RGA returns to profit
28 July 2014
Reinsurance Group of America (RGA) has reported a net profit of $US198.3 million ($210.1 million) for the second quarter, compared with a net loss of $US49.6 million ($52.6 million)…
International
Comparison sites failing consumers: UK regulator
21 July 2014
UK price comparison websites fail to meet consumer expectations and in some cases fall short of regulatory standards, the Financial Conduct Authority warns…
Allianz lead insurer for ill-fated flight
21 July 2014
Allianz is the lead insurer for the Malaysia Airlines jet shot down last week over eastern Ukraine, killing all 298 people on board…
TRIA extension passes Senate
21 July 2014
Industry groups have welcomed the US Senate’s support for a seven-year renewal of the Terrorism Risk Insurance Act…
Overcapacity creates buyers’ market
21 July 2014
Overcapacity in the international construction, property and casualty markets this year has prompted rate reductions of up to 30% for commercial insurance buyers, according to a Willis report…
Ironshore opens in Hong Kong
21 July 2014
Ironshore International has opened a Hong Kong office to increase its presence in the Asia-Pacific region…
UK insurers urge transparency on two-tier pricing
21 July 2014
The Association of British Insurers says explanations of introductory price offers should be included on policy documents, to improve clarity for new customers…
UK moves to update commercial insurance laws
21 July 2014
The UK Treasury has announced reforms to modernise commercial insurance laws and reduce legal disputes over business claims…
Cyber attacks on the increase
21 July 2014
The number of US organisations to publicly disclose cyber attacks and data breaches grew to 614 last year from 449 in 2012, according to the Insurance Information Institute…
Digital slander and concussions emerge as risks
14 July 2014
Cloud computing, deflation, digital slander and concussions in sport are among emerging risks featured in a new Swiss Re report…
Natural catastrophe losses fall below average
14 July 2014
Global natural catastrophe claims were “pleasingly low” in the first half of the year, according to a Munich Re report…
Reinsurance prices drop at July renewals
14 July 2014
Abundant reinsurance capital and minimal losses led to prices dropping across almost all lines and regions at the July 1 renewals…
Catastrophe bond yields take a hit
14 July 2014
Returns on catastrophe bonds are falling as more investors enter the market and supply outstrips demand…
Catastrophe bond issuance hits record high
14 July 2014
Investors continued pouring into the reinsurance market in the second quarter, with a record volume of non-life catastrophe bonds issued…
Commercial rates ‘adjust down’
14 July 2014
Growth in US commercial rate slowed to 2% last month, compared with 3% in May, according to analyst MarketScout…
Costa Concordia salvage costs give insurers sinking feeling
14 July 2014
The massive operation to refloat and remove the stricken cruise liner Costa Concordia, which sank off the coast of Italy in January 2012, will end up costing more than $US2 billion…
FM Global makes changes at the top
14 July 2014
US-based mutual insurer FM Global has reshuffled its executive management team, with Thomas Lawson to take over from Shivan Subramaniam when he retires from…
Mid-year reinsurance renewals tumble
07 July 2014
Reinsurance rates slumped at the June and July renewals, and weak market conditions may persist into next year, according to Willis Re…
Marsh & McLennan tops broker chart
07 July 2014
Marsh & McLennan is the world’s biggest insurance broker by revenue for the fifth consecutive year, according to AM Best’s annual top 20…
Swiss Re vows to hit targets
07 July 2014
Swiss Re remains “fully committed” to its 2011-15 financial targets after three years of strong performance, Group CEO Michel Liès says…