JLT maintains profit in challenging market
05 March 2012
Global broker JLT Group maintained profit at £95.27 million ($140.4 million) last year, saying challenging conditions in mature markets have been offset by growth in Asia and Latin America…
International
UK wrestles with flood cover question
05 March 2012
The availability and affordability of flood insurance in the UK is causing heated debate as the Government and insurers have failed to agree a new deal to provide cover to at-risk homes…
Munich Re buys into cat bonds
05 March 2012
Munich Re is the latest group to seek sanctuary in capital markets as rising catastrophe claims force insurers to seek alternative means of transferring risk…
Thai floods endanger Asian insurers’ ratings
05 March 2012
Higher than estimated losses from the Thai floods could put “significant” pressure on Asian insurers’ capital, Standard & Poor’s has warned in a new report…
Disasters hit Brit’s bottom line
05 March 2012
Natural catastrophes have cost Brit Insurance £141.9 million ($210 million) for the year ending December 31…
Reinsurance rates up 20% as Swiss Re says market has turned
27 February 2012
Swiss Re has revealed the January property and casualty (P&C) renewals period saw it achieve premium growth of 20% across all regions, with Group CEO Michel Lies calling a “modest but broad” market turn…
AIG back on profit track
27 February 2012
Giant US insurance group AIG has beaten analysts’ expectations in lodging fourth-quarter operating income of $US1.558 billion ($1.45 billion)…
Allianz slips on Greece and weather events
27 February 2012
Global insurer Allianz missed market expectations for full-year net income as exposure to Greek debt and natural catastrophes wreaked havoc on its bottom line…
Willis defends U-turn on commissions
27 February 2012
Willis Chairman and CEO Joe Plumeri has defended plans to reinstate contingency commissions in the US after years of crusading against the controversial payments…
Claims and investment losses hurt Berkshire Hathaway
27 February 2012
Diversified group Berkshire Hathaway has stumbled on investment losses and insurance claims in tabling fourth-quarter net income of $US3.05 billion ($2.85 billion)…
US insurers ‘moving risk onto the consumer’
27 February 2012
The Consumer Federation of America is recommending states carefully examine natural disaster data before approving insurers’ rate increases…
Tough market in China for motor insurance
27 February 2012
The opening to foreign insurers of China’s third-party motor market is likely to put pressure on Chinese companies and force premiums down, according to a report by ratings agency Moody’s…
Willis channels facultative and wholesale business to new broker
27 February 2012
International broker Willis has launched a new London-based facultative and wholesale broking business, Faber Global Limited…
Moody’s cuts outlook on Japan’s Big Three
27 February 2012
Moody’s has cut the long-term ratings outlook on Japan’s three largest insurers due to the severity of catastrophe losses last year and their exposure to the country’s moribund auto industry…
Japan quake causes risk re-think
27 February 2012
The earthquake and tsunami which hit the Tohoku region of Japan last March has “changed conventional wisdom” about the probability of devastating earthquakes affecting some areas of the country…
Marsh & McLennan revenues top $3 billion
20 February 2012
Diversified insurance group Marsh & McLennan has met market expectations with revenues of $US2.9 billion ($2.68 billion) in the fourth quarter…
Zurich slides in fourth quarter
20 February 2012
Zurich has posted a steep fall in fourth-quarter net income but still grew year-on-year after a tough 12 months of natural catastrophes and staid investments…
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…
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)…