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International

Allianz revives China ambition, exits coal investment

30 November 2015

Allianz has teamed up with Chinese internet search giant Baidu and Asian investment company Hillhouse Capital Group to establish an online insurance company in the world’s second-biggest economy…

US cyber cover defies global rate slump

30 November 2015

US cyber-insurance rates increased more than 15% on average in the third quarter, bucking the composite commercial lines decline of 4.8%, according to Marsh…

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…

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…

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…

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…

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…