Brexit fears compound tough period for Lloyd’s
04 April 2016
Lloyd’s says the prospect of a British exit from the European Union has added to an already tough business landscape, after earnings fell 30% last year…
International
Black swan label an ‘excuse for poor risk management’
04 April 2016
The “black swan” theory on natural catastrophes and other crises that cannot be predicted no longer holds sway, according to Munich Re Chairman Nikolaus von Bomhard…
Rising demand gives reinsurers hope in soft market
04 April 2016
Reinsurance rates have fallen for the fourth consecutive year at the April 1 renewals, but increased demand and a slowing of price reductions provide a glimmer of hope, according to Willis Re’s latest 1st View report…
Industry must meet rising terror threat: JLT
04 April 2016
The global terrorism threat has entered a more complex phase and the (re)insurance industry must adapt, according to a JLT report…
Lloyd’s prepares to open Mumbai branch
04 April 2016
Lloyd’s will apply for a reinsurance branch in Mumbai following the publication of regulations governing the market by the Insurance Regulatory and Development Authority of India…
Ex-VP jailed for fraud against QBE
04 April 2016
Former QBE VP James Shea has been sentenced by a US judge to 18 months in jail for trying to cheat the Australian insurer out of $US2.6 million…
MetLife wins fight to drop ‘systematically important’ tag
04 April 2016
MetLife has won its fight in the US courts against being declared a systematically important financial institution…
Ironshore IPO on the cards
04 April 2016
Chinese conglomerate Fosun International has informed the Hong Kong stock exchange it is “considering pursuing” an initial public offering of wholly owned subsidiary Ironshore…
Appetite for risk statements rising: Willis Re
04 April 2016
The growing adoption of formal risk appetite statements within the insurance industry is driving a fundamental shift in reinsurance purchasing, according to Willis Re…
Insurers paid out far less for disasters last year: Swiss Re
04 April 2016
Global insured losses from natural and man-made disasters totalled $US37 billion last year, well below the $US62 billion average for the previous 10 years, according to Swiss Re’s latest Sigma study…
Risk costs trending down: RIMS
04 April 2016
North American businesses paid 2% less last year than in 2014 to cover the total cost of risk, according to this year’s Risk and Insurance Management Society Benchmark Survey…
Catastrophe losses ‘lowest since 2009’
04 April 2016
Insured losses last year were the lowest since 2009, according to Guy Carpenter’s Global Catastrophe Review…
Strong Talanx result ‘validates strategy’
04 April 2016
HDI Global parent Talanx has reported net income of €734 million for last year, the second-highest sum in the company’s history…
Currency, expenses drag down FM Global profit
04 April 2016
Commercial property specialist insurer FM Global says a 22.9% drop in net profit last year was due to a stronger US dollar and higher expenses…
February temperature record alarms scientists
21 March 2016
The global average surface temperature last month broke records by a “stunning” margin, prompting some scientists to declare a “climate emergency”…
Munich Re flags further profit falls
21 March 2016
Munich Re is braced for earnings to decline further after net profit fell 1.4% to €3.1 billion last year, hit by negative currency movements and impairment charges…
Flood of criticism as UK raises insurance premium tax
21 March 2016
UK Chancellor George Osborne has increased the insurance premium tax by 0.5 percentage points to 10% in his latest budget…
Lloyd’s creates new role to drive Indian expansion
21 March 2016
Lloyd’s has appointed Shankar Garigiparthy to the new role of Country Manager India, as part of its push into the country’s enormous market…
Crawford announces restructure
21 March 2016
Global claims management specialist Crawford & Company has announced a new structure featuring a “G6” executive team…
More British motorists take up telematics
21 March 2016
The number of UK motorists using telematics-based insurance policies to reduce premiums increased 40% last year, according to the British Insurance Brokers’ Association…