Lloyd’s records flat profit, picks Brussels as EU hub
03 April 2017
Lloyd’s has reported a pre-tax profit of £2.1 billion ($3.4 billion) for last year, unchanged from 2015, and says it will open a European Union subsidiary in Brussels post-Brexit…
International
Retaining EU access vital, BIBA warns
03 April 2017
The UK’s role as the leading insurance centre is at risk if it loses access to the European Union’s huge market after leaving the bloc, the British Insurance Brokers’ Association says…
UK regulator highlights comparator concerns
03 April 2017
The UK’s Competition and Markets Authority says price comparison websites help consumers “make informed choices and save money”, but it also flags concerns about the way they operate…
UK insurance jobs face major automation risk: PWC
03 April 2017
Almost one-third of UK financial and insurance jobs may be at high risk of automation by the early 2030s, according to a PricewaterhouseCoopers (PWC) report…
Lloyd’s urges united front to build city resilience
03 April 2017
Insurers, government officials and other stakeholders must move beyond asset-by-asset risk management to make cities more resilient to catastrophes, according to a new report…
Liability risks evolving, AGCS says
03 April 2017
“Defective products and work” is the largest cause of liability losses worldwide, while the rise of the digital economy will present new loss scenarios for insurers, according to Allianz Global Corporate & Specialty…
Pressure growing on Bermuda businesses, AM Best warns
03 April 2017
Bermuda’s (re)insurers face persistent challenging underwriting and investment conditions, according to ratings agency AM Best…
Willis Re works to track US thunderstorm risk
03 April 2017
Severe thunderstorms have been the largest annual aggregated risk in the US insurance industry over the past decade, topping hurricane losses, according to a Willis Re report.
Hannover Re buys into Lloyd's with Argenta deal
27 March 2017
Hannover Re will acquire UK group Argenta Holdings, which owns Lloyd’s managing agent Argenta Syndicate Management and Lloyd’s members’ agent Argenta Private Capital…
US insurers look to advanced analytics benefits
27 March 2017
Advanced analytics offer the greatest opportunities for the US insurance industry this year, according to almost one-third of respondents to an AM Best survey…
Internet of Things may transform supply chain risk management
27 March 2017
Internet of Things data and machine learning may overcome the failings of traditional supply chain risk management systems, which are falling short in a changing world, according to US analytics company Transvoyant…
Local business aids Talanx earnings lift
27 March 2017
HDI Global’s parent Talanx earned net profit of €907 million last year, up 23.6% on 2015 as all divisions performed better than expected and major loss claims came in below company estimates…
Global volcano model reveals extent of exposure
27 March 2017
A significant proportion of the 1 billion people who live near active volcanoes are uninsured for eruptions, according to Swiss Re…
UK SMEs slow to take up cyber cover
27 March 2017
British SMEs’ uptake of cyber insurance is not keeping pace with the ever-increasing risk, according to a report by research and consulting group GlobalData…
Allied World shareholders back Fairfax takeover
27 March 2017
Shareholders of Swiss (re)insurer Allied World last week approved a $US4.9 billion takeover offer from Canada-based Fairfax Financial Holdings…
Insurance the ‘new frontier’ for tech innovators
20 March 2017
Innovators and investors are shifting focus from banking to insurance, according to the International Association of Insurance Supervisors…
Disruptors ‘open new doors’ for insurers
20 March 2017
A quartet of disruptive forces upending the global economy have created growth opportunities for insurers, according to reinsurance broker Guy Carpenter…
US and China lead insurers to $3.7 trillion by 2020
20 March 2017
The global non-life insurance market will exceed $US2.7 trillion ($3.79 trillion) by 2020, buoyed by strong growth in the US and China, according to research group MarketLine…
Lloyd’s devises new approach to assess risks
20 March 2017
Lloyd’s and modelling company Arium have developed a data-driven methodology that improves insurers and reinsurers’ ability to assess risk exposures…
Cat losses dent Munich Re’s profit
20 March 2017
Munich Re’s profit dipped 17% to €2.58 billion last year due to natural disaster costs incurred in the fourth quarter…