US wildfire claims lead September losses
12 October 2015
California was scorched by wildfires last month, with insured losses passing the $US1 billion mark, according to the latest catastrophe report from Aon Benfield subsidiary Impact Forecasting…
International
RIMS examines opt-out trend in US workers’ comp
12 October 2015
The Risk and Insurance Management Society has issued a report examining recent changes to US state-based workers’ compensation schemes, including the option now available in some states for employers to opt out…
Transport specialist TT Club reports stable performance
12 October 2015
Global transport and logistics industry insurer TT Club has reported a steady performance for the first eight months of this year, despite challenging conditions…
US P&C rates fall
12 October 2015
US property and casualty rates fell last month after holding steady in August, amid signs insurers are becoming more aggressive, according to MarketScout…
Berkshire cuts Munich Re stake, exits London deals
05 October 2015
Warren Buffett’s Berkshire Hathaway and its subsidiary National Indemnity have reduced their collective shareholding in Munich Re from 12% to less than 10%…
Zurich outlook negative, AM Best says
05 October 2015
AM Best has revised the outlook for Zurich Insurance Company and some affiliates to negative from stable, following unexpectedly high losses…
Clem Booth to chair Dual
05 October 2015
London-based Dual International has appointed former Allianz board member Clem Booth as its non-executive Chairman…
Insurance ‘can help end poverty’
05 October 2015
Managing risk is crucial in alleviating global poverty, according to the International Insurance Society…
Cyber-insurance limits ‘too small’
05 October 2015
The cyber-insurance market needs more capacity and could require coverage limits up to $US1 billion, according to a report from the US Federal Insurance Office…
Local groups lead disaster response: Red Cross
05 October 2015
Local humanitarian workers need greater recognition for the role they play in disaster response, according to the Red Cross…
Zurich axes RSA bid as Tianjin blasts spark loss
28 September 2015
Zurich Insurance Group has dropped its £5.6 billion bid for UK-based RSA Insurance Group after revealing its general insurance arm will lose about $US200 million in the third quarter…
Beazley heads Lloyd’s cyber-cover consortium
28 September 2015
Beazley and fellow operators of Lloyd’s syndicates Aspen Insurance and Brit Global Specialty have created the International Cyber Consortium to underwrite data breach coverage for non-US businesses…
QBE moves to expand credit and surety business
28 September 2015
QBE GM Credit and Surety Richard Wulff will relocate to Hong Kong in January to build the insurer’s credit and surety business in the region…
Cyber attacks cost $US315 billion in year: report
28 September 2015
The global cost of cyber attacks over the past year is estimated at $US315 billion, according to a report from financial consultants Grant Thornton…
S&P cuts ratings on Japanese insurers
28 September 2015
Standard & Poor’s has downgraded its ratings on 10 Japanese insurers, including some foreign subsidiaries…
London brokers commit to Ebix-backed platform
28 September 2015
A group of London broking companies that account for more than 80% of business placed in the city’s market have committed to placing insurance deals electronically on a platform powered by Ebix…
Fitch warns on ILS, questions reinsurers’ rates optimism
28 September 2015
The rise of insurance-linked securities and other forms of alternative capital remains bad news for the reinsurance sector, according to Fitch Ratings…
Bermudan ILS deals set Q2 record
28 September 2015
A record number of insurance-linked securities were issued in the second quarter, according to the Bermuda Monetary Authority…
Marsh plots a course through southeast Asian haze
28 September 2015
Southeast Asian businesses are ill-prepared to deal with the current haze crisis caused by Indonesian forest fires, Marsh Risk Consulting warns…
Reinsurance rates to stay flat, Swiss Re says
21 September 2015
Reinsurers face another tough year, with competition and abundant capital continuing to dampen premium rates, according to Swiss Re Chief Economist Kurt Karl…