Risky growth strategies ‘astound’ Munich Re chief
11 August 2014
Munich Re warns the low-rate party will come to an end some time, and insurers may regret some of the risks they have taken on…
International
Swiss Re hails ‘impressive’ profit
11 August 2014
Swiss Re has reported net income of $US2.03 billion ($2.19 billion) for the first half, down 6.5% on the corresponding period last year…
Results defy soft market, Hannover Re says
11 August 2014
Hannover Re says it is “well on track” to achieve its calendar-year profit target of €850 million ($1.2 billion), despite soft market conditions…
Marsh Asia-Pacific builds revenue
04 August 2014
Marsh & McLennan says second-quarter profit grew 11% to $US431 million ($460.5 million) as revenues increased at its insurance and consulting divisions…
Willis result a ‘good indicator’ of future growth
04 August 2014
Willis Group says second-quarter revenue grew 5.1% to $US935 million ($998.9 million), with commissions and fees up 4.5%…
Acquisitions drive bumper quarter for Gallagher
04 August 2014
Arthur J Gallagher has reported revenue of $US1.18 billion ($1.27 billion) for the second quarter, up from $US779.5 million ($837.4 million) in the corresponding period last year…
Total cost of risk continues to rise
04 August 2014
The total cost of risk – the cost of insurance and financing methods – was up 2% last year compared with 2012, reflecting a hardening market, according to the Risk and Insurance Management Society…
Berkshire sits out soft market
04 August 2014
Berkshire Hathaway Reinsurance has reined in its catastrophe and individual risk business because of the soft market…
Subsidiary sale pushes XL Group into loss
04 August 2014
XL Group has posted a $US279.3 million ($300.24 million) net loss for the second quarter, following a $US621.3 million ($667.87 million) loss on the sale of its life reinsurance unit…
WR Berkley hails Q2 growth
04 August 2014
US-based insurer WR Berkley has posted second-quarter net income of $US180 million ($193 million), up 55% on the corresponding period last year…
Underwriting gains lift Arch profit
04 August 2014
Arch Capital Group says second-quarter profit grew 18% to $US202.5 million ($217.3 million), driven by lower catastrophes and gains in underwriting income from casualty…
Xchanging posts 15% profit fall
04 August 2014
UK-based insurance outsourcing company Xchanging has reported a 15% fall in adjusted operating profit to £20 million ($36.31 million) for the first half of this year, due to…
Flood Re regulations ‘unworkable’, UK insurers warn
28 July 2014
The Association of British Insurers has criticised the proposed financial management of the Government’s flood insurance pool, as consultation on draft regulations begins…
Liberty adds $US6.5 billion to reinsurance cover
28 July 2014
Liberty Mutual has paid $US3 billion ($3.2 billion) to Berkshire Hathaway to increase its reinsurance cover by $US6.5 billion ($6.9 billion)…
First-half disaster losses fall below average
28 July 2014
Aon Benfield subsidiary Impact Forecasting says first-half global economic and insured disaster losses were well below average – but it warns the worst could lie ahead…
Aon Q2 profits rise
28 July 2014
Aon has reported an increase in second-quarter profits, despite falling reinsurance revenue…
Ace profit dips in second quarter
28 July 2014
Ace says second-quarter net profit fell 12.5% to $US779 million ($826 million) on weaker earnings in its North American agriculture and global reinsurance divisions…
Catastrophes dent Chubb result
28 July 2014
Chubb says its premium income increased in the second quarter, but higher catastrophe losses triggered a 14% drop in profit to $US499 million ($530.89 million)…
Allied doubles up on profits
28 July 2014
Global insurer and reinsurer Allied World has reported first-half net income of $US329 million ($350 million), more than double the $US157 million ($167 million) it posted…
US recovery lifts Beazley profit
28 July 2014
A stronger US economy and a turnaround in Australia have helped Dublin-based Beazley post a 58% rise in profit to $US114.1 million ($121.13 million) for the six months to June 30…