Cat losses and auto woes drive US insurers to underwriting loss
10 October 2016
US private property and casualty insurers reported a $US1.5 billion first-half underwriting loss, sliding into the red during the period for the first time since 2012…
International
Britons make more general insurance complaints
10 October 2016
UK general insurance complaints, excluding payment protection, increased in the first six months of the year compared with the second half of last year, the Financial Conduct Authority says…
FM Global bulks up cyber coverage
10 October 2016
Commercial property insurer FM Global has unveiled Cyber Optimal Recovery, an endorsement to its all-risk Global Advantage policy…
US personal rates up as business cover ‘stand-off’ continues
10 October 2016
US business insurance rate movement held steady at minus 1% last month, while personal lines insurance rates were up 2%, according to analyst MarketScout…
Brexit blues extend low-confidence streak
03 October 2016
UK financial companies, including insurers, feel less optimistic following the national vote to leave the EU, a quarterly PricewaterhouseCoopers survey has found…
Myanmar to open doors to foreign insurers
03 October 2016
Myanmar will let foreign insurers enter early next year as part of a broader push to develop its financial services sector, according to local news reports…
Crisis management on rise as terror risk changes: Aon
03 October 2016
Increased terror risk in Europe and the US has driven companies to focus more on their crisis management plans, according to Aon…
FEMA seeks reinsurance back-up as claims rise
03 October 2016
The US Federal Emergency Management Agency is turning to reinsurance markets for flood cover for the first time, after disasters in recent years caused its debt levels to rise…
Swiss Re exec takes Lloyd’s Singapore role
03 October 2016
Lloyd’s has named Angela Kelly as Country Manager Singapore, a role currently carried out by Asia-Pacific CEO Kent Chaplin…
BIBA hails turnover growth, new projects
03 October 2016
The British Insurance Brokers’ Association’s turnover grew 8.8% to £5.99 million last year…
Arch raises capital to fund acquisitions
03 October 2016
Arch Capital has conducted a public offering of 18 million depositary shares at $US25 each to fund two major acquisitions, one of which will make it the largest private mortgage insurer in the world…
Health worker and patient safety linked: Aon
03 October 2016
US healthcare liability claims have moderately declined, according to a study by Aon and the American Society for Healthcare Risk Management, with further data analysis showing a correlation between worker and patient safety…
Lloyd’s hails ‘robust’ first-half performance
26 September 2016
Despite a highly competitive environment, the Brexit fallout and increased catastrophe losses, Lloyd’s has reported a £1.46 billion profit for the first half, up £260 million on the corresponding period last year…
UK regulator keeps eye on Big Data amid pricing concerns
26 September 2016
The UK’s Financial Conduct Authority will “further engage” with the retail general insurance sector after questions about Big Data use uncovered potential areas in which consumers may be disadvantaged…
New Yorkers take first sip of Lemonade
26 September 2016
Lemonade has started selling home policies to New Yorkers – the first market to get a taste of the peer-to-peer insurer’s offering…
Most businesses hit by data breach: Lloyd’s
26 September 2016
The vast majority of large European businesses have suffered a data breach – but far fewer are concerned about it happening in future…
Claims spike, taxes drive up UK motor premiums
26 September 2016
UK motorists are paying 13.5% more in premiums than a year ago, recording an average of £788 a year, according to the Consumer Intelligence market research agency…
Marine premium sinking fast: IUMI
26 September 2016
Global marine underwriting premium dropped 10.5% to $US29.9 billion last year, the International Union of Marine Insurance conference in Genoa heard…
Florida hurricane loss ‘not severe’ for industry
26 September 2016
Insured losses from Category 1 Hurricane Hermine – the first hurricane to hit Florida since 2005 – will not exceed $US400 million, catastrophe modeller RMS says…
Demand for custom reinsurance grows: Swiss Re
19 September 2016
Insurers are becoming more sophisticated in their reinsurance purchasing and there is increasing demand for customised and strategic solutions, according to a new report from Swiss Re…