Scor reports renewal wins
15 February 2016
Scor is happy with its January renewals, and reports “some signs of levelling out” for certain types of contract and exposure in the (re)insurance market…
International
Eastern US counts cost of winter storms
15 February 2016
Wild winter weather in the northern hemisphere caused losses of $US4 billion to the global economy last month, Aon Benfield’s Global Catastrophe Recap shows…
Willis records rising profit prior to merger
15 February 2016
Willis recorded net income last year of $US373 million, up 3% on the previous year…
Arch profit slumps in Q4
15 February 2016
Bermuda-based Arch Capital Group has reported net profit of $US53.1 million for the fourth quarter of last year, down from $US209.7 million in the previous corresponding quarter…
Hannover Re happy with treaty renewals in tough market
08 February 2016
Hannover Re says it is “largely satisfied” with its treaty renewals as of January 1, amid “sustained, significant competition” in most areas of property and casualty reinsurance…
Munich Re forms partnership to assess epidemic risks
08 February 2016
Munich Re will step up the use of data analytics to design property and casualty covers for economic losses from epidemics such as the Middle East respiratory syndrome outbreak…
US industry tackles talent shortage
08 February 2016
More than 300 organisations covering every aspect of the US insurance industry have combined to declare this the first annual Insurance Careers Month…
Piracy stable as focus switches to southeast Asia
08 February 2016
Southeast Asian waters remain dangerous for commercial vessels, with the region accounting for the bulk of piracy and armed robbery incidents last year, the International Maritime Bureau says…
Major reinsurers back UK’s $4.3 billion flood pool
08 February 2016
The UK Government has secured £2.1 billion in cover for its flood reinsurance pool, with Munich Re and Swiss Re among the key supporters…
Ergo drags on Munich Re profit
08 February 2016
Munich Re says profit fell to €3.1 billion last year from €3.2 billion in 2014 as earnings took a hit from its underperforming Ergo primary insurance unit…
Aon fights market’s ‘substantial volatility’
08 February 2016
Aon has reported net income available to shareholders of $US1.36 billion for last year, down 1% on 2014…
Marsh insurance result holds steady
08 February 2016
Marsh Risk and Insurance Services’ revenue fell to $US6.8 billion last year from $US6.9 billion in 2014…
Risk modellers set out cyber strategies
08 February 2016
Insurers can follow five cyber-loss processes to build up coverage in what is expected to be one of the industry’s fastest-growing markets, according to a new report…
Gallagher Q4 revenue rise caps ‘excellent year’
08 February 2016
Arthur J Gallagher has recorded a strong December quarter “to finish an excellent year”, CEO Patrick Gallagher says…
WR Berkley confident despite profit drop
08 February 2016
WR Berkley has reported net income of $US503.69 million for last year, down 22% on 2014…
Willis Re aims high with drone partnership
08 February 2016
Willis Re has formed a strategic partnership with drone operator Measure to expand the use of unmanned aerial vehicles in the insurance industry…
Axis result reflects challenging year
08 February 2016
Bermuda-based Axis Capital, which closed its retail insurance operations in Australia last October, says full-year net global income fell 22% to $US601.56 million following a “challenging year on many fronts”…
Beazley hails profit rise in soft market
08 February 2016
Beazley posted an improved net profit of $US249 million last year, as gross written premium grew 3% to $US2.08 billion…
US rates dip as commercial property insurers wage war
08 February 2016
The composite rate for US property and casualty business fell 4% last month as the price war among insurers intensified, according to analyst MarketScout…
Allied World profit tumbles
08 February 2016
Swiss-based (re)insurer Allied World has reported an 83% plunge in net profit for last year, as tough business conditions hit underwriting income…