Reinsurance rates ‘still falling’
05 June 2017
Reinsurance rates fell for the sixth consecutive year at June renewals and the pace of reductions is accelerating, according to JLT Re…
International
Swiss Re joins Trump’s Paris pullout critics
05 June 2017
Swiss Re has reaffirmed the dangers of global warming and expressed regret at President Donald Trump’s decision to pull the US out of the Paris Agreement on climate change…
UK insurance tax rise comes ‘at worst possible time’
05 June 2017
An insurance premium tax increase, introduced this month, could add about 20% to average annual household bills, the Association of British Insurers warns…
Soft market ‘a bigger threat than hurricanes’
05 June 2017
US property and casualty insurers are sufficiently capitalised to absorb costs from hurricanes, according to Fitch Ratings…
Nigeria shapes as piracy hotspot
05 June 2017
Violence off the southern Philippines coast, a rise in kidnappings in the Gulf of Guinea and the first Somali hijacking in five years are among major concerns raised in the latest International Maritime Bureau piracy report…
Terrorism pool to ‘quickly resolve’ Manchester claims
29 May 2017
UK terrorism reinsurer Pool Re says it plans to rapidly respond to any claims from the suicide bombing in Manchester last week…
AM Best removes AIG from ratings watch list
29 May 2017
AM Best has affirmed AIG’s long-term issuer credit rating at bbb and the ratings of its subsidiaries, and they are no longer under review with negative implications…
Forecasters predict lively Atlantic storm season
29 May 2017
An above-normal Atlantic hurricane season is most likely this year, according to the US National Oceanic and Atmospheric Administration…
Insurtech ‘second wave’ promises greater disruption
29 May 2017
Insurers should expect the next wave of insurtech challengers to be “savvier, more creative and more ambitious”, management consultant Oliver Wyman says…
Blockchain to transform marine logistics, Marsh says
29 May 2017
Blockchain technology could save the marine industry trillions of dollars in processing fees and provide new trust in logistics, according to a report from Marsh…
No respite for reinsurance pricing, Fitch says
22 May 2017
Reinsurance pricing will soften for the remainder of this year due to abundant capital and torpid demand, according to Fitch…
Industry trailing on shift to digital interaction
22 May 2017
Consumers increasingly want to interact with insurers via digital tools, but the industry’s investment in this appears to be lagging, according to research and advisory business Celent…
Lloyd’s canvasses staff for voluntary redundancy scheme
22 May 2017
Lloyd’s has confirmed approaching all its 1100 employees about registering for a voluntary redundancy program…
Attacks will increase cyber coverage: Fitch
22 May 2017
Recent ransomware attacks including the WannaCry outbreak that crippled the UK’s public health system are likely to lead to increased demand for cyber insurance, Fitch says…
Prodigal son returns to lead AIG
22 May 2017
Brian Duperreault has been appointed President, CEO and a director of AIG, replacing Peter Hancock…
Windstorm costs to rise as climate changes: ABI
22 May 2017
The UK is likely to experience more frequent and expensive windstorms due to climate change, the Association of British Insurers warns…
AGCS joins forces with emerging risk insurtech
22 May 2017
Allianz Global Corporate & Specialty has teamed up with US-based analytics company Praedicat to enhance predictions around key liability risks such as asbestos…
Diversification pays off for Talanx
22 May 2017
HDI Global’s parent Talanx achieved a 7.2% rise in first-quarter net income to €238 million, amid a drive to grow its global business…
‘Standard’ insurance not enough for young Brits
22 May 2017
Insurers need a “superior digital offering” to win over UK Millennials, according to research and consulting group GlobalData…
US storms expected to cost insurers billions
15 May 2017
Severe US storms will lead to multibillion-dollar insured losses, according to Aon Benfield subsidiary Impact Forecasting…