Insurers brace for ‘hard Brexit’
13 August 2018
British insurers are activating Brexit contingency measures as time runs out for the UK and European Union to adopt legally binding transition plans…
International
California wildfire sets record as losses mount
13 August 2018
A wildfire in California has become the largest in the state’s history, as several uncontrolled blazes cause damage to homes and businesses amid record-breaking summer temperatures…
European fires, drought take $5 billion toll
13 August 2018
Drought and wildfires in Europe are likely to cause at least $US4 billion of damage, according to Impact Forecasting’s monthly catastrophe report…
Australia lifts Zurich first-half earnings
13 August 2018
Swiss-based Zurich Group increased its first-half net income by 19% to $US1.8 billion, partly on the back of strong performance in the Australian market…
Man-made disasters dent Munich Re Q2
13 August 2018
Munich Re’s second-quarter net profit fell 0.6% to €728 million amid a sharp rise in claims due to man-made disasters…
Liberty profits as cat losses ease
13 August 2018
Liberty Mutual’s profit jumped in the second quarter on the sale of a life business, increased revenue and a more benign natural catastrophe environment…
Lower catastrophe bill buoys Hannover Re
13 August 2018
Hannover Re’s property and casualty reinsurance arm posted a 37.4% rise in first-half underwriting profit to €204.7 million, with catastrophe losses below expectations…
Divestment hits Crawford earnings
13 August 2018
Crawford & Company sank into the red in the second quarter as earnings fell and the sale of legal services arm Garden City Group incurred a $US17.8 million pre-tax loss…
California wildfire losses estimated at $2 billion
06 August 2018
Insurance losses from the still-burning Carr blaze in northern California have likely hit $US1.5 billion, making for a second consecutive highly destructive wildfire season, Moody’s estimates…
Calmer hurricane season expected
06 August 2018
The Atlantic hurricane season is tipped to be calmer than last year, when Harvey, Irma and Maria brought devastation to coastal regions…
Global trends drive M&A growth
06 August 2018
More insurers are seeking merger and acquisition targets, buoyed by growing economic momentum and the need to achieve scale as competition intensifies…
Supervisors urged to step up climate risk analysis
06 August 2018
Industry supervisors warn data gaps and myopic financial and regulatory risk models make it difficult for insurers to develop scenario analyses for climate change risks long term…
FEMA raises reinsurance with first cat bond
06 August 2018
The US Federal Emergency Management Agency has directly tapped capital market investors for the first time, to lift its flood reinsurance to $US1.96 billion following last year’s damaging hurricane season…
Severe losses hit AIG result
06 August 2018
AIG’s general insurance business suffered a 46% drop in second-quarter adjusted pre-tax net income to $US568 million, due to losses and lower investment income…
Swiss Re P&C improves in ‘recovering market’
06 August 2018
Swiss Re’s first-half performance benefitted from an improved property and casualty result, while accounting rule changes affected overall earnings…
Allianz profit takes hit from Taiwan sale
06 August 2018
Allianz recorded €30.9 billion in revenue for the second quarter, up 2.9% on the corresponding period last year…
Berkshire’s insurance arm returns to profit
06 August 2018
Berkshire Hathaway’s insurance business turned around in the second quarter, recording a net underwriting profit of $US943 million after a $US22 million loss in the corresponding period last year…
Lower cat losses, rate gains lift XL
06 August 2018
XL Group has posted a 5.8% rise in second-quarter net income to $US319 million, after lower natural catastrophe losses and a hardening market lifted earnings…
Axa records first-half income dip
06 August 2018
French insurance giant Axa has posted first-half net consolidated income of €3 billion, compared with €3.44 billion in the corresponding period last year…
WTW doubles Q2 income
06 August 2018
Willis Towers Watson more than doubled its second-quarter net income to $US82 million, as revenue from its four core segments grew 4% to nearly $US2 billion…