Trouble brewing for US insurers as income plummets
23 May 2016
US property and casualty insurers’ underwriting earnings declined last year and could be strained further as disturbing signals emerged in the December quarter…
International
Munich Re cuts profit outlook after first-quarter slide
16 May 2016
Munich Re has reduced its earnings projections for this year after a poor first quarter confirmed the reinsurer’s concerns over the difficult business landscape…
Nelson confirms exit plan, warns over Brexit
16 May 2016
Lloyd’s Chairman John Nelson has confirmed he will step down at next year’s May AGM as planned, and has warned the UK has much to lose if it leaves the European Union…
Canadian fire losses ‘could reach $6 billion’
16 May 2016
Claims from the Fort McMurray wildfire could exceed $C6 billion, according to ratings agency DBRS…
Zurich looks on bright side as earnings slump
16 May 2016
Zurich Insurance Group’s net profit for the three months to March 31 plunged 28% to $US875 million…
Multiline insurers ‘best placed to ride out challenges’
16 May 2016
Global insurers such as AIG and Allianz with strong diversified business lines are better placed than their smaller rivals to respond to economic slumps and other challenges, according to Standard and Poor’s…
Record revenue fuels Ebix profit rise
16 May 2016
Insurance technology specialist Ebix has posted a 21% rise in first-quarter net profit to $US22.2 million on the back of record revenue…
Reinsurers face squeeze: Fitch
16 May 2016
Global reinsurers will earn less profit this year as the weak business environment continues to affect results, according to Fitch Ratings…
IUMI welcomes new rules for maritime losses
16 May 2016
Revised rules governing global maritime losses will benefit the shipping community and insurers, according to the International Union of Marine Insurance…
Hannover Re hails pleasing start
16 May 2016
Hannover Re is on course to hit its full-year profit target of €950 million after posting a first-quarter profit of €271.2 million, up 12.7%…
Drones worth billions to insurers, PWC says
16 May 2016
Drones could replace $US6.8 billion worth of services for insurers in the near future, according to a PricewaterhouseCoopers report…
Crawford almost triples Q1 profit
16 May 2016
US-based claims management group Crawford & Company has recorded first-quarter net income of $US8.6 million, compared with $US3 million in the corresponding period last year…
Hiscox reports strong start to 2016
16 May 2016
Bermuda-based specialist insurer Hiscox has reported a 10% increase in gross written premium for the first quarter to £640.5 million…
Willis capital markets unit names CEO
16 May 2016
Willis Towers Watson has promoted Rafal Walkiewicz to CEO of investment banking arm Willis Capital Markets & Advisory…
Insurer develops ‘active assailant’ cover
16 May 2016
XL Catlin has added “active assailant” coverage to its crisis management product suite, responding to the threat of physical attack faced by businesses and public service providers…
US legislators widen flood insurance options
16 May 2016
A flood insurance bill that could provide consumers with more coverage choices is closer to becoming law after the US House of Representatives voted unanimously in favour…
Insurers urged to cross southeast Asian ‘frontier’
09 May 2016
Southeast Asia’s developing economies offer promising prospects for insurers willing to take a long-term investment approach, according to Swiss Re’s latest Sigma study…
Fire ‘may be Canada’s costliest catastrophe’
09 May 2016
The wildfire that has engulfed the north Canadian city of Fort McMurray has damaged or destroyed more than 1600 homes and structures and is threatening 19,000 more…
AIG heavyweight takes reins at QBE North America
09 May 2016
QBE has appointed former AIG Americas Casualty president Russell Johnston as its new North America CEO…
Munich Re tips premium growth, brighter market outlook
09 May 2016
The financial outlook for the global insurance industry has improved “slightly” over the past year, despite an uncertain economy, according to Munich Re’s market report for this month…