Ecclesiastical posts loss but remains positive
26 March 2012
UK-based insurer Ecclesiastical has taken a further knock in the form of a £16.9 million ($25.8 million) underwriting loss for last year…
International
Catastrophe modelling rivals agree on data sharing
26 March 2012
AIR Worldwide and Risk Management Solutions have agreed to pool their data to assist insurers and reinsurers struggling with increasingly complex catastrophe models…
Busy year expected for cat bonds
26 March 2012
The catastrophe bond market looks set for another busy year, with covers on US hurricane risk, storms in Europe, earthquakes, and disasters in Japan, reinsurance broker Guy Carpenter says…
US federal insurance committee to hold first meeting
26 March 2012
The Federal Advisory Committee on Insurance will hold its first meeting on Friday in Washington…
US reinsurers’ net income falls
26 March 2012
The 2011 net income of a group of 19 US property/casualty reinsurers surveyed by the Reinsurance Association of America fell 26.6% to $US6.89 billion ($6.58 billion) compared with 2010…
Quieter Atlantic hurricane season predicted
26 March 2012
Fewer hurricanes are expected across the Atlantic basin this year, Colorado State University researchers say…
Early start for tornadoes in the US Midwest
26 March 2012
Another three tornadoes have ripped through the US state of Michigan, destroying 13 homes and causing damage to more than 100 others. Eqecat estimates insured losses at less than $US100 million…
Munich Re forecasts a good year
19 March 2012
Munich Re says it remains on target to increase profit to €2.5 billion ($3.1 billion) this year after a relatively benign start to the catastrophe season and improving global markets…
Hannover upbeat on 2012
19 March 2012
Hannover Re is looking to 2012 “with optimism” despite posting a 19.1% fall in net income in a year marred by a high number of natural disaster claims…
Solvency II criticised as Prudential threatens to quit UK
19 March 2012
The UK Prime Minister and the head of the Association of British Insurers have joined the debate about the proposed Solvency II rules…
UK regulator warns industry over potential potholes
19 March 2012
The UK’s Financial Services Authority has identified three areas of potential consumer detriment in the general insurance market, and has warned the industry it will act to…
Insurers’ cost cutting to continue
19 March 2012
Low investment income is putting pressure on insurers to cut costs more aggressively, according to a report by PricewaterhouseCoopers…
BIBA sends UK Government its wish list
19 March 2012
The British Insurance Brokers’ Association continues to lobby the UK government to expedite a review of the Financial Services Compensation Scheme after the mis-selling of credit insurance…
MarketScout expands into personal lines
19 March 2012
US information exchange MarketScout has begun monitoring personal lines premiums and coverage terms…
IAG’s Equity faces auditing investigation
12 March 2012
The past troubles at IAG’s UK subsidiary, Equity Red Star, continue to haunt the business with its auditor now under investigation…
QBE faces US lawsuit over ‘forced’ insurance
12 March 2012
The US operations of QBE have come under fire over insurance policies forced on homeowners struggling to pay their home mortgages…
US market slowly turning
12 March 2012
US electronic insurance exchange MarketScout says the commercial market is starting to turn after the composite rate rose by 2% in February…
Up to $US2 billion in US tornado claims
12 March 2012
Eqecat has estimated claims of $US1-$2 billion ($94 million to $1.9 billion) from the tornadoes that hit the US Midwest and southern states in the first week of this month…
Nat cat events soar in February
12 March 2012
Several large weather events in February have pushed global economic losses from natural catastrophes to more than $US2 billion ($1.87 billion)…
AIG sells down controlling stake in AIA
12 March 2012
AIG has sold a stake in its Asian life insurance subsidiary AIA, raising $US6 billion ($5.6 billion) to repay more of its debt to the US Government…