US senators take ‘first step’ towards TRIA renewal
28 April 2014
The Risk and Insurance Management Society has praised a bipartisan group of US senators for introducing a bill to extend the Terrorism Risk Insurance Act…
International
Aon profit jumps in first quarter
28 April 2014
Global broker Aon’s first-quarter net profit grew 25% to $US325 million (350 million) on a strong performance from its insurance and reinsurance broking operations…
Harsh winter chills Chubb
28 April 2014
Severe winter weather in the US has cut Chubb’s first-quarter earnings by 32% to $US449 million ($484 million)…
Underwriting result lifts WR Berkley profit
28 April 2014
WR Berkley has reported an “excellent” first quarter, with profit up 45% to $US169.67 million ($182.50 million) on improved underwriting results and investment income…
Multinational insurers pass interest rate stress test
28 April 2014
Global multiline insurers are well placed to withstand sharp swings in interest rates, according to a Standard & Poor’s analysis of 15 companies…
Global reinsurance outlook remains negative: Fitch
28 April 2014
Fitch has reiterated its negative outlook for the global reinsurance sector, as declining premiums and weaker conditions across a range of lines offset lower catastrophe losses last year…
UK brokers applaud levy cut
28 April 2014
The British Insurance Brokers’ Association has welcomed a reduction in the controversial Financial Services Compensation Scheme levy on general insurance intermediaries…
American P&C profits grow 81%
28 April 2014
US property and casualty insurers’ profits soared last year to their highest level since the global financial crisis, driven by lower catastrophe losses and premium growth…
Cool heads needed as reinsurers face pressure
14 April 2014
Ratings agency AM Best expects to re-evaluate its stable outlook for global reinsurers after the mid-year renewal season, as competition increases…
Gallagher earnings rise amid acquisitions
14 April 2014
Arthur J Gallagher says first-quarter profit grew 21.7% to $US49.3 million as the broking division powered an “excellent start” to the year…
Q1 nat cat losses top $7 billion
14 April 2014
Natural disasters caused insured losses of $US7 billion in the first quarter of this year, as about 70 events hit worldwide, according to Impact Forecasting…
Insurance-linked securities draw new investors
14 April 2014
Money managers and mutual funds are moving into insurance-linked securities (ILS) investments, meaning the market will continue to add new reinsurance capacity…
Political risk rises in emerging nations
14 April 2014
The emerging markets of Brazil, Russia, India, China and South Africa face increased political risk, according to Aon Risk Solutions…
Reinsurer capital hits record high
14 April 2014
Reinsurers’ profitability improved last year and their capital holdings reached a record high as pension funds and other investors entered the catastrophe bond market…
ABI supports wider Flood Re coverage
14 April 2014
The Association of British Insurers wants higher-value homes included in the UK Government’s Flood Re plan for affordable cover…
Commercial rates post steady gains
14 April 2014
US commercial insurance rates increased 3% last month, compared with a 2% gain in February, extending a pattern of slow but steady increases, according to analyst MarketScout…
April 1 renewal rates soften further
07 April 2014
Prices continued to fall at the April 1 reinsurance renewals, driven by continued demand for catastrophe bonds and new capital providers’ entry to the US market, according to Willis Re…
World ‘not prepared’ for climate change
07 April 2014
The latest Intergovernmental Panel on Climate Change report says the effects of global warming can already be seen, and the world is “ill-prepared”…
European floods show value of mitigation: Munich Re
07 April 2014
Last year’s devastating floods in Western Europe have shown how mitigation can reduce losses, according to Munich Re…
Most Californians uninsured against quake
07 April 2014
Nearly 90% of Californian homeowners were without earthquake insurance when a 5.1-magnitude tremor struck on March 28, according to state authorities…