Bermuda to host Ocean Risk Summit
17 July 2017
Government, finance and reinsurance representatives will gather in Bermuda next May for the inaugural Ocean Risk Summit, addressing threats posed by climate change…
International
AIG puts Hamilton chief in charge of new tech unit
17 July 2017
AIG has appointed Seraina Macia as EVP and CEO of a new technology unit, reporting to President and CEO Brian Duperreault…
Munich Re seals typhoon cover worth chatting about
17 July 2017
Munich Re has developed a typhoon insurance solution utilising the WeChat messaging platform, China’s most popular social media app with 938 million active users…
Reinsurance pricing falls further in US: Guy Carpenter
10 July 2017
US reinsurance rates have continued to show moderate declines in the mid-year renewal period, according to Guy Carpenter…
Axis Capital set for $800 million Novae takeover
10 July 2017
Bermuda-based specialty lines insurer Axis Capital will acquire Novae after offering £467.6 million for the London-listed group…
Ex-AIG man to lead Marsh after AIG recruits Marsh CEO
10 July 2017
Marsh has appointed John Doyle as CEO of its global operations following the departure of Peter Zaffino, who will join AIG as Global COO under new leader Brian Duperreault…
Insurers seeking latest data on climate change
10 July 2017
Insurers want more information on the latest climate change science amid a changing pattern of perils and rising industry scrutiny, according to modeller AIR Worldwide…
Hiscox Chairman takes up Lloyd’s position
10 July 2017
Lloyd’s has named Hiscox Non-Executive Chairman Robert Childs as Deputy Chairman…
UK flood scheme profits in strong first year
10 July 2017
The UK’s flood reinsurance scheme achieved a pre-tax profit of £130 million in its first year, capping a successful bid to improve insurance affordability for homeowners…
Willis Re announces Cavanagh’s successor
10 July 2017
Global Deputy CEO James Kent will replace John Cavanagh as Global CEO of Willis Re at the end of this year…
China and US bear brunt of June disasters
10 July 2017
Storms in the US last month will cost insurers at least $US2 billion, while the economic cost of floods in China will run even higher, according to Impact Forecasting’s monthly catastrophe recap…
Zurich picks ex-Swiss Re chief as next chairman
10 July 2017
Former Swiss Re group CEO Michel Lies will replace Tom de Swaan as Zurich Insurance Group Chairman next year…
Indonesian growth spurt lifts industry: Fitch
10 July 2017
Indonesia’s growing economy will drive insurance premium growth, especially in property, credit guarantee and engineering, according to Fitch Ratings…
Hurricanes expected to sway US rates
10 July 2017
The hurricane season’s onset means US insurance rates will likely continue their first-half upward trend, analyst MarketScout says…
AIG’s new chief signals capital strategy shift
03 July 2017
AIG will consider new ways of using its capital “intelligently”, including buying other companies…
Lloyd’s warns on ‘slow-burn’ cyber threat
03 July 2017
Businesses are increasingly the target of sophisticated cyber attacks and risk underestimating the “slow-burn” costs of breaches, research from Lloyd’s says…
World Bank pandemic fund to launch
03 July 2017
The World Bank’s Pandemic Emergency Financing Facility will be operational this month after two years of preparation, with heavy involvement from the insurance industry, including Munich Re and Swiss Re…
UK cladding probe uncovers more failings
03 July 2017
Cladding on 181 UK tower blocks has failed fire safety tests enacted after the devastating blaze at London’s Grenfell Tower, which killed at least 80 people…
Fitch downgrades Lloyd’s outlook as market cuts jobs
03 July 2017
Fitch has revised Lloyd’s outlook to negative from stable due to its underwriting performance and increased exposure to catastrophe risk…
UK insurers say Brexit deal must guard ‘jewel in the crown’
03 July 2017
The right Brexit deal will not only ensure the insurance industry continues to be a “jewel in the UK’s crown”, but will also allow it to fulfil cross-border contracts, Association of British Insurers Director-General Huw Evans says…