Insurers ‘sceptical’ of booming cyber-risk market
21 March 2016
Increased digitisation and interconnectivity have made cyber threats “one of the top global perils” of this year and beyond, according to research group IDC Financial Insights…
International
Most insurers wary of disruptive innovators
21 March 2016
About 74% of insurers say the industry is most at risk over the next five years from fintech firms – financial technology players encroaching on their turf, according to a new PricewaterhouseCoopers report…
Aviation industry survey reveals diverse risk environment
21 March 2016
Legal scrutiny associated with mergers and acquisitions is considered the biggest risk facing the aviation industry today, according to a management survey…
El Nino at ‘heart of record-breaking cyclones’
14 March 2016
The southern hemisphere suffered its strongest tropical cyclones on record last month, according to the latest Global Catastrophe Recap from modeller Impact Forecasting…
Marsh exec set to run ACORD
14 March 2016
Global insurance data standards group ACORD has appointed Bill Pieroni as its new President and CEO…
Lloyd’s director bolts to BHSI
14 March 2016
Lloyd’s Director of Performance Management Tom Bolt is to head up Berkshire Hathaway Specialty Insurance’s forthcoming foray into Europe when he leaves the market in a few months…
UK management accountability regime kicks in
14 March 2016
The UK Senior Insurance Managers Regime is now in force, the Financial Conduct Authority and Prudential Regulation Authority have announced…
Hannover Re posts another record profit
14 March 2016
Hannover Re recorded net income of €1.15 billion last year, up 16.7% on 2014…
Marsh names new president
14 March 2016
Marsh has appointed former AIG commercial insurance CEO John Doyle as President, effective from April 15…
Xchanging sinks into red
14 March 2016
UK-based insurance outsourcing business Xchanging made a net loss of £52.7 million last year, compared with a £29.4 million profit in 2014…
Crawford reports 2015 loss due to restructuring
14 March 2016
Global claims services group Crawford & Company has reported a net loss of $US45.5 million for the 12 months ending December 31…
China’s territorial fights and economy ‘threaten Asia’s stability’
14 March 2016
Maritime territorial disputes in Asia and China’s economic “rebalancing” are among key risks facing the region this year, according to Aon’s annual Political Risk Map…
Charles Taylor raises revenue, seeks acquisitions
14 March 2016
Insurance services company Charles Taylor has reported a 17% increase in revenue to £143 million for the year ending December 31…
Fiji cyclone claims fall within Tower excess
07 March 2016
New Zealand insurer Tower estimates losses from Cyclone Winston in Fiji will fall within its main catastrophe reinsurance cover, which has an excess of $NZ10 million…
FCA value comparator to boost competition
07 March 2016
The UK’s Financial Conduct Authority is to trial a value comparison website, in a bid to increase competition…
Complex emerging risks ‘a leadership responsibility’
07 March 2016
Increasing global economic integration, technological advances and geopolitical friction are “profoundly complicating the risk landscape”, a Marsh McLennan report warns…
XL to quit Ireland for Bermuda
07 March 2016
XL Group is to move its registered office from Ireland to Bermuda, to better suit its global operations…
Catastrophes slash Liberty Mutual profit
07 March 2016
Liberty Mutual recorded a 72% slide in net profit last year as global catastrophes, currency exchanges and energy-related losses squeezed earnings…
Europe faces more storm losses: Munich Re
07 March 2016
Storm losses in Europe are projected to rise amid evidence climate change is causing more severe events, according to Munich Re…
US rates remain in negative territory
07 March 2016
The overall composite premium rate for US property and casualty insurance remained down 4% in February, a month typically marked by slow activity, according to analyst MarketScout…