Zurich completes redundancy review
05 September 2016
Zurich has finalised “on a group level” the number of staff to be made redundant under a global shake-up new CEO Mario Greco announced in June…
International
Reinsurers suffer declining investment returns: S&P
05 September 2016
Global reinsurers’ investment returns are contracting rapidly, with the weakening trend set to continue, according to the latest report from S&P Global Ratings…
Florida hit by its first hurricane in a decade
05 September 2016
The first hurricane to cross the Florida coastline in more than a decade swept ashore in one of the state’s more sparsely settled areas, according to catastrophe modeller AIR Worldwide…
Ironshore turns in profitable first half
05 September 2016
Ironshore made a net profit of $US148.3 million in the half-year to June 30, according to Chinese parent company Fosun International…
Charles Taylor reports first-half revenue rise
05 September 2016
UK-listed Charles Taylor says its insurance support services business achieved good revenue growth in the first half, but the division’s profitability dipped slightly due to investment in new initiatives…
Zurich ready to finalise job cuts
29 August 2016
Zurich Insurance expects to decide by Wednesday how many jobs it will cut under a restructure designed to turn around the beleaguered business…
Willis Re names Asia-Pacific president
29 August 2016
Willis Re has appointed Michael Harden as Asia-Pacific President following a period as CEO of the company’s Bermuda operations…
London insurers urged to change soft-market game plan
29 August 2016
Recent solid performances from London insurers are unsustainable and companies must adapt their soft-market strategies to remain competitive, according to AM Best…
Lack of cover limits losses from Italy quake
29 August 2016
Insurance losses from the devastating earthquake that struck Italy last week are likely to be limited because most homes in the region are not covered for seismic events…
XL Catlin takes sip of Lemonade
29 August 2016
XL Innovate, the venture capital fund backed by XL Catlin, has invested an undisclosed amount in peer-to-peer insurer Lemonade…
Asian reinsurance market set for growth: Fitch
29 August 2016
Regulatory reform in Asia may drive increased demand for reinsurance as primary insurers rethink risk management strategies and appetite, according to Fitch…
FM Global to open Singapore loss prevention centre
29 August 2016
International insurer FM Global has begun work on an $S80 million loss prevention training and operations centre in Singapore…
Louisiana counts cost of floods
29 August 2016
Recovery efforts are under way in flood-hit Louisiana as the southern state struggles with the aftermath of the worst natural disaster to hit the US since Superstorm Sandy in 2012…
Rate reductions lose pace worldwide
29 August 2016
Global insurance rates have declined for the 13th consecutive quarter, but the rate has slowed for the second quarter in a row, according to new figures from Marsh…
First-half losses soar as disasters take toll
22 August 2016
Global insured losses for the first half grew 51% to about $US31 billion compared with the corresponding period last year, Swiss Re says…
Chubb names new Asia-Pacific P&C chief
22 August 2016
Chubb has appointed Jason Keen as Head of Property and Casualty for Asia-Pacific under a shake-up of senior positions…
AIG parts with mortgage arm under group revamp
22 August 2016
AIG has sold mortgage insurance arm United Guaranty Corporation to Arch Capital Group for $US3.4 billion under a strategic plan to focus on its core business, yielding to shareholders’ pressure for a more efficient operation…
Marsh tips US market to stay soft
22 August 2016
US property and casualty markets are expected to remain soft this year while demand for cyber cover continues to rise, according to Marsh…
Reinsurers exposed on catastrophes, says S&P
22 August 2016
Falling prices have left global reinsurers potentially exposed if catastrophe levels return to normal, according to a report from Standard & Poor’s…
IAIS says insurers are prime targets for cyber attack
22 August 2016
Insurers remain prime targets for cyber crime due to the sheer volume of private and commercial data they collect, an International Association of Insurance Supervisors issues paper warns…