Lloyd’s warns on underwriting profitability
30 January 2017
Underwriting discipline will remain a focus at Lloyd’s after profitability deteriorated last year, according to an annual note from Chairman John Nelson and CEO Inga Beale…
International
AM Best puts AIG ratings on review
30 January 2017
AIG’s credit ratings are under review with negative implications after announcing its fourth-quarter financial result will include “a material adverse reserve adjustment and capital-supporting reinsurance transaction” for its US commercial business, AM Best says…
Fairfax buys Allied World for $6 billion
30 January 2017
Toronto-based Fairfax Financial Holdings is acquiring Swiss (re)insurer Allied World in a cash and stock deal for $US4.9 billion…
Cat bond issuance rises
30 January 2017
Catastrophe bond activity picked up in the fourth quarter of last year after a quiet northern summer, Willis says in a market update…
Natural hazards, climate dominate global risk chart
30 January 2017
Environment-related risks are among the top five global threats, according to an annual World Economic Forum report…
Catastrophe claims ‘highest in four years’
30 January 2017
Reinsurance broker Aon Benfield and reinsurers Munich Re and Swiss Re have published varying estimates of last year’s global catastrophe losses…
UK insurers criticise compensation scheme reforms
30 January 2017
The Association of British Insurers has attacked proposed reforms to a compensation scheme it calls “a vital safety net”…
BHSI ‘puts down roots’ in Malaysia
30 January 2017
Berkshire Hathaway Specialty Insurance has gained a licence from Malaysia’s Labuan Financial Services Authority to provide non-life reinsurance, and has established an office in Kuala Lumpur…
Hyperion seeks acquisitions as revenues rise
30 January 2017
UK-based Hyperion Insurance Group remains on the lookout for acquisitions after corporate deals helped drive a 45% revenue gain last financial year…
Commercial rates fall further in US
30 January 2017
US commercial rates were down 1% last month, compared with drops of 4% at the start of last year, according to analyst MarketScout…
Guy Carpenter names international division chief
30 January 2017
Guy Carpenter Head of Asia-Pacific James Nash has been appointed President of the group’s new international division…
Lloyd’s shakes up operating model
12 December 2016
Lloyd’s says a new corporation operating model to be introduced next month will sharpen its focus and help it deliver the Vision 2025 strategic plan more efficiently…
Trump and Brexit just the beginning: Bill Berkley
12 December 2016
The political surprises thrown up by the Brexit vote and the US presidential election are just the start of a global trend, with the rest of Europe not far behind, WR Berkley founder and Executive Chairman William Berkley warns…
NZ quake tops November cat bill
12 December 2016
Last month’s 7.8-magnitude earthquake in New Zealand caused at least $NZ3 billion of economic damage, Impact Forecasting’s latest catastrophe report says…
Indonesian insurance demand to soar: Fitch
12 December 2016
An increase to Indonesian infrastructure spending may drive up demand for insurance products, according to Fitch…
BIBA wades in to tackle SME flood risk
12 December 2016
The British Insurance Brokers’ Association has helped develop a flood insurance product for small businesses excluded from the Flood Re program…
US industry wary of Trump effect
12 December 2016
Insurers have lowered their expectations for US property and casualty premium growth next year following Donald Trump’s election, according to a report by EY…
Chubb upbeat on growth trajectory
12 December 2016
Chubb says it is well placed to expand its global share of the growing but fragmented property and casualty market…
US rates show little movement
12 December 2016
Growth in US personal lines rates remained steady last month at 1%, while the decline in commercial rates moderated “ever so slightly”, according to insurance analyst MarketScout…
Zurich faces ‘execution risk’ in turnaround
05 December 2016
Zurich must do more to return its general insurance earnings to pre-2015 levels, according to AM Best…