PPI drives caseload record at UK FOS
10 March 2014
The number of new complaints to the UK’s Financial Ombudsman Service grew 38% to a record high of 575,836 last year…
International
Scor P&C records strong year
10 March 2014
Scor’s global property and casualty gross written premium grew 8.3% to €4.8 billion last year.
FM Global raises net income by 32%
10 March 2014
US-based business property insurer FM Global recorded a 32% rise in net profit to $US1.02 billion last year.
US commercial rates moderate, outlook weak
10 March 2014
US commercial line rate gains moderated to 2% last month, and the market may start to decline later this year because of capital availability, according to analyst MarketScout…
LMA aids drones study
10 March 2014
The Lloyd’s Market Association is contributing to a European Commission study on third-party liability and insurance relating to the use of drones…
Brit Group plans London listing
10 March 2014
Specialty insurer Brit Group plans to list on the London Stock Exchange with an initial public offering next month…
Allianz global profit up but challenging year ahead
03 March 2014
German global insurer increased profit by 15% to €6 billion ($9.17 billion) in 2013, but CEO Michael Diekmann has flagged a challenging industry environment this year…
Insurance-linked securities hit record high
03 March 2014
Global outstanding insurance-linked securities reached a historic high of $US21 billion ($23.4 billion) at the end of last year after $US1.9 billion ($2.1 billion) in bonds was issued…
Liberty Mutual doubles profit
03 March 2014
US-based Liberty Mutual Insurance has reported net income of $US1.74 billion ($1.94 billion) for last year, up 110% on 2012…
Economy needs terror coverage scheme, RIMS warns
03 March 2014
The Risk and Insurance Management Society has told a US Senate committee that extension of the Terrorism Risk Insurance Act is vital…
Americas drives Crawford & Co growth
03 March 2014
Loss adjuster Crawford & Co says profit grew 4.29% to $US51 million ($57.13 million) last year, driven by “substantial” growth in the Americas…
Lloyd’s to review claims systems
03 March 2014
The Lloyd’s Market Association is to review claims management processes…
Swiss Re earnings rise on lower catastrophe bill
24 February 2014
Swiss Re earnings grew 5.8% to $US4.4 billion ($4.9 billion) last year, aided by low natural catastrophe losses and reserve releases…
Casualty capital may be game-changer: Willis Re
24 February 2014
New capital pouring into the casualty reinsurance market is “a possible game-changer in long-tail lines”, Willis Re Global Head of Casualty Andrew Newman says…
UK insurers meet Government over floods
24 February 2014
Monthly meetings between insurers and the UK Government will be held to aid the response to devastating winter floods…
Quake insurers urged to focus on clients
24 February 2014
Insurers are often overly influenced by strategic portfolio implications when making decisions on earthquake claims, according to a Marsh study…
Economic upturn lifts Tokio Marine
24 February 2014
Tokio Marine Holdings says economic recovery in the US and Japan contributed to a 72% increase in profit to ¥150.27 billion ($1.63 billion) for the nine months to December 31…
Amlin and Oxford Uni probe modelling risk
17 February 2014
Insurer Amlin and Oxford University have launched a three-year research project focusing on the systemic risks of modelling…
Cat losses fall short of decade average
17 February 2014
Last year delivered some respite from natural catastrophes and man-made disasters, with losses estimated at $US40 billion ($44.46 billion), according to Guy Carpenter’s Catastrophe Review…
Marsh, Guy Carpenter increase revenues
17 February 2014
Marsh & McLennan’s net profit gained 15% to $US1.36 billion ($1.5 billion) last year as insurance revenue grew and Guy Carpenter posted a strong final quarter…