new report…
Swiss Re profit surges as Liès names successor
29 February 2016
Swiss Re has reported a 31% rise in net profit to $US4.6 billion for last year, and announced the promotion of CEO Reinsurance Christian Mumenthaler to Group CEO…
Steady as you go for Berkshire insurance
29 February 2016
Berkshire Hathaway has reported an operating profit of $US17.36 billion for last year, up 4.9% on 2014…
M&A deals raise claims
29 February 2016
A high percentage of mergers and acquisitions globally result in disputes and insurance claims after finalisation, according to AIG…
Expect more ‘transformational’ M&A: report
29 February 2016
Last year was a time of “transformational” merger and acquisition activity in the industry, and more is on the way, according to Ernst & Young Global Insurance Transactions Leader David Lambert…
Insurers struggle to assess damage in cyclone-hit Fiji
29 February 2016
Damage to Fiji’s communications facilities is making it difficult for insurers to assess the destruction left by Tropical Cyclone Winston, the strongest storm to have struck in the southern hemisphere…
Google shuts US, UK insurance comparator
29 February 2016
Google has started winding down its comparison website for motor and travel insurance and services including credit cards and mortgages…
CSC bid for Xchanging clears US hurdle
29 February 2016
Computer Sciences Corporation is a step closer to acquiring UK insurance outsourcing business Xchanging after its takeover bid met US regulatory requirements…
Many businesses ill-prepared for crises, study shows
29 February 2016
More than 50% of companies believe they are inadequately prepared for crises, according to a new Deloitte survey…
Fiji begins counting cost of Cyclone Winston
22 February 2016
Fiji is struggling to clean up after Tropical Cyclone Winston slammed into the Pacific island nation at the weekend, bringing average winds of 230kmh…
January ‘smashed heat records’
22 February 2016
Last month was the hottest January and the ninth consecutive month to break temperature records, according to the US National Oceanic and Atmospheric Administration…
China moves up global market rankings
22 February 2016
China has grown to become the world’s third-largest insurance market, with annual premium of 2.4 trillion yuan last year, according to state-run news agency Xinhua…
Strong last quarter lifts Allianz full-year result
22 February 2016
Allianz Group is confident it can continue performing strongly after its net profit grew 6.3% last year despite tough conditions and higher claims from natural catastrophes…
QBE US office snaps up ex-Zurich claims chief
22 February 2016
Former Zurich chief claims officer for Australia and New Zealand Daniel Franzetti has been appointed chief claims officer at QBE North America…
Reinsurance renewal rates have room to fall further: Fitch
22 February 2016
Fitch says renewal rates have “yet to reach a floor” and has maintained its negative outlook for the reinsurance sector…
Industry can ‘contribute significantly’ to Paris climate plan
22 February 2016
Insurers have the expertise to aid an ambitious United Nations climate action plan, according to industry think tank the Geneva Association…
UK insurers warn on further premium tax rises
22 February 2016
The Association of British Insurers has cautioned the UK Government against raising the insurance premium tax in its upcoming budget, warning it could encourage consumers to reconsider their levels of protection…
Asia drives growth in captive insurance: Aon
22 February 2016
Asia is warming to the idea of captive insurance as more groups realise its long-term strategic value, according to global broker Aon…