Underwriters foresee huge premium lost from Brexit
24 October 2016
Britain’s European Union exit could affect £7.3 billion of premium written in the London company market, the International Underwriting Association estimates…
International
Disruptive forces present chances and challenges: Guy Carpenter
24 October 2016
Urbanisation, technological advances, increased connectivity and an ageing population are the four major disruptive forces in the global economy and insurance market, according to reinsurance broker Guy Carpenter…
AIG sells regional operations to Canada’s Fairfax
24 October 2016
AIG will sell its insurance operations in Latin America and Turkey to Canada’s Fairfax Financial Holdings, as it streamlines operations to focus on core businesses…
Zurich expands supply chain service
24 October 2016
Zurich has introduced a “first of its kind” supply chain risk solution to Hong Kong and Singapore…
ABI demands action on stalled whiplash reforms
24 October 2016
The Association of British Insurers has called on the Ministry of Justice to push through whiplash compensation reforms, to stop lawyers rorting the system…
Hurricane Matthew damage manageable: AM Best
24 October 2016
Insurers affected by Hurricane Matthew mostly have the capital levels and reinsurance programs to absorb losses, according to ratings agency AM Best…
Matthew bill may top $11 billion, but Nicole spares Bermuda
17 October 2016
Insured losses from Hurricane Matthew are estimated at up to $US8.8 billion, with most of the bill borne by US insurers, according to AIR Worldwide…
Brokers hold ‘frank’ talks with SSP on system failure
17 October 2016
Managers from software company SSP have faced about two-dozen UK brokers hit by its recent system failure, after the British Insurance Brokers’ Association organised a meeting…
Global warming ‘widens forest fire zone’
17 October 2016
Climate change has doubled the area affected by forest fires in western US over the past 30 years, according to a new study – and scientists predict the danger will spread further…
Industry strengthens safeguards on data privacy
17 October 2016
About 61% of financial services businesses worldwide require employees to complete privacy training, as the sector increasingly realises the importance of protecting its digital assets, according to a PricewaterhouseCoopers survey…
FCA commits to staff diversity targets
17 October 2016
The UK’s Financial Conduct Authority has set diversity and inclusion targets for its senior leadership team, as it aims to better reflect the country’s population…
More businesses seek cyber protection
17 October 2016
The number of companies buying standalone cyber insurance has jumped 29% compared with last year, according to a Risk and Insurance Management Society survey…
Red Cross demands action on disaster mitigation
17 October 2016
The Red Cross has called for urgent investment in mitigation as it struggles to respond to more frequent and intense natural disasters and the biggest refugee crisis since World War II…
Megacity growth ‘poses insurance challenges’
17 October 2016
The rising number of global megacities will increase risks from natural catastrophes and other events, according to an Allianz Global Corporate & Specialty report…
China, India, Kenya top JLT Re’s emerging markets list
17 October 2016
Emerging economies are expected to grow at 2-3 times the pace of developed markets over the next five years, providing a huge opportunity for insurers, according to JLT Re…
Aon creates cyber giant with Stroz Friedberg deal
17 October 2016
Aon Risk Solutions will acquire US risk management business Stroz Friedberg, cementing its position as a global leader in cyber-risk brokerage and management…
Insurers ‘strong enough to cover Hurricane Matthew bill’
10 October 2016
US insurers can absorb costs arising from Hurricane Matthew, which is causing considerable flooding in the US coastal state of North Carolina as it heads back into the Atlantic…
Japanese giant Sompo spends $8 billion on Bermudan acquisition
10 October 2016
Sompo Holdings will pay $US6.3 billion in cash to buy Bermuda-based Endurance Specialty Holdings, which has huge operations in the US and UK…
Brexit talks ‘need insurer input’
10 October 2016
UK financial services businesses, including insurers, must give the Government as much support as possible so the country leaves the European Union with the best deal for its economy, according to KPMG…
Hermine storm damage ‘was wake-up call’ for Florida
10 October 2016
Damage from Hurricane Hermine last month provided a reminder of the risks faced by Florida after more than a decade without a similar storm crossing the US state’s coastline, according to Impact Forecasting…