Higher profit for Munich Re but pricing pressure continues
10 February 2014
Munich Re exceeded profit expectations last calendar year, but warns it expects soft pricing to continue at the July renewals…
International
XL Group profits soar
10 February 2014
Dublin-based XL Group reported net income of $US1.06 billion ($1.2 billion) last year, up 63% on 2012…
Axis annual profit gains after fewer catastrophes
10 February 2014
Bermuda-based Axis Capital Holdings has reported a rise in annual net profit after benign weather contributed to a stronger fourth quarter…
Berkley upbeat after profit increase
10 February 2014
WR Berkley Chairman Bill Berkley has forecast an “excellent year” ahead, after the company delivered a 15% profit increase to $US430.17 million ($395.66 million) last year…
Beazley lifts profit amid fewer catastrophes
10 February 2014
Specialist insurer Beazley increased profit by 23% to $US264 million ($294.71 million) last year, but says Australian operations contributed to a loss in its life, accident and health division…
Renewals deliver adequate margins: Hannover Re
10 February 2014
Hannover Re says it is satisfied with the January treaty renewals, despite weaker rates and a 2% contraction in volumes amid a more competitive climate…
Size matters at renewals, says Scor
10 February 2014
The reinsurance market is splitting into tiers, with the top five to 15 companies benefitting from their size and diversification, according to French reinsurer Scor…
US storms cause $US1.5 billion of losses
10 February 2014
Winter storms in the US caused more than $US1.5 billion ($1.67 billion) of losses last month, according to Impact Forecasting’s January Global Catastrophe Recap…
Farm Bill boosts US crop cover scheme
10 February 2014
The US crop insurance program provided by private insurers and backed by the Federal Government will be expanded following the passage of the US Farm Bill last week…
US commercial rates steady, as personal lines fall
10 February 2014
Rates for US commercial lines increased 3% last month, with analyst MarketScout blaming additional capacity, insurance-linked securities and a more stable economy for the moderate pricing environment…
Brit may return to stockmarket
10 February 2014
Brit Insurance has appointed UBS and JPMorgan to advise on a possible initial public offering (IPO), according to UK media reports…
‘Heady cocktail’ drives down reinsurance renewal rates
03 February 2014
Overcapacity, reduced demand and fewer catastrophes have contributed to a decline in January reinsurance renewal rates…
Catlin branches out in Singapore
03 February 2014
UK-based insurer Catlin has opened a branch office in Singapore that will allow it to write business outside the Lloyd’s market…
Olympics and World Cup hosts face terror threat
03 February 2014
Brazil’s terrorism risk rating has increased from medium to severe in the lead-up to this year’s soccer World Cup, while Winter Olympics host Russia is also a potential target…
Europe, Asia dominate natural catastrophe losses
03 February 2014
Natural catastrophe losses fell last year and were skewed towards Europe and Asia rather than the US, with Germany registering the costliest insurance event…
BIBA unveils manifesto, price index
03 February 2014
The British Insurance Brokers’ Association has launched this year’s manifesto focusing on such key issues as access to insurance, a better regulatory system and improving public understanding…
Broker standards council launches in Britain
03 February 2014
The launch of a new broker standards group in the UK has drawn a swift response from established organisations such as the British Insurance Brokers’ Association…
Risk management has arrived: RIMS chief
03 February 2014
New Risk and Insurance Management Society President Carolyn Snow has predicted a profitable future for her industry…
UK flood subsidy pool faces delay
03 February 2014
Britain’s flood pool may not be ready to begin operations at its proposed start date of June next year, according to UK media reports…
QBE to send UK jobs overseas
03 February 2014
QBE is to reduce its UK workforce by offering redundancies and sending some jobs to the Philippines…