Willis profits halve in 2011
20 February 2012
Global insurance broker Willis Group has reported a 52% fall in net profit for 2011, fuelling market speculation that its legendary CEO Joe Plumeri will retire next year when he turns 70…
International
BI premiums fall on continuity plans
20 February 2012
Companies with continuity plans usually enjoy better terms on their business interruption policies, according to research by the UK’s insurance broking body…
Lloyd’s estimates Thai flood losses could pass $2 billion
20 February 2012
Global insurance market Lloyd’s expects net claims from last year’s devastating Thai floods to cost around $US2.2 billion ($2.06 billion)…
Reform to combat UK whiplash epidemic
20 February 2012
Soaring car insurance premiums in the UK will be tamed through new measures to prevent false claims, according to Prime Minister David Cameron…
Zurich gets a name change
20 February 2012
Global insurer Zurich has proposed a modest name change to reflect its core business…
Arch falls on catastrophe losses
20 February 2012
Bermuda-based reinsurer Arch Capital has reported a 40% fall in fourth-quarter earnings, taking hits from the Thai floods and Melbourne’s Christmas Day hailstorm…
Hannover Re will surpass its 2011 profit target
20 February 2012
Hannover Re says its 2011 net income will be around €600 million ($732 million) when it reports on March 14, surpassing its target of €500 million ($610 million)…
D&O insurance remains competitive
20 February 2012
The general casualty and directors’ and officers’ segments remain competitive in the Asia-Pacific region as local, regional and global players fight it out for market share…
Investors warm to insurers
20 February 2012
Investors are viewing insurers with more optimism, although European underwriters remain on the nose, according to Moody’s…
Bipartisan call for urgent vote on US flood program
20 February 2012
US Senators from both sides of politics are calling for an urgent vote on the country’s flood insurance program, which is due to expire in May…
China opens third-party auto insurance market
20 February 2012
China is poised to allow foreign companies access to its huge compulsory third-party liability vehicle insurance market…
Catlin hit with $US1 billion claims bill
13 February 2012
Claims from natural disasters have wiped nearly $US1 billion ($925 million) from the full-year result of Bermuda-based insurer Catlin…
Axis posts loss for full year
13 February 2012
Axis Capital exceeded fourth-quarter expectations but still posted an operating loss for the year of $US154 million ($142.5 million) as a result of large claims in Thailand, Japan and New Zealand…
XL counts impact of Thai floods
13 February 2012
Flooding in Thailand and intangible losses on new acquisitions have eroded XL Group’s fourth-quarter results to a net loss of $US515.5 million ($479.2 million)…
Nat cats take a holiday in January
13 February 2012
January passed without any major natural disasters globally, according to Aon Benfield’s latest Global Catastrophe Recap report…
UK follows ‘twin peaks’ regulatory model
13 February 2012
Pilloried and applauded since it was first introduced, the “twin peaks” approach to prudential regulation is now to be practised by the UK’s Financial Services Authority…
Thai floods insurance cost could reach $20 billion
13 February 2012
Moody’s Investors Service has warned last year’s Thai flooding disaster could cost insurers between $US10 billion ($9.25 billion) and $US20 billion ($18.5 billion) in claims…
CII launches research project to mark centenary
13 February 2012
The UK’s Chartered Insurance Institute will mark its 100th anniversary as a chartered professional body by publishing a series of research reports examining global risk…
Arab Spring heightens political risk
13 February 2012
A wave of civil uprisings across the Middle East and Southeast Asia has raised the global level of political risk, according to the latest report from Aon Risk Solutions…
Insurers build understanding through modelling
13 February 2012
Personal lines insurers are committed to predictive modelling and now commercial lines issuers are using the statistical tool to improve their understanding of price and risk…