Insurers put funding into weather forecaster
20 March 2017
Tokio Marine HCC and WR Berkley have invested $US17 million in Weather Analytics, a provider of weather and risk-predictive software for the insurance industry…
International
Fairfax increases cash portion of Allied World offer
20 March 2017
Fairfax Financial Holdings has raised the cash portion of its $US4.9 billion cash-and-stock offer to acquire Swiss (re)insurer Allied World…
AIG searches for new CEO, picks Luxembourg as EU hub
13 March 2017
Loss-making AIG is searching for a new CEO to replace Peter Hancock, who announced his resignation last week. It has also announced its Brexit strategy, which will see the formation of a subsidiary in Luxembourg…
Hannover Re posts record profit – again
13 March 2017
Strong underwriting results in property and casualty and solid investment income have resulted in Hannover Re posting a full-year profit of €1.17 billion, marking a 1.8% increase on 2015 and its fifth consecutive record result…
ABI calls for halt on premium tax rise
13 March 2017
Charity, business and finance groups have joined the Association of British Insurers in calling for the UK Government to scrap its planned increase to the insurance premium tax in June…
US catastrophes prompt $US1 billion payout
13 March 2017
Severe weather outbreaks in the US led to a $US1 billion claims bill for the insurance industry last month, according to Impact Forecasting’s latest report…
Driverless cars ‘will revolutionise motor insurance’
13 March 2017
The transition to semi and fully automated cars will completely transform the motor insurance industry, with liability shifting from the driver to the manufacturer and the traditional risk pool dwindling according to ratings agency Fitch…
US wildfires hit four states
13 March 2017
Wildfires in Texas and surrounding states have destroyed more than 400,000 hectares and claimed at least seven lives…
Atradius warns of uncertainty ahead as earnings rise
13 March 2017
European trade credit insurer Atradius remains cautious about business prospects for this year after turning in a strong set of financial results…
Beale urges ‘sleepwalking’ insurers to meet tech challenge
06 March 2017
Insurers must shake off their inertia and make plans to remain relevant in a landscape that is already being reshaped by new technologies, Lloyd’s CEO Inga Beale says…
ABI warns of price rises under ‘crazy’ personal injury change
06 March 2017
Motor and liability premiums will rise in the UK due to a “crazy” government decision to slash an interest rate figure used to calculate compensation awards for serious injuries, the Association of British Insurers says…
Don’t underestimate cyber threat: Swiss Re
06 March 2017
Businesses, insurers and governments must work harder to get on top of cyber threats, Swiss Re warns in its latest Sigma report…
Liberty reports ‘healthy’ growth
06 March 2017
Liberty Mutual says profit grew by $US492 million to $US1.01 billion ($1.32 billion) last year due to strong premium growth…
Hiscox earnings scale new heights
06 March 2017
Bermuda-based specialty insurer Hiscox earned record pre-tax profit of £354.5 million ($568.85 million) last year, up 64% on 2015…
Crawford returns to profit
06 March 2017
Global claims management group Crawford & Company reported net income of $US36 million last year, recovering from a $US45.5 million net loss in 2015…
Rates fall, but shifts signal looming rises
27 February 2017
Global insurance rates declined for the 15th consecutive quarter due to abundant capacity and a lack of significant catastrophe losses, according to Marsh…
New Lloyd’s chairman to make ‘invaluable input’
27 February 2017
Lloyds’s has named Bruce Carnegie-Brown to succeed Chairman John Nelson, who is retiring after almost six years in the role…
CFOs focus on expansion, cost gains, EY study shows
27 February 2017
Growth is the main priority for insurers, and CFOs will focus on building insights to drive decision-making, according to a new global survey by EY…
Large cat losses hit Swiss Re profit
27 February 2017
Swiss Re says net profit fell 22.6% to $US3.56 billion last year as Canadian wildfires, the Kaikoura earthquake and Hurricane Matthew increased catastrophe losses…
Berkshire continues its winning streak
27 February 2017
Berkshire Hathaway’s insurance business increased fourth-quarter operating profit to $US548 million, up from $US306 million in the corresponding period of 2015…