UK broker cuts 900 jobs as clients go online
01 May 2017
UK broker Swinton Insurance is cutting 900 staff after putting 84 branches and a call centre under review…
International
Companies blind to risks of new technology: RIMS
01 May 2017
Risk managers often overlook the potential impact of disruptive technologies, a report by Marsh and the Risk and Insurance Management Society says…
Businesses display ‘serious disconnect’ in risk management
01 May 2017
Companies continue to spend more on property, plant and equipment insurance than on cover for cyber assets, despite their belief the latter are more valuable, according to the Aon-sponsored Global Cyber Risk Transfer Comparison Report…
Loss confusion ‘hampers business interruption claims’
01 May 2017
Difficulty quantifying losses tops the list of challenges risk managers face with business interruption claims, according to a Risk and Insurance Management Society survey…
Asia-Pacific revenues drive Marsh profit
01 May 2017
Marsh & McLennan’s first-quarter net profit grew 18% to $US569 million as strong Asia-Pacific revenues lifted the business…
XL Catlin profits soar two years after consolidation
01 May 2017
XL Catlin’s first-quarter net income totalled $US152.8 million, compared with $US21.9 million in the corresponding period last year…
WR Berkley makes gains in ‘competitive climate’
01 May 2017
WR Berkley has celebrated its golden anniversary with improved first-quarter profit figures…
Chubb cashes in as merger brings efficiencies
01 May 2017
Chubb more than doubled its first-quarter net income to $US1.09 billion due to improved operational efficiencies and higher business retentions following its acquisition by and merger with Zurich-based Ace…
Populist trend fuels political risk fears
01 May 2017
Brexit and US President Donald Trump’s protectionist trade stance have pushed political risk back into the top 10 concerns for companies worldwide, according to Aon’s Global Risk Management Survey…
AIR Worldwide launches cyber model
01 May 2017
Catastrophe modeller AIR Worldwide has released a comprehensive cyber-risk modelling application for insurance and reinsurance markets…
XL Catlin joins ‘world-first’ driverless car project
01 May 2017
XL Catlin has joined a consortium aiming to deploy a fleet of connected, fully autonomous vehicles in the UK…
Underwriting discipline drives Arch income
01 May 2017
Bermuda-based Arch Capital earned $US241.9 million in net income for the first quarter, up from $US149.3 million in the corresponding period last year, aided by strong underwriting discipline…
Allied World reports Debbie-driven cat losses
01 May 2017
Allied World ran up net catastrophe losses of $US11 million in the first quarter due to claims associated with Australia’s recent Cyclone Debbie, as its combined operating ratio blew out to 99.1% from 96% in the corresponding period last year…
Cat losses hit Aspen profit
01 May 2017
Aspen Insurance Holdings’ first-quarter net profit fell to $US96.5 million from $US114.4 million in the corresponding period last year, hit by catastrophe losses and increased expenses…
JLT confident after first quarter
01 May 2017
Broker JLT says it has made a strong start to the year despite challenging trading conditions…
Fairfax turns profit as insurance operations perform
01 May 2017
Canadian company Fairfax Financial Holdings recorded gross written premium of $US2.61 billion in the first quarter, up from $US2.34 billion in the corresponding period last year…
Munich Re on track to hit profit target
01 May 2017
Munich Re says it is likely to achieve its net profit target of €2-€2.4 billion this year, based on indicative figures from the first quarter…
Improved US economy aids industry uptick
24 April 2017
The global insurance industry is expected to produce above-average growth, aided by improved economies in the US and other developed markets, Munich Re says…
UK regulator investigates aviation brokers
24 April 2017
The UK’s Financial Conduct Authority is investigating participants in the aviation insurance broking industry…
March sets records for non-El Nino period
24 April 2017
The world has experienced its hottest March outside an El Nino event, according to the US National Oceanic and Atmospheric Administration…