Atrium quits Lloyd’s Singapore platform
25 July 2016
Lloyd’s syndicate Atrium is pulling out of the market’s Singapore platform after deciding the business is unlikely to meet growth expectations…
International
First-half cat losses ‘worst since 2011’
25 July 2016
Global economic catastrophe losses reached $US98 billion in the first half of this year, while insured losses hit $US30 billion…
UK court allows marine claim despite ‘collateral lies’
25 July 2016
The Association of British Insurers has criticised a UK court decision allowing a claim for damage to a ship despite lies told by the claimant to support its case…
Catastrophe bond issuance eases from record
25 July 2016
Catastrophe bond issuance eased to $US800 million in the second quarter after a record $US2.2 billion in the first three months of the year, according to Aon Securities…
US businesses ‘should prepare for climate change’
25 July 2016
American businesses must prepare for the increased extreme rainfall that climate change “will almost certainly deliver”, insurer FM Global warns in a new research paper…
Lloyd’s outlook cut as competitive pressure grows
25 July 2016
AM Best has cut its outlook for Lloyd’s from positive to stable, while affirming its financial strength rating at A and issuer credit ratings at A plus…
Businesses in slow lane on driverless cars
25 July 2016
Most companies are unprepared for the emergence of autonomous vehicles, according to a new survey by Munich Re…
Beazley GWP rises amid tough market
25 July 2016
London-listed insurer Beazley has reported a 2% rise in first-half gross written premium, but earnings slipped due to increased insurance claims…
Allied World hails Q2 profit surge
25 July 2016
Swiss-based insurer Allied World has reported a $US153.4 million profit for the second quarter, up from $US9.5 million in the corresponding period last year…
AIR sets up global resilience practice
25 July 2016
Catastrophe modeller AIR Worldwide has formed a global resilience practice to support risk reduction…
Japan quakes top half-year nat-cat losses
18 July 2016
April earthquakes in Japan led to the first half’s largest damage bill, totalling $US25 billion including $US5.9 billion in insured losses, Munich Re says…
UK law reforms to clear road for driverless cars
18 July 2016
Two proposed legislative reforms, including one to insurance law, will clear the way for automated vehicles to hit UK roads in the next two to four years…
UK regulator fines underwriter $4.5 million
18 July 2016
The UK’s Financial Conduct Authority has fined Towergate Underwriting Group £2.63 million for breaching rules on the handling of client and insurer money…
Canada fire dominates XL Catlin cat losses
18 July 2016
XL Catlin has reported estimated pre-tax natural catastrophe losses of $US240 million for the second quarter…
Chubb rethinks loss estimate after spate of disasters
18 July 2016
Chubb estimates its pre-tax natural catastrophe losses for the second quarter are $US390 million…
Prince addresses Willis Towers Watson sustainability event
18 July 2016
Willis Towers Watson has hosted a global sustainability forum in London, convened by the Prince of Wales…
III names Zurich exec as new President
18 July 2016
Sean Kevelighan, the Global Head of Public Affairs for Zurich Insurance Group, will replace Robert Hartwig as President and CEO of the Insurance Information Institute from August 8…
Institute issues model warning as climate change losses soar
18 July 2016
Insurance losses caused by climate change have tripled since the 1980s to an inflation-adjusted average of $US50 billion a year from $US10 billion, the Global Risk Institute says…
BGL eyes London float for Compare The Market
18 July 2016
BGL Group is considering a London listing for its insurance comparison business Compare The Market, according to media reports…
Higher cat losses, expenses hit US P&C income
18 July 2016
Private US property and casualty insurers’ first-quarter net income fell 26.5% to $US13.3 billion, hit by higher catastrophe losses and loss adjustment expenses, according to a new report…