UK terror pool secures £1.8 billion reinsurance
09 March 2015
The UK’s terrorism pool has bought reinsurance cover in the commercial market for the first time…
International
Bermudian catastrophe bond issues continue to climb
09 March 2015
Bermuda recorded a 20% increase in insurance-linked securities issues last year…
Hyperion-RK Harrison merger proceeds
09 March 2015
London’s Hyperion Insurance Group and RK Harrison expect to merge in the second quarter after both companies’ shareholders approved the deal…
Lloyd’s on notice as M&A rush creates new competitors
09 March 2015
Continued merger and acquisition activity in the (re)insurance sector – creating huge entities and smaller competitors with newly acquired global scale – may pose a risk to Lloyd’s, according to Fitch Ratings…
Berkshire Hathaway insurance income tumbles
09 March 2015
Berkshire Hathaway’s pre-tax underwriting income fell 13.6% to $US2.67 billion last year, weighed down by mixed results from its insurance units…
Cat losses fail to dent Liberty Mutual profit
09 March 2015
Liberty Mutual has posted a 5% increase in profit to $US1.83 billion for last year…
Scor P&C operation lifts GWP
09 March 2015
Scor’s global property and casualty division increased gross written premium by 2.7% to €4.94 billion last year…
Hiscox defies ‘tough conditions’
09 March 2015
Bermuda-based Hiscox says gross written premium grew 3.3% to £1.75 billion last year, thanks to premium growth in the US and record profits in the UK and Europe…
Amlin profit falls on lower returns, reserve releases
09 March 2015
Reinsurer and Lloyd’s underwriter Amlin recorded a 21% drop in net profit to £236.4 million last year due to lower reserve releases and a fall in investment returns…
UK insurers warned over fossil fuel investments
09 March 2015
The UK’s Prudential Regulation Authority warns insurers they could get burned by investing in fossil fuels…
Reinsurers face stark choices in weak market: AM Best
02 March 2015
With mergers and acquisitions expected to be the hallmark of another tough year for the global reinsurance industry, a report from AM Best warns one company’s survival strategy may be another’s sudden death…
Risk committees key to corporate success: RIMS
02 March 2015
Risk committees are essential if companies are serious about protecting their assets, the Risk and Insurance Management Society says in a new report…
Global losses hit five-year low
02 March 2015
Insured global losses fell to their lowest level since 2009 last year, according to the Guy Carpenter Global Catastrophe Review…
Berkshire Hathaway appoints Asia execs
02 March 2015
Berkshire Hathaway Specialty Insurance has announced two appointments to its Asian underwriting team…
UK insurer fined for cyber breach
02 March 2015
A British online travel insurer has been fined £175,000 ($344,073) after security failings allowed hackers to access private records…
Tokio Marine sustains rating after Japanese downgrade
02 March 2015
Moody’s has rated Tokio Marine & Nichido Fire Insurance Aa3 for insurance financial strength, making it the only financial institution in Japan to top the country’s sovereign rating of A1…
Ironshore appoints Asia-Pacific MD
02 March 2015
Ironshore International has hired industry veteran Hui Yun Boo to be MD Asia-Pacific and Principal Officer based in Singapore…
Allianz braces for ‘challenging’ year ahead
02 March 2015
Allianz Group has posted a 3.8% rise in net profit to €6.2 billion ($8.9 billion) for last year, as revenue topped €120 billion ($172.7 billion) for the first time…
FM Global profit dips, but CEO upbeat
02 March 2015
US commercial property insurer FM Global has reported a net profit of $US956.4 million ($1.2 billion) for last year, down 6.2% on 2013…
Productivity gains lift Xchanging earnings
02 March 2015
Xchanging has posted an operating profit of £55.8 million ($110.3 million) for last year, up 21.5% compared with 2013…