Lloyd’s participants fear Brexit consequences
11 April 2016
Seven out of 10 insurers, brokers and service providers in London’s international insurance market believe leaving the European Union would “hurt” or “severely damage” Lloyd’s…
International
Britain activates flood insurance scheme
11 April 2016
The UK Government’s flood reinsurance scheme has started to accept policies from insurers after three years of preparatory work…
Reinsurer capital dips, but earnings solid: Aon
11 April 2016
The latest Aon Benfield Aggregate report estimates total global reinsurer capital was $US565 billion at December 31, down 2% from a year earlier…
IMF flags further systemic risk from insurers
11 April 2016
The global financial system faces more systemic risk from the insurance sector, including life insurers, according to the International Monetary Fund…
Insurance M&A has poor success rate: S&P
11 April 2016
Buying an insurance competitor does not always improve financial strength, ratings agency Standard & Poor’s says…
Stock markets a target for cyber crime: report
11 April 2016
Financial markets are a prime target for cyber attacks because they are “where the money is” and can represent a nation or symbolise capitalism, according to a new report…
US insurers face $2 billion storm bill
11 April 2016
Storms and floods last month are expected to have cost the US economy $US3.5 billion, according to Impact Forecasting’s Global Catastrophe Recap…
‘Below-norm’ Atlantic hurricane season expected
11 April 2016
The forthcoming Atlantic hurricane season is expected to be “slightly below normal” based on current modelling, according to forecaster Tropical Storm Risk…
US commercial rate cuts slow
11 April 2016
The composite premium rate for US commercial property and casualty insurance was down 3% last month, according to analyst MarketScout…
Brexit fears compound tough period for Lloyd’s
04 April 2016
Lloyd’s says the prospect of a British exit from the European Union has added to an already tough business landscape, after earnings fell 30% last year…
Black swan label an ‘excuse for poor risk management’
04 April 2016
The “black swan” theory on natural catastrophes and other crises that cannot be predicted no longer holds sway, according to Munich Re Chairman Nikolaus von Bomhard…
Rising demand gives reinsurers hope in soft market
04 April 2016
Reinsurance rates have fallen for the fourth consecutive year at the April 1 renewals, but increased demand and a slowing of price reductions provide a glimmer of hope, according to Willis Re’s latest 1st View report…
Industry must meet rising terror threat: JLT
04 April 2016
The global terrorism threat has entered a more complex phase and the (re)insurance industry must adapt, according to a JLT report…
Lloyd’s prepares to open Mumbai branch
04 April 2016
Lloyd’s will apply for a reinsurance branch in Mumbai following the publication of regulations governing the market by the Insurance Regulatory and Development Authority of India…
Ex-VP jailed for fraud against QBE
04 April 2016
Former QBE VP James Shea has been sentenced by a US judge to 18 months in jail for trying to cheat the Australian insurer out of $US2.6 million…
MetLife wins fight to drop ‘systematically important’ tag
04 April 2016
MetLife has won its fight in the US courts against being declared a systematically important financial institution…
Ironshore IPO on the cards
04 April 2016
Chinese conglomerate Fosun International has informed the Hong Kong stock exchange it is “considering pursuing” an initial public offering of wholly owned subsidiary Ironshore…
Appetite for risk statements rising: Willis Re
04 April 2016
The growing adoption of formal risk appetite statements within the insurance industry is driving a fundamental shift in reinsurance purchasing, according to Willis Re…
Insurers paid out far less for disasters last year: Swiss Re
04 April 2016
Global insured losses from natural and man-made disasters totalled $US37 billion last year, well below the $US62 billion average for the previous 10 years, according to Swiss Re’s latest Sigma study…
Risk costs trending down: RIMS
04 April 2016
North American businesses paid 2% less last year than in 2014 to cover the total cost of risk, according to this year’s Risk and Insurance Management Society Benchmark Survey…