Drought losses to top $US8 billion: Aon Benfield
07 September 2015
Global economic losses from drought will surpass current estimates of $US8 billion as El Nino continues to strengthen, Impact Forecasting warns…
International
Zurich general insurance chief resigns
07 September 2015
Zurich Insurance Group’s CEO of General Insurance Mike Kerner is to step down for personal reasons, the insurer has announced…
Underwriter discipline ‘under pressure’, Lloyd’s warns
07 September 2015
International casualty reinsurance underwriters fear softening terms and conditions will prove unsustainable, a survey by the Lloyd’s Market Association reveals…
Equity firm buys Innovation Group
07 September 2015
UK-listed claims technology company Innovation Group has approved a £499 million takeover offer from private equity firm Carlyle Group…
Cyber dominates risk landscape: RIMS
31 August 2015
Cyber crime eclipses all other global risks, according to the President of the US-based Risk and Insurance Management Society…
China slowdown will hit insurance industry: Munich Re
31 August 2015
China’s growth slump is no cause for panic but it is a concern, and the insurance industry will not escape unscathed, Munich Re Chief Economist Michael Menhart says…
Zurich makes provisional offer of $12 billion for RSA
31 August 2015
Zurich Insurance Group has made a provisional acquisition offer of £5.6 billion to UK-based RSA Insurance Group…
UK reform forces Lloyd’s wordings review
31 August 2015
The Lloyd’s Market Association has completed an initial wordings review in light of the new UK Insurance Act, which takes effect in August next year…
Asian governments react to catastrophe cover gap: Fitch
31 August 2015
Asia has been “severely under-protected” in terms of catastrophe insurance, and governments are now setting up natural disaster pools to improve loss management, Fitch Ratings says…
Crawford & Co chief leaves after poor quarter
31 August 2015
Jeffrey Bowman has stepped down as CEO of global loss adjuster Crawford & Company after almost eight years in the role and more than 24 years with the business…
Reinsurers’ plunging yields are GFC ‘collateral damage’
31 August 2015
The net investment yield for reinsurers has fallen 30% over the past four years, a report by Standard & Poor’s reveals…
Reinsurance sector set for more consolidation: Fitch
31 August 2015
The wave of mergers and acquisitions among reinsurers is expected to continue as they seek ways to trump rivals and build growth prospects, according to Fitch Ratings…
Accounting change hits Amlin’s first-half net profit
31 August 2015
Lloyd’s insurer and reinsurer Amlin says net profit fell 2.4% to £132.8 million in the half-year to June 30 due to an accounting change…
Expansion boosts Charles Taylor profit
31 August 2015
Charles Taylor Adjusting says first-half net profit grew 22% to £4.5 million, driven by international expansion…
Insurance bill from Tianjin blasts may pass $2 billion
24 August 2015
Insured losses from two huge explosions in the Chinese port city of Tianjin are likely to exceed about $US1.5 billion, Fitch Ratings says…
S&P tips cat bond market for further growth
24 August 2015
The catastrophe bond market will continue to grow by 10-20% a year, driven by an increase in covered perils, broadening of event definitions and demand from governments, according to Standard & Poor’s…
10 years after Katrina, New Orleans is stronger
24 August 2015
New Orleans, the US city devastated by Hurricane Katrina 10 years ago this week, is now much more capable of withstanding future windstorms, according to reports from Allianz and Munich Re…
Ebix directors endorse second share buyback
24 August 2015
Ebix’s board has approved another share buyback program worth $US100 million, following one for the same amount announced last year…
Drones sector poses risks for insurers: Lloyd’s
24 August 2015
The drone aircraft sector is expanding rapidly within global aviation, with spending expected to double to $US91 billion by 2024, according to a report from Lloyd’s…
Efficiency drive turns around Achmea result
24 August 2015
Dutch insurance group Achmea has reported a net profit of €272 million for the first half, reversing a €58 million loss in the corresponding period last year…