Consumer division lifts AIG operating profit
07 August 2017
AIG’s second-quarter operating profit grew 10% to $US1.45 billion as an improved result from its consumer division offset commercial weakness…
International
Merger costs dent Willis Towers Watson performance
07 August 2017
Restructuring costs prompted a 54.2% slump in net income for Willis Towers Watson in the second quarter, but first-half profit was up 21.6% and revenue was stable…
Tough markets, Debbie dent Swiss Re profit
07 August 2017
Swiss Re’s earnings dropped by about one-third in the first half amid tough market conditions and losses from Cyclone Debbie…
Debbie contributes to weaker Berkshire result
07 August 2017
Berkshire Hathaway has posted a net underwriting loss of $US289 million for the first half, including costs from Cyclone Debbie, compared with a profit of $US550 million in the corresponding period last year…
Investment returns save Liberty result
07 August 2017
Strong investment returns lifted Liberty Mutual’s second-quarter profit by $US111 million ($139.74 million) to $US126 million, making up for a combined operating ratio that deteriorated by 1.3 points to 102.7%…
Aspen defies ‘challenging’ market to grow Q2 profit
07 August 2017
Aspen Insurance Holdings increased its second-quarter net income to $US75.8 million from $US64.9 million in the corresponding period last year…
Hiscox grows premium in ‘tough market’
07 August 2017
Bermuda-based insurer and reinsurer Hiscox has grown gross written premium (GWP) by 13.3% to £1.46 billion ($2.4 billion) for the six months to June 30…
Takeover target Novae posts half-year loss
07 August 2017
UK-based Novae Group, set to be acquired by specialty lines insurer Axis Capital, has reported a pre-tax loss of £14 million ($23 million) for the first half…
ILS record ‘may sound death knell’ for old model
31 July 2017
Catastrophe bond issuance reached a record $US6.3 billion in the second quarter as insurers continued flocking to alternative capital to protect against risks, according to Willis Towers Watson’s market update…
Allianz Q2 profit soars
31 July 2017
Allianz’s preliminary results show an 83.4% rise in net income attributable to shareholders for the second quarter, to €2 billion…
XL Catlin profits from decline in cat losses
31 July 2017
XL Catlin recorded a net income of $US301.6 million in the second quarter, up from $US43.8 million in the corresponding period last year, aided by lower catastrophe losses…
Marsh & McLennan lifts insurance revenue
31 July 2017
The Marsh & McLennan risk and insurance services division’s revenue grew 4% to $US1.92 billion in the second quarter…
‘World-class underwriting’ lifts Chubb profit
31 July 2017
Chubb Chairman and CEO Evan Greenberg says the group is in “excellent shape”, with net income almost doubling to $US1.31 billion in the second quarter…
BIBA gives brokers an app edge on motor claims
31 July 2017
The British Insurance Brokers’ Association has backed a smartphone app that allows motor claims to be submitted in less than 10 minutes and aims to cut claims costs and reduce the 23-day average claims reporting time by up to 90%…
WR Berkley result highlights increasing competition
31 July 2017
WR Berkley has reported net income of $US109 million ($136.47 million) for the second quarter, up slightly from the corresponding period last year…
Lower catastrophe bill lifts Scor
31 July 2017
French reinsurer Scor made a net profit of €292 million in the half-year to June 30, up 6.2% on the corresponding period last year, due partly to a lower catastrophe bill…
Weak market drags on Arch in June quarter
31 July 2017
Arch Capital’s second-quarter net income fell to $US173.8 million from $US205.6 million, squeezed by sluggish market conditions…
New regional hubs pose threat to Lloyd’s: AM Best
24 July 2017
Lloyd’s faces a challenge to its competitive position in an increasingly difficult operating environment, according to ratings agency AM Best…
US storms take toll, but first-half cat costs drop
24 July 2017
US hailstorms and tornadoes dominated natural catastrophe costs in the first half, but global losses were less than half average levels, according to separate reports by Munich Re and Impact Forecasting…
Insurtech investments soar to record level
24 July 2017
Investors poured a record $US985 million into insurtech deals in the second quarter, up from $US398 million in the corresponding period last year, according to a Willis Towers Watson’s report…