British insurers ‘must prove’ fraud suspicions
26 May 2014
The UK’s Financial Ombudsman Service has warned insurers they must be able to prove fraud, and should not find other ways to reject claims…
International
El Nino may suppress Atlantic hurricanes
26 May 2014
Atlantic hurricane activity may be suppressed this season by an El Nino event, according to the National Oceanic and Atmospheric Administration…
Zurich first-quarter profits soar
19 May 2014
Swiss insurer Zurich has reported first-quarter net income of $US1.27 billion ($1.36 billion), up 20% compared with the corresponding period last year…
Bermuda insurers keep their place in the sun
19 May 2014
Bermudian insurers and reinsurers reported strong earnings in 2013 despite increasing competition, low investment yields and a skittish global economy…
Former Lloyd’s chief to guide loss adjuster
19 May 2014
Global loss adjuster Cunningham Lindsey has appointed former Lloyd’s CEO Richard Ward as Executive Chairman of the board, effective from June 9…
Benmosche to retire as AIG completes asset sales
19 May 2014
AIG CEO Robert Benmosche, who oversaw much of the company’s recovery from the global financial crisis, intends to leave the post next year…
Catlin reports first-quarter premium growth
19 May 2014
International insurer and reinsurer Catlin has reported first-quarter gross written premium of $US2.01 billion ($2.14 billion) – up 9% on the corresponding period last year…
UK regulation most expensive, says BIBA
19 May 2014
UK brokers are stung by the most expensive regulatory regime in the world, according to research by the British Insurance Brokers’ Association…
Brokers will survive distribution revolution: Swiss Re
19 May 2014
Digital technology is transforming insurance distribution, but this does not spell the end for insurance intermediaries, according to Swiss Re…
BIBA launches consultation, calls for ‘gold standard’
19 May 2014
The British Insurance Brokers’ Association has launched its member consultation on improvements to industry standards…
Climate change now part of cat models: Lloyd’s
12 May 2014
Severe storms in Europe could quadruple in number and flood risks may triple by 2080, according to new climate change scenarios outlined in a Lloyd’s report…
Marsh reports drop in global property rates
12 May 2014
Strong competition, excess capacity and a lack of major events led to a first-quarter drop in property insurance rates worldwide, according to Marsh…
Insurers more prepared to take on new risks: survey
12 May 2014
The world’s leading insurance companies are prepared to increase their risk to combat low yields…
US tornadoes caused massive damage, while Ita didn’t
12 May 2014
Sixty-nine tornadoes and flash floods which killed 39 people and injured 250 across 20 states in the US in April are likely to lead to hundreds of millions of dollars in insured losses…
AIG profit drops as catastrophes rise
12 May 2014
Giant US-based global insurer AIG’s profit fell 27% to $US1.61 billion ($1.72 billion) in the first quarter on increased catastrophe losses and lower insurance investment income…
Competition dents Munich Re profit
12 May 2014
Munich Re’s first-quarter profit fell 4.7% to €924 million ($1.36 billion) amid lower premium income, strong reinsurance competition and higher catastrophe losses…
Swiss Re ‘on track’ despite earnings slide
12 May 2014
Swiss Re’s first-quarter earnings slipped 11% as property and casualty income offset a fall in profit from the life and health division…
Malaysian airliner is only major loss, Hannover Re says
12 May 2014
German reinsurer Hannover Re has recorded first-quarter net income of €233 million ($347 million), up 0.7% on the corresponding period last year…
Allianz posts Q1 revenue record
12 May 2014
Allianz says net profit fell 4% to €1.64 billion ($2.43 billion) in the first quarter, but revenue set a quarterly record for the company…
Healthy renewals lift Scor Re
12 May 2014
Strong January and April renewals helped Scor Re increase profit by 22% to €135 million ($200.31 million) in the three months to March 31…