FCA seeks feedback on Big Data
30 November 2015
Britain’s Financial Conduct Authority has called for submissions on the use of Big Data in the retail general insurance sector…
International
Blame it on the rain: weather-based disasters soar
30 November 2015
Nearly all the world’s major disasters over the past 20 years can be blamed on weather, with an estimated cost of $US250-$350 billion each year, according to a United Nations report…
India caught napping on fraud
30 November 2015
Fraud affects 75% of companies across the world, according to this year’s Kroll Global Fraud Report, with emerging economic superpower India among the worst-hit nations…
Lloyd’s given a passage to India
23 November 2015
Lloyd’s has welcomed new draft regulations governing its registration and operation of a reinsurance branch in India…
Climate change ‘threatens insurer stability’
23 November 2015
Insurers’ financial stability may be undermined by climate change, according to Standard & Poor’s…
Ace lines up Asia-Pacific team before Chubb integration
23 November 2015
Ace has unveiled its team to oversee 13 markets in the Asia-Pacific region, including Australia, when the merger with US insurer Chubb is completed in the first quarter of next year…
‘Risk-mature’ businesses perform better: Aon
23 November 2015
Businesses that understand and manage risk well perform better financially and have less volatile stock, according to the new Aon Risk Maturity Index Insight Report…
Cyber market ‘holds uncertain risks for insurers’
23 November 2015
The rapidly growing cyber-cover market poses risks for insurers as they respond to rising demand for protection against data theft and other attacks, according to a Moody’s report…
UK flood pool gets final approval and reinsurance cover
23 November 2015
The UK Government’s flood reinsurance pool is on course to begin operating in April as planned, after it officially became a statutory body and secured £1.29 billion of cover from global reinsurers…
Global execs support drive on climate change
23 November 2015
Industry think-tank the Geneva Association has backed moves to counter climate change in the run-up to next week’s United Nations summit on the issue…
Terrorism ‘causes record damage’
23 November 2015
Terrorism caused record levels of economic damage last year, according to a new report from the Institute for Economics & Peace, a global think-tank based in Sydney…
Talbot makes changes at the top
23 November 2015
Talbot Underwriting’s CEO Rupert Atkin will step down and take up the Chairman’s role early next year, Bermuda-based parent Validus Holdings says…
Tokio Marine cuts profit outlook as claims hit home
23 November 2015
Tokio Marine Holdings has reduced its earnings outlook by 9.5% for the year to March 31 following a sharp decline in half-year net profit…
Crawford & Co wields the axe to stem the bleeding
16 November 2015
Global loss adjustor Crawford & Company has reported a net loss of $US900,000 in the third quarter, a massive plunge from its net profit of $US10.2 million in the corresponding quarter last year…
Ebix hailed at ACORD awards
16 November 2015
Ebix Consulting for Life & Annuity Insurance has been honoured at the Association for Co-operative Operations Research and Development awards…
New US bidder joins race for Xchanging
16 November 2015
New York-listed Computer Sciences Corporation has put in a last-minute offer of £421 million for UK-based insurance outsourcing company Xchanging…
Mergers set to continue: Moody’s
16 November 2015
Insurance industry mergers and acquisitions are at their highest level for years and the trend is set to continue, according to Moody’s…
Cooper Gay to exit North America market
16 November 2015
UK-based global reinsurance broker Cooper Gay Swett & Crawford has announced plans to sell its entire North America business…
Bermuda leads as ILS market marches on
16 November 2015
The global insurance-linked securities market continued to expand in the third quarter, according to the Bermuda Monetary Authority’s market report…
Hiscox ‘strategy is working’
16 November 2015
Bermuda-based specialist (re)insurer Hiscox reports gross written premium of £1.54 billion for the first nine months of this year, up 12.9%…