Japanese snowstorms drive February payouts
10 March 2014
Deadly snowstorms in Japan have caused insured losses of about $US585 million, according to Impact Forecasting’s Global Catastrophe Recap for last month…
International
Willis Re chief flags risks for smaller reinsurers
10 March 2014
Traditional reinsurers must be wary of diversifying to survive amid fierce competition, Willis Re President Paddy Jago warns…
Gallagher appoints Australian to run Asia hub
10 March 2014
Arthur J Gallagher has set up an Asian hub and moved Australian executive Dick Heath from Sydney to Singapore to run it…
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…
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…