Oklahoma claims stack up
11 June 2013
The number of claims filed following the Oklahoma tornadoes now totals 32,433, for insured losses of nearly $US250 million ($263 million)…
International
Cat modellers strike data-sharing deal
11 June 2013
Catastrophe risk modeller Eqecat has agreed to share exposure data frameworks with its rival Risk Management Solutions…
Hong Kong GWP rises 13%
11 June 2013
The Hong Kong general insurance industry recorded a 13% rise in gross written premium to $HK12.4 billion ($1.65 billion) in the first quarter…
US personal and commercial rates continue to rise
11 June 2013
Rates on US personal and commercial lines increased last month, according to insurance exchange MarketScout…
Gen Re companies’ ratings affirmed
11 June 2013
Moody’s has affirmed an Aa1 insurance financial strength rating on Berkshire Hathaway-owned General Reinsurance Corporation…
Fitch expects Japanese premium increases
11 June 2013
Japanese non-life insurers’ underwriting profits have bottomed out, according to Fitch analysis of the past financial year…
Sidecars re-emerge in Lloyd’s market
03 June 2013
The insurance sidecar is making a return to the London market, with Willis reportedly in the final stages of negotiating a facility to cover up to 20% of its specialty insurance book running through Lloyd’s…
Ace to open office in Myanmar
03 June 2013
Ace Group has secured provisional approval to open a representative office in Myanmar later this year…
US industry profits rebound
03 June 2013
The US property casualty industry increased net income nearly 52% to $US39.9 billion ($41.3 billion) in 2012 compared with the previous year, according to AM Best…
New York checks insurers’ cyber threats
03 June 2013
The Governor of New York has launched an inquiry into the steps insurers are taking to protect their customers and companies from cyber threats…
AIG and PICC Life team up in China
03 June 2013
AIG has established a joint venture with the People’s Insurance Company of China’s life insurance arm…
Oklahoma tornado claims rise as more storms hit
03 June 2013
More than 22,400 claims worth $US85 million ($88.4 million) had been filed before more tornadoes hit Oklahoma at the weekend…
UK insurance complaints soar
03 June 2013
Complaints from British consumers increased 20% in the year to March 31, according to the UK Financial Ombudsman Service’s annual review…
US insurers prepared for hurricane season, Fitch says
03 June 2013
The US property and casualty industry is well positioned to cope with this year’s tropical storm season, according to Fitch…
Oklahoma tornado ends relatively benign year for twisters
27 May 2013
Insurance claims of over $US2 billion are forecast from the deadly tornado that ripped through a suburb of Oklahoma City in May…
US Congress considers ending reinsurance tax benefit
27 May 2013
Plans to end a reinsurance tax loophole used by foreign-controlled insurers operating in the US are “short-sighted”, an industry group has claimed…
EIOPA issues Solvency II preparation guide
27 May 2013
The European Insurance and Occupational Pensions Authority is seeking feedback on its guide to preparations for the Solvency II reforms…
TRIA renewal proves a hot topic in US
27 May 2013
Uncertainty over the future of terrorism insurance has sparked a fierce debate in the US…
Tokio Marine raises profit and enters alliance talks
27 May 2013
Tokio Marine Holdings has reported a rise in annual profit, driven by its overseas business and domestic life insurance…
Hurricane experts predict active Atlantic, peaceful Pacific
27 May 2013
The Atlantic hurricane season will be active or extremely active this year, according to a National Oceanic and Atmospheric Administration forecast…