Royal Bank of Scotland Insurance rebrands ahead of sell-off
13 February 2012
Royal Bank of Scotland Insurance has adopted the moniker of its best-known brand, Direct Line, as its separation from its banking parent company continues…
International
US rates edge up
13 February 2012
US premium rates averaged a 1% increase in January 2012, with rates for workers’ compensation and commercial property the biggest movers, according to research from MarketScout…
US insurance industry still a year or two away from recovery
13 February 2012
The combined ratio for the US property and casualty industry is expected to climb to 107.5% for 2011 as natural catastrophes and poor investment returns wreak havoc on financial performance…
Natural disasters shake profit results
06 February 2012
The first round of global insurance financials have revealed an industry buffeted by claims but ultimately still profitable…
Munich Re posts profit despite cat claims
06 February 2012
Munich Re’s full-year profit plunged by €1.72 billion ($2.11 billion) as catastrophe claims and investment losses cut the German’s group’s annual result to its worst result since 2006…
Aon up in solid fourth quarter
06 February 2012
Global broker Aon has banked a full-year net income increase of 39% to $US979 million ($910 million), driven by the acquisition of human resources firm Hewitt…
Gallagher drives home strong quarter
06 February 2012
Global broker and risk management firm Arthur J Gallagher has booked a 27% rise in fourth-quarter profit to post year-end earnings before interest, taxes, depreciation and amortisation of $US428.4 million…
US insurance executives believe market outlook is positive
06 February 2012
A survey of leading US insurance industry executives has revealed that the majority believe the industry is in the early stages of a hard market…
Women to pay the price under EU gender changes
06 February 2012
Younger female motorists could suffer premium hikes of 11% or more after a European Union ruling preventing insurers from using gender when risk rating comes into effect later this year…
UK insurance sector views 2012 with pessimism
06 February 2012
UK insurance companies and brokers are expecting a bleak start to 2012 after profits and business volumes declined in late 2011…
UK flood risk could hit 200,000 households
06 February 2012
More than 200,000 houses in the UK could lose their flood cover if the insurance industry and the Government fail to negotiate a special agreement in the next 18 months…
Hannover Re reports significant price increases at January renewals
06 February 2012
Hannover Re has obtained significant price increases at the January treaty renewals, with average rises of 60% in Australian premiums…
UK to crack down on whiplash claims
06 February 2012
A UK parliamentary report into the cost of motor insurance has blamed the rise in premiums in recent years on a surge in whiplash claims…
BIBA calls for intermediaries under one roof
06 February 2012
Brokers, managing general agents and aggregators should be brought under the umbrella of an expanded insurance intermediaries’ association, according to the British Insurance Brokers Association…
2011 nat cats set new record, say reinsurers
30 January 2012
Economic losses from natural catastrophes in 2011 were the highest on record, according to global reinsurers…
Reinsurance rate rises ‘fragmented’
30 January 2012
Reinsurance rates have not risen uniformly despite a year of severe natural catastrophe losses, according to the latest renewals data…
Aon moves to London
30 January 2012
Major broker Aon has decided to move its global headquarters from Chicago to London…
Business has ‘head in the sand’ over risk, says Ward
30 January 2012
Risk is poorly understood and must be a priority for business leaders after the most devastating economic losses on record, Lloyd’s CEO Richard Ward has warned…
Larger losses loom from Thai floods
30 January 2012
Insurance losses from flooding in Thailand could reach $US20 billion ($18.8 billion), although a final figure won’t be known until all business interruption policies are processed…
Swiss Re gets a new CEO
30 January 2012
Swiss Re has appointed current Global Partnerships Chairman Michel Liès as the successor to outgoing CEO Stefan Lippe…