UK holds execs to account
19 October 2015
The UK Government has strengthened provisions requiring financial services managers in the non-banking sector to take personal responsibility for their decisions…
International
Interest rates keep pressure on in Europe
19 October 2015
The European insurance sector remains under pressure, Moody’s warns…
Competitive pressure proves No.1 worry for SMEs
12 October 2015
SMEs are most worried about their margins being squeezed by competition, according to an annual survey by Zurich Insurance Group…
Bidding war breaks out over Xchanging
12 October 2015
Loss-making insurance outsourcing company Xchanging is at the centre of a bidding war between larger rival Capita and US private equity group Apollo Global Management…
Cyber tops executive concerns, survey shows
12 October 2015
Companies rate cyber and IT as their greatest areas of risk, according to a Marsh Risk Consulting global survey…
US wildfire claims lead September losses
12 October 2015
California was scorched by wildfires last month, with insured losses passing the $US1 billion mark, according to the latest catastrophe report from Aon Benfield subsidiary Impact Forecasting…
RIMS examines opt-out trend in US workers’ comp
12 October 2015
The Risk and Insurance Management Society has issued a report examining recent changes to US state-based workers’ compensation schemes, including the option now available in some states for employers to opt out…
Transport specialist TT Club reports stable performance
12 October 2015
Global transport and logistics industry insurer TT Club has reported a steady performance for the first eight months of this year, despite challenging conditions…
US P&C rates fall
12 October 2015
US property and casualty rates fell last month after holding steady in August, amid signs insurers are becoming more aggressive, according to MarketScout…
Berkshire cuts Munich Re stake, exits London deals
05 October 2015
Warren Buffett’s Berkshire Hathaway and its subsidiary National Indemnity have reduced their collective shareholding in Munich Re from 12% to less than 10%…
Zurich outlook negative, AM Best says
05 October 2015
AM Best has revised the outlook for Zurich Insurance Company and some affiliates to negative from stable, following unexpectedly high losses…
Clem Booth to chair Dual
05 October 2015
London-based Dual International has appointed former Allianz board member Clem Booth as its non-executive Chairman…
Insurance ‘can help end poverty’
05 October 2015
Managing risk is crucial in alleviating global poverty, according to the International Insurance Society…
Cyber-insurance limits ‘too small’
05 October 2015
The cyber-insurance market needs more capacity and could require coverage limits up to $US1 billion, according to a report from the US Federal Insurance Office…
Local groups lead disaster response: Red Cross
05 October 2015
Local humanitarian workers need greater recognition for the role they play in disaster response, according to the Red Cross…
Zurich axes RSA bid as Tianjin blasts spark loss
28 September 2015
Zurich Insurance Group has dropped its £5.6 billion bid for UK-based RSA Insurance Group after revealing its general insurance arm will lose about $US200 million in the third quarter…
Beazley heads Lloyd’s cyber-cover consortium
28 September 2015
Beazley and fellow operators of Lloyd’s syndicates Aspen Insurance and Brit Global Specialty have created the International Cyber Consortium to underwrite data breach coverage for non-US businesses…
QBE moves to expand credit and surety business
28 September 2015
QBE GM Credit and Surety Richard Wulff will relocate to Hong Kong in January to build the insurer’s credit and surety business in the region…
Cyber attacks cost $US315 billion in year: report
28 September 2015
The global cost of cyber attacks over the past year is estimated at $US315 billion, according to a report from financial consultants Grant Thornton…
S&P cuts ratings on Japanese insurers
28 September 2015
Standard & Poor’s has downgraded its ratings on 10 Japanese insurers, including some foreign subsidiaries…