Xchanging sinks into red
14 March 2016
UK-based insurance outsourcing business Xchanging made a net loss of £52.7 million last year, compared with a £29.4 million profit in 2014…
International
Crawford reports 2015 loss due to restructuring
14 March 2016
Global claims services group Crawford & Company has reported a net loss of $US45.5 million for the 12 months ending December 31…
China’s territorial fights and economy ‘threaten Asia’s stability’
14 March 2016
Maritime territorial disputes in Asia and China’s economic “rebalancing” are among key risks facing the region this year, according to Aon’s annual Political Risk Map…
Charles Taylor raises revenue, seeks acquisitions
14 March 2016
Insurance services company Charles Taylor has reported a 17% increase in revenue to £143 million for the year ending December 31…
Fiji cyclone claims fall within Tower excess
07 March 2016
New Zealand insurer Tower estimates losses from Cyclone Winston in Fiji will fall within its main catastrophe reinsurance cover, which has an excess of $NZ10 million…
FCA value comparator to boost competition
07 March 2016
The UK’s Financial Conduct Authority is to trial a value comparison website, in a bid to increase competition…
Complex emerging risks ‘a leadership responsibility’
07 March 2016
Increasing global economic integration, technological advances and geopolitical friction are “profoundly complicating the risk landscape”, a Marsh McLennan report warns…
XL to quit Ireland for Bermuda
07 March 2016
XL Group is to move its registered office from Ireland to Bermuda, to better suit its global operations…
Catastrophes slash Liberty Mutual profit
07 March 2016
Liberty Mutual recorded a 72% slide in net profit last year as global catastrophes, currency exchanges and energy-related losses squeezed earnings…
Europe faces more storm losses: Munich Re
07 March 2016
Storm losses in Europe are projected to rise amid evidence climate change is causing more severe events, according to Munich Re…
US rates remain in negative territory
07 March 2016
The overall composite premium rate for US property and casualty insurance remained down 4% in February, a month typically marked by slow activity, according to analyst MarketScout…
Zurich reaffirms commitment to Hong Kong, Singapore
29 February 2016
Zurich says it has “no intention” of exiting the Hong Kong and Singapore markets, after reports suggested it was exploring a sale…
Sea level increase ‘fastest in 2800 years’
29 February 2016
Sea level rises last century were “extremely likely faster than during any of the 27 previous centuries”, according to a new report…
Swiss Re profit surges as Liès names successor
29 February 2016
Swiss Re has reported a 31% rise in net profit to $US4.6 billion for last year, and announced the promotion of CEO Reinsurance Christian Mumenthaler to Group CEO…
Steady as you go for Berkshire insurance
29 February 2016
Berkshire Hathaway has reported an operating profit of $US17.36 billion for last year, up 4.9% on 2014…
M&A deals raise claims
29 February 2016
A high percentage of mergers and acquisitions globally result in disputes and insurance claims after finalisation, according to AIG…
Expect more ‘transformational’ M&A: report
29 February 2016
Last year was a time of “transformational” merger and acquisition activity in the industry, and more is on the way, according to Ernst & Young Global Insurance Transactions Leader David Lambert…
Insurers struggle to assess damage in cyclone-hit Fiji
29 February 2016
Damage to Fiji’s communications facilities is making it difficult for insurers to assess the destruction left by Tropical Cyclone Winston, the strongest storm to have struck in the southern hemisphere…
Google shuts US, UK insurance comparator
29 February 2016
Google has started winding down its comparison website for motor and travel insurance and services including credit cards and mortgages…
CSC bid for Xchanging clears US hurdle
29 February 2016
Computer Sciences Corporation is a step closer to acquiring UK insurance outsourcing business Xchanging after its takeover bid met US regulatory requirements…