British insurers face ‘perfect storm’
15 May 2017
Tax increases, inflation, currency deterioration, Brexit and US protectionism threaten to create a “perfect storm”, the British Insurance Brokers’ Association warns…
International
Switzerland heads global resilience chart, Australia 15th
15 May 2017
Switzerland tops this year’s FM Global Resilience Index, a ranking of 130 countries and territories according to their “enterprise resilience to disruptive events”…
UK claims formula change hits Zurich profit
15 May 2017
Changes to a UK personal injury and accident claims formula have contributed to Zurich’s profit dropping 31% to $US607 million in the first quarter…
Munich Re hails ‘gratifying’ Q1 profit gain
15 May 2017
Munich Re’s first-quarter net profit grew 27.7% to €557 million as improved results from its reinsurance arm and Ergo’s return to profitability offset higher major-loss expenditure…
Aon profit dips amid restructuring costs
15 May 2017
Aon’s first-quarter profit declined 10% to $US291 million amid restructuring costs, but the company says it made a positive start to the year as revenues from continuing operations increased…
Ebix grows on ‘domain expertise, customer awareness’
15 May 2017
Insurance technology specialist Ebix says first-quarter revenue grew 11% to $US79.1 million, reflecting growth in its exchange, risk compliance and broker solution channels, and its growing reputation…
Hannover Re ‘on target’ after first quarter
15 May 2017
Hannover Re says it remains on track to deliver its revised annual profit target of €1 billion, despite a 2.4% dip in first-quarter profit to €264.8 million…
Hiscox announces new EU base
15 May 2017
London-based international specialist insurer Hiscox will establish a new European subsidiary in Luxembourg in response to Brexit…
Beazley satisfied despite Q1 premium decline
15 May 2017
Global specialist insurer Beazley has hailed a “solid” start to the year, despite a 2% drop in gross written premium…
SME sector ‘set for insurtech disruption’
08 May 2017
The SME insurance market is ripe for digital disruption, according to Willis Towers Watson’s inaugural insurtech briefing…
Insurers’ investment income under pressure
08 May 2017
Investment income for property and casualty insurers worldwide will remain under pressure even as the likelihood of “prolonged” low interest rates diminishes, Moody’s Investors Service says…
Cat bond market off to strong start: Aon
08 May 2017
The catastrophe bond market made a robust start to the year, with issuance totalling $US2.17 billion in the first quarter, Aon’s latest insurance-linked securities update says…
Berkshire insurance arm racks up Q1 losses
08 May 2017
Berkshire Hathaway’s insurance business sank into the red during the first quarter, driven down partly by estimated losses of $US52 million from Cyclone Debbie and incurred losses of $US270 million related to prior years’ loss events…
Debbie tears into Swiss Re profit
08 May 2017
Swiss Re has reported first-quarter net income of almost $US656 million, down from $US1.23 billion in the corresponding period last year…
Efficiency drive pushes AIG back into black
08 May 2017
AIG returned to profitability in the first quarter with a net income of $US1.19 billion, partly aided by a drive to cut expenses and raise efficiency…
Liberty puts specialty lines under Ironshore brand
08 May 2017
Liberty Mutual Insurance will combine its specialty lines business in the US with newly acquired specialist global insurer Ironshore, to create the nation’s sixth-largest underwriter of excess and surplus lines…
‘Unwavering focus’ pays off for Willis Towers Watson
08 May 2017
Willis Towers Watson’s first-quarter profit leapt 43.7% to $US352 million as it continued to consolidate following the merger in January last year of broker Willis and professional services company Towers Watson…
Wind and hail dent Liberty earnings
08 May 2017
Wind and hail losses more than offset improved investment results for Liberty Mutual in the first quarter, driving net profit down 11% to $US351 million…
Mapfre profit rises on Spain, Brazil premium gains
08 May 2017
Spain and Brazil delivered strong premium growth for Madrid-based insurer Mapfre in the first quarter, helping net profit rise 7.5% to €206.2 million…
ILS market ‘firing on all cylinders’
01 May 2017
The global insurance-linked securities market has sustained its strong momentum from last year, recording $US1.7 billion of bond capacity via five deals in the first quarter, according to Willis Towers Watson Securities…