Reinsurers urge industry to take lead on disruption
30 October 2017
Insurers must move fast and take the initiative in transforming the industry, Munich Re CEO Joachim Wenning says…
International
Lloyd’s updates hurricane bill
30 October 2017
Almost $US900 million has been paid in claims for hurricanes Harvey, Irma and Maria, Lloyd’s says in an update…
Munich Re braces for $4 billion hurricane bill
30 October 2017
Munich Re has joined the growing hurricane casualty list, projecting a third-quarter net loss of €1.4 billion and discarding its full-year €2-€2.4 billion profit estimate…
Disastrous quarter leaves Lloyd’s exposed: Fitch
30 October 2017
Catastrophe losses from hurricanes, Mexican earthquakes and Californian wildfires may leave Lloyd’s exposed to a ratings downgrade, Fitch says…
US wildfire bill may top $3.9 billion: AIR
30 October 2017
California wildfires that destroyed about 8900 structures and killed 42 people will cost insurers $US2-3 billion, according to catastrophe modeller AIR Worldwide…
Risk analysts urge focus on near misses
30 October 2017
The insurance industry should analyse near misses and learn from them, as it does from actual events, according to a new report from Lloyd’s and catastrophe modeller RMS…
Expenses blowout hits Aon profit
30 October 2017
Aon has reported a fall in third-quarter net income to $US185 million from $US319 million, as expenses increased at double the pace of revenue…
Hurricanes knock XL into red
30 October 2017
XL Group recorded a net loss of $US1.04 billion in the quarter to September 30 as its catastrophe bill blew out due to hurricanes in the US and Caribbean…
Chubb points to ‘firming prices’ after catastrophe losses
30 October 2017
Chubb has recorded a $US70 million net loss for the three months to September 30, with after-tax catastrophe losses at $1.53 billion…
Risk division lifts Marsh earnings
30 October 2017
Marsh & McLennan’s risk and insurance services division revenue grew 8% to $US1.8 billion last quarter as the Asia-Pacific region made a solid contribution…
Catastrophes drag on WR Berkley earnings
30 October 2017
Commercial lines insurer WR Berkley has reported a decline in third-quarter net income to $US162 million, down from $US221 million in the corresponding period last year, as hurricane losses took a toll…
Hurricanes blow Talanx off course
30 October 2017
Talanx expects to incur a net loss of €20 million for the third quarter, after taking a hit from hurricanes in the US and Caribbean…
Swiss Re puts Q3 cat bill at $4.6 billion
23 October 2017
The third-quarter combined claims burden from hurricanes Harvey, Irma and Maria and other natural catastrophes is about $US3.6 billion, Swiss Re says…
Zurich faces $794 million hurricane bill
23 October 2017
Zurich’s property and casualty business expects $US620 million in after-tax losses from hurricanes Harvey, Irma and Maria in the third quarter…
ILS market ‘performs well’ in catastrophe-hit Q3
23 October 2017
The global insurance-linked securities market held up in the third quarter despite the spate of natural catastrophes, according to Willis Towers Watson…
US campaigners demand end to ‘murder insurance’
23 October 2017
Insurer Chubb and broker Lockton are under fire in the US for partnering with the National Rifle Association (NRA) on an insurance policy for gun owners who shoot someone and claim self-defence…
Aon political risk map shows little movement
23 October 2017
Only Ukraine and Tonga have seen their ratings adjusted in the latest Aon political risk update…
Tap into reinsurers’ digital resources, insurers told
23 October 2017
Small insurers should take advantage of reinsurers’ vast data and analytics resources to thrive in an increasingly complex digital age, according to Gen Re…
EU data reforms trigger rise in cyber-risk spending
23 October 2017
Companies with European operations are stepping up their cyber defences ahead of new EU data protection laws due in May, according to a Marsh survey of more than 1300 senior executives…
Homeowners’ premium maintains US growth spurt
23 October 2017
US homeowners’ premium is expected to hit $US93 billion this year as the line continues to grow amid increasing pressure on insurers’ financial returns, according to an Aon Benfield report…