Aon reports ‘solid’ Q2
29 July 2013
Aon has reported net income of $US241 million ($259.89 million) for the second quarter, down from $US247 million ($266.36 million) in the second quarter of last year…
International
Willis net income falls in first half
29 July 2013
International broker Willis has posted a 2.7% drop in first-half earnings, as increased expenses offset rising commissions and fees…
Ace first-half earnings soar
29 July 2013
Ace Insurance has reported a 41.7% rise in first-half earnings, driven by its accident underwriting results and strong growth in North America, Asia and Latin America…
Chubb increases forecast after strong half
29 July 2013
US-based global insurer Chubb has raised its earnings forecast after first-half profit grew 33% on the corresponding period last year…
WR Berkley rates rise in second quarter
29 July 2013
WR Berkley has reported a 4.7% drop in profit for the six months to June 30, amid lower investment returns…
Arch rates rise in second quarter
29 July 2013
Arch Capital has reported a 17% rise in net profit to $US422.45 million ($455.95 million) for the six months to June 30, with its insurance arm recording increases in rates and new business…
Beazley profits slump as investments fall flat
29 July 2013
Ireland-based insurer Beazley says profits fell almost 28% in the six months to June 30 as its investment portfolio failed to deliver…
US P&C price growth slows
29 July 2013
US commercial property and casualty prices continued to rise in the second quarter, but at a slower rate than previously…
UK regulator aims to raise competition
29 July 2013
Britain’s new Financial Conduct Authority says it will push for effective competition by examining whether consumers can influence markets…
Globally significant insurers ‘must hold more capital’
22 July 2013
The Financial Stability Board has released a list of nine “systemically important” global insurers that could be forced to hold extra capital in a bid to avoid a repeat of the 2008 financial crisis…
Natural disasters are ‘biggest banana skin’
22 July 2013
Natural catastrophes and regulation are the biggest worries for non-life insurers, according to this year’s Insurance Banana Skins survey…
Hartwig hails capital growth amid high catastrophe claims
22 July 2013
US property and casualty insurers are “extremely well capitalised” and likely to remain that way, according to Insurance Information Institute President Robert Hartwig…
Insurers face far-reaching change, State Street says
22 July 2013
Post-financial crisis regulatory reforms, distribution challenges and diminishing investment returns are transforming the insurance industry, according to a survey for US business consultant State Street…
FCA fines insurer $12 million over ‘add-on’ cover
22 July 2013
The UK Financial Conduct Authority has fined Swinton Group £7.38 million ($12.13 million) for mis-selling “add-on” insurance policies…
QBE North America appoints CFO, ex-UK chairman moves on
22 July 2013
QBE North America has appointed Richard Dziadzio as CFO, while the company’s former UK and Ireland chairman Ray Cox has joined Ecclesiastical…
Low rates force Europeans to change investment strategies
22 July 2013
European insurers are increasingly investing in illiquid asset classes such as private loans, as they try to raise investment returns amid low interest rates and heightened regulation, according to Moody’s…
Zurich Insurance ratings affirmed
22 July 2013
Moody’s Investors Service has affirmed its ratings on Zurich Insurance, based on the company’s strong market position in a range of countries and its business and geographic diversification…
PPI drives huge rise in complaints to UK ombudsman
22 July 2013
The UK’s Financial Ombudsman Service received 159,197 complaints in the three months to June 30, up 179% on the corresponding period last year…
Cost of risk rising, RIMS says
15 July 2013
Hard market conditions forced up the cost of risk last year, according to the Risk and Insurance Management Society Benchmark Survey…
FCA launches ‘add-on’ insurance probe in UK
15 July 2013
The UK’s Financial Conduct Authority will hold a review into insurance “add-on” products that are often sold with holidays, cars and gadgets…