IMF criticises US insurance regulation framework
27 April 2015
Insurance regulation in the US remains complex and fragmented despite recent reforms, according to an International Monetary Fund report…
International
Ace reports fall in Q1 profit
27 April 2015
Global insurer Ace recorded net income of $US681 million ($877 million) for the first quarter, down 7.2% on the corresponding period last year…
Winter chill hits Chubb earnings
27 April 2015
US insurer Chubb says recent cold weather is to blame for a 16.5% plunge in first-quarter net profit…
Allied World net income falls
27 April 2015
Swiss-based insurer and reinsurer Allied World has reported a 29% drop in net income to $US124.4 million ($159.92 million) for the first quarter of this year, due mainly to lower reinsurance earnings…
Acquisitions lift Cooper Gay result
27 April 2015
Global wholesale and reinsurance broker Cooper Gay Swett & Crawford says fee and commission revenue grew 13.4% to $US387 million ($499 million) last year…
Reinsurance M&A hots up as Exor counterbids for PartnerRe
20 April 2015
Italian company Exor has stirred up corporate activity in the reinsurance world with a takeover bid for reinsurer PartnerRe, which in January announced plans to merge with Axis Capital…
Climate change pledges ‘not enough’
20 April 2015
Emissions pledges from the US, EU and China in the run-up to December’s World Climate Conference in Paris have fallen short, according to Munich Re…
NAB-owned UK bank fined over PPI scandal
20 April 2015
The UK’s Financial Conduct Authority has fined Clydesdale Bank a record £20.67 million ($39.62 million) over failures in its handling of payment protection insurance complaints…
Aon reveals Q1 insurance-linked securities record
20 April 2015
Aon Benfield Securities, the investment banking division of global reinsurance intermediary Aon Benfield, says first-quarter catastrophe bond issuance was the highest in the history of the insurance-linked securities sector…
Marine losses falling: IUMI
20 April 2015
Hull losses are decreasing for most types of vessel, according to the latest International Union of Marine Insurance statistics…
AM Best sets up Singapore office
20 April 2015
AM Best has opened an office in Singapore as part of its Asia-Pacific growth in the lead-up to creation of the Association of Southeast Asian Nations single market…
Forecasters tip mild Atlantic hurricane season
20 April 2015
US meteorologists have forecast a “well below average” Atlantic hurricane season from June to November…
Reinsurance market bows to ‘extreme strain’
13 April 2015
Reinsurance market conditions remain in buyers’ favour as the industry cycle continues to come under “extreme strain”, according to Willis Re’s latest First View renewals report…
Catastrophe pool pays out on Vanuatu cyclone
13 April 2015
A pilot catastrophe pool for Pacific island nations has paid Vanuatu $US1.9 million ($2.49 million) for losses incurred during Cyclone Pam last month…
Reinsurers warned over reliance on ‘unsustainable factors’
13 April 2015
Reinsurers maintained profits last year despite declining rates, but Aon Benfield has flagged danger signals for the industry…
European windstorm losses likely to top $US1 billion
13 April 2015
Economic and insured losses from windstorms Mike and Niklas, which swept across Europe at the end of last month, are expected to pass $US1 billion ($1.3 billion), according to Impact Forecasting’s March global catastrophe report…
Reinsurer consolidation to continue: Moody’s
13 April 2015
Mergers and acquisitions will accelerate as the operating environment for reinsurers continues to deteriorate, according to Moody’s…
US commercial rates fall flat
13 April 2015
The composite rate for US property and casualty insurance was flat last month compared with the corresponding period last year, according to analyst MarketScout…
Insurers set $390 million reserve for Germanwings crash
13 April 2015
Allianz Global Corporate & Specialty, the lead insurer for the crashed Germanwings plane, says $US300 million ($390 million) of reserves have been set aside to settle claims…
Lloyd’s makes $6 billion profit in difficult market
30 March 2015
Lloyd’s has reported pre-tax profit for last year of £3.16 billion, against a backdrop of low interest rates and a softening market…