Red Cross demands action on disaster mitigation
17 October 2016
The Red Cross has called for urgent investment in mitigation as it struggles to respond to more frequent and intense natural disasters and the biggest refugee crisis since World War II…
International
Megacity growth ‘poses insurance challenges’
17 October 2016
The rising number of global megacities will increase risks from natural catastrophes and other events, according to an Allianz Global Corporate & Specialty report…
China, India, Kenya top JLT Re’s emerging markets list
17 October 2016
Emerging economies are expected to grow at 2-3 times the pace of developed markets over the next five years, providing a huge opportunity for insurers, according to JLT Re…
Aon creates cyber giant with Stroz Friedberg deal
17 October 2016
Aon Risk Solutions will acquire US risk management business Stroz Friedberg, cementing its position as a global leader in cyber-risk brokerage and management…
Insurers ‘strong enough to cover Hurricane Matthew bill’
10 October 2016
US insurers can absorb costs arising from Hurricane Matthew, which is causing considerable flooding in the US coastal state of North Carolina as it heads back into the Atlantic…
Japanese giant Sompo spends $8 billion on Bermudan acquisition
10 October 2016
Sompo Holdings will pay $US6.3 billion in cash to buy Bermuda-based Endurance Specialty Holdings, which has huge operations in the US and UK…
Brexit talks ‘need insurer input’
10 October 2016
UK financial services businesses, including insurers, must give the Government as much support as possible so the country leaves the European Union with the best deal for its economy, according to KPMG…
Hermine storm damage ‘was wake-up call’ for Florida
10 October 2016
Damage from Hurricane Hermine last month provided a reminder of the risks faced by Florida after more than a decade without a similar storm crossing the US state’s coastline, according to Impact Forecasting…
UN insurance group settles on disaster resilience plan
10 October 2016
The United Nations-backed Insurance Development Forum has agreed a risk management strategy for regions vulnerable to climate and disaster hazards…
Cat losses and auto woes drive US insurers to underwriting loss
10 October 2016
US private property and casualty insurers reported a $US1.5 billion first-half underwriting loss, sliding into the red during the period for the first time since 2012…
Britons make more general insurance complaints
10 October 2016
UK general insurance complaints, excluding payment protection, increased in the first six months of the year compared with the second half of last year, the Financial Conduct Authority says…
FM Global bulks up cyber coverage
10 October 2016
Commercial property insurer FM Global has unveiled Cyber Optimal Recovery, an endorsement to its all-risk Global Advantage policy…
US personal rates up as business cover ‘stand-off’ continues
10 October 2016
US business insurance rate movement held steady at minus 1% last month, while personal lines insurance rates were up 2%, according to analyst MarketScout…
Brexit blues extend low-confidence streak
03 October 2016
UK financial companies, including insurers, feel less optimistic following the national vote to leave the EU, a quarterly PricewaterhouseCoopers survey has found…
Myanmar to open doors to foreign insurers
03 October 2016
Myanmar will let foreign insurers enter early next year as part of a broader push to develop its financial services sector, according to local news reports…
Crisis management on rise as terror risk changes: Aon
03 October 2016
Increased terror risk in Europe and the US has driven companies to focus more on their crisis management plans, according to Aon…
FEMA seeks reinsurance back-up as claims rise
03 October 2016
The US Federal Emergency Management Agency is turning to reinsurance markets for flood cover for the first time, after disasters in recent years caused its debt levels to rise…
Swiss Re exec takes Lloyd’s Singapore role
03 October 2016
Lloyd’s has named Angela Kelly as Country Manager Singapore, a role currently carried out by Asia-Pacific CEO Kent Chaplin…
BIBA hails turnover growth, new projects
03 October 2016
The British Insurance Brokers’ Association’s turnover grew 8.8% to £5.99 million last year…
Arch raises capital to fund acquisitions
03 October 2016
Arch Capital has conducted a public offering of 18 million depositary shares at $US25 each to fund two major acquisitions, one of which will make it the largest private mortgage insurer in the world…