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…
International
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…
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…
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…