Many businesses ill-prepared for crises, study shows
29 February 2016
More than 50% of companies believe they are inadequately prepared for crises, according to a new Deloitte survey…
International
Fiji begins counting cost of Cyclone Winston
22 February 2016
Fiji is struggling to clean up after Tropical Cyclone Winston slammed into the Pacific island nation at the weekend, bringing average winds of 230kmh…
January ‘smashed heat records’
22 February 2016
Last month was the hottest January and the ninth consecutive month to break temperature records, according to the US National Oceanic and Atmospheric Administration…
China moves up global market rankings
22 February 2016
China has grown to become the world’s third-largest insurance market, with annual premium of 2.4 trillion yuan last year, according to state-run news agency Xinhua…
Strong last quarter lifts Allianz full-year result
22 February 2016
Allianz Group is confident it can continue performing strongly after its net profit grew 6.3% last year despite tough conditions and higher claims from natural catastrophes…
QBE US office snaps up ex-Zurich claims chief
22 February 2016
Former Zurich chief claims officer for Australia and New Zealand Daniel Franzetti has been appointed chief claims officer at QBE North America…
Reinsurance renewal rates have room to fall further: Fitch
22 February 2016
Fitch says renewal rates have “yet to reach a floor” and has maintained its negative outlook for the reinsurance sector…
Industry can ‘contribute significantly’ to Paris climate plan
22 February 2016
Insurers have the expertise to aid an ambitious United Nations climate action plan, according to industry think tank the Geneva Association…
UK insurers warn on further premium tax rises
22 February 2016
The Association of British Insurers has cautioned the UK Government against raising the insurance premium tax in its upcoming budget, warning it could encourage consumers to reconsider their levels of protection…
Asia drives growth in captive insurance: Aon
22 February 2016
Asia is warming to the idea of captive insurance as more groups realise its long-term strategic value, according to global broker Aon…
Tokio Marine profit slumps
22 February 2016
Tokio Marine has reported a net profit of ¥181.8 billion for the nine months to December 31, down about 15% on the corresponding period in 2014…
Hartwig to quit as III president
22 February 2016
Insurance Information Institute President Robert Hartwig will step down from the role to become an academic…
Jet aircraft accident rate falls
22 February 2016
Last year was a safe time to fly, according to data from the International Air Transport Association…
Lloyd’s risk chief warns over EU exit
15 February 2016
London’s position as the biggest commercial and specialty underwriting hub is at risk should the UK vote to leave the European Union, a senior Lloyd’s executive warns…
Renewal pricing still under pressure
15 February 2016
Reinsurance pricing remains under pressure despite hints of stabilisation at the January renewals, according to industry players…
AIG result hit by fourth-quarter loss
15 February 2016
AIG made a $US2.2 billion profit last year, down from $US7.5 billion the previous year…
Zurich reports on horror year, as overhaul gathers pace
15 February 2016
Zurich Insurance Group says net income last year slumped 53% to $US1.8 billion, as the insurer prepares to shed more jobs than previously announced and deepen organisational cuts…
Tianjin blast caused ‘largest marine loss in history’
15 February 2016
Marine insurance losses from the Tianjin chemical warehouse explosions in August are likely to total a record $US2.5-$US3 billion, according to the International Union of Marine Insurance…
Insurers’ investments show climate-friendly trend
15 February 2016
Insurers around the world are already making major investment commitments to counter climate change and enhance resilience, according to the International Insurance Society…
XL Catlin hails ‘solid’ year, successful integration
15 February 2016
XL Catlin CEO Mike McGavick says the group’s full-year result is “solid” amid a difficult reinsurance market and post-merger integration…