Chinese insurer buys Lloyd’s building
15 April 2013
The freehold on the famous Lloyd’s of London building has been sold to Chinese insurer Ping An…
International
Bank sells Macau business to QBE
15 April 2013
HSBC will sell its general insurance business in Macau to QBE, with the deal expected to be finalised in the first half of this year…
US commercial rates rise 5%, personal lines up 4% in March
15 April 2013
US commercial and personal lines rates are hardening, with commercial rates up 5% last month, according to information exchange MarketScout…
Last year was third-worst for losses: Swiss Re
08 April 2013
Natural catastrophes and man-made disasters caused economic losses of $US186 billion ($177.91 billion) last year, according to Swiss Re’s latest Sigma study…
Lloyd’s bounces back from 2011 profit plunge
08 April 2013
Lloyd’s has shaken off its 2011 performance to bounce back strongly with a pre-tax profit of £2.77 billion ($4.04 billion) for the year to December 31, 2012…
Sandy no-blow for reinsurers as prices fall
08 April 2013
The reinsurance industry has shrugged off its losses from Superstorm Sandy, with pricing at the Japanese April 1 renewals flat or down across all business lines, Willis Re says…
FSA fines Prudential for hiding AIG deal
08 April 2013
Prudential has been fined £30 million ($43.8 million) and for failing to tell the UK Financial Services Authority of its bid to buy AIG’s Asian life insurance business…
Late European winter causes $1.7 billion of damage
08 April 2013
March was an expensive month for Europe as wintry weather contributed to economic losses of €1.4 billion ($1.7 billion), a report by Aon Benfield’s Impact Forecasting shows…
GA share acquisition values Hyperion at $361 million
08 April 2013
International insurance intermediary Hyperion has a new shareholder, with US private equity group General Atlantic acquiring more than 30%…
Swiss Re and Berkshire Hathaway settle dispute
08 April 2013
The dispute over a life reinsurance contract between Swiss Re and Berkshire Hathaway has been settled…
UK motor rates turn again
08 April 2013
The challenging UK motor market almost broke even last year, figures from Ernst & Young show – but a softening in rates means the improvement will not last…
EIOPA opens consultation on Solvency II guidelines
08 April 2013
The European Insurance and Occupational Pensions Authority is seeking comments on its draft Solvency II implementation guidelines…
Japanese insurers seek earthquake premium rise
08 April 2013
Japanese property and casualty insurers have requested permission to raise earthquake insurance premiums by an average of 15.5%…
Asia-Pacific to dominate world growth: Munich Re
25 March 2013
Premium income from the Asia-Pacific region will double by 2020, contributing an extra €1 trillion ($1.24 trillion), according to a new report by Munich Re…
FM Global hails income turnaround
25 March 2013
FM Global recorded net income of $US774 million ($746 million) last year, compared with a net loss of $US41.5 million ($40 million) in 2011…
Investments turn a profit for Ecclesiastical
25 March 2013
Ecclesiastical Insurance has reported a £27.6 million ($40.1 million) profit for last year, driven by strong returns on investments…
More countries gaining stability: Aon
25 March 2013
Global political risk is decreasing, according to Aon…
British brokers suffer another PPI hit
25 March 2013
UK brokers have been hit with an additional £16 million ($23.28 million) bill for the Financial Services Compensation Scheme…
Insurers weather Sandy’s impact
25 March 2013
Superstorm Sandy’s impact on insurance markets “will not be devastating”, according to Marsh…
Munich Re remains optimistic for year ahead
18 March 2013
Munich Re is targeting a profit of almost €3 billion ($3.81 billion) this year and has forecast a sideways shift in the reinsurance renewals of April and July…