UK to test automated truck convoys
28 August 2017
The UK Government has committed £8.1 million to test three automated trucks travelling in convoy, with acceleration and braking controlled by the lead truck…
International
Axis raises offer for Novae
28 August 2017
Bermuda-based specialty lines insurer Axis Capital has improved its all-cash offer for London-based underwriter Novae Group to £477.6 million, up from £467.6 million…
Cloud workplace addresses legacy IT limitations
28 August 2017
Willis Towers Watson has introduced a “virtual actuarial workplace” for insurers in the Asia-Pacific region…
Global cat bill tumbles
21 August 2017
Economic losses from disasters fell to an estimated $US44 billion in the first half from $US117 billion in the corresponding period last year, according to a preliminary Sigma report from Swiss Re…
Worldwide rates maintain losing streak
21 August 2017
Global insurance renewal pricing fell for the 17th straight quarter as significant capacity and a competitive underwriting landscape combined to suppress the market, broker Marsh says…
US insurers seek new paths to growth
21 August 2017
US insurers are trying to diversify their distribution channels to achieve growth in a “hypercompetitive” market, according to researcher Celent…
Reinsurers maintain profitability as losses dip: Fitch
21 August 2017
Lower than expected large loss experiences enabled the four leading European reinsurers to maintain underwriting profitability in the first half, according to Fitch…
RIMS pushes for US flood scheme renewal
21 August 2017
The Risk and Insurance Management Society plans a fundraising drive to support renewal of the US National Flood Insurance Program, which expires on September 30…
Talanx raises profit outlook after strong half
21 August 2017
German insurer Talanx has raised its full-year earnings guidance after first-half results were buoyed by fewer large losses…
Warm Atlantic raises US hurricane risk
14 August 2017
An “active” US hurricane season is increasingly likely as warm Atlantic Ocean temperatures raise the risks, according to forecasts issued as the peak storm period arrives…
Chinese flooding dominates July cat bill
14 August 2017
Six weeks of flooding in China has caused economic damage of more than $US10 billion and nearly 200 deaths, according to Impact Forecasting’s catastrophe recap for last month…
UK insurers back pre-Brexit focus on contract law
14 August 2017
The Association of British Insurers supports moves by the prudential regulator to put cross-border contract issues high up the agenda in Brexit negotiations…
Zurich hails turnaround progress
14 August 2017
Zurich has reported net income of $US1.5 billion for the six months to June 30, down 7% on the corresponding period last year…
Man-made disasters hit Munich Re profit
14 August 2017
Man-made disasters such as the Grenfell Tower fire in London contributed to a 24.8% drop in Munich Re’s second-quarter profit, but it remains confident of meeting the full-year target of €2-€2.4 billion…
Crawford profit rises as cost drive pays off
14 August 2017
Claims management group Crawford & Company has recorded a second-quarter profit of $US10.2 million, up from $US8.6 million in the corresponding period last year, largely due to cost reductions and higher case volumes…
Fairfax profit up as cat losses decline
14 August 2017
Canadian company Fairfax Financial Holdings, which has acquired Allied World, says second-quarter net earnings jumped 31% to $US311.6 million…
Acquisition prices deter insurers
07 August 2017
High market valuations are curbing acquisition activity by insurers and reinsurers, despite the temptation to board the corporate deal “roller-coaster” to drive growth amid weak markets, according to S&P Global…
Asian infrastructure boom opens doors for reinsurers: Fitch
07 August 2017
Stable domestic consumption, increased government infrastructure spending and expansion of the insurance market will drive reinsurance activity in Asia, according to a report by Fitch…
Cat bond issuance sets record in Q2
07 August 2017
Catastrophe bond issuance has climbed to record levels, driven by renewals and new sponsors entering the market, according to the latest Aon Securities report…
Aon makes gains across the board
07 August 2017
Aon’s second-quarter profit grew 156% to $US769 million ($968.63 million) thanks to growth in all major lines…