AM Best puts Ironshore under review after Fosun deal
10 August 2015
AM Best has placed Ironshore’s ratings under review, with negative implications, following the takeover of the Bermuda-based insurer by Chinese conglomerate Fosun…
International
Ebix reports rising Q2 profit
10 August 2015
Global insurance industry software provider Ebix has reported second-quarter net income of $US19 million, up 40% on the corresponding period last year…
US storms to cost insurers $440 million
10 August 2015
Storms that hit the US last month are expected to generate insurance losses of more than $US325 million, according to Impact Forecasting…
US rates moving up
10 August 2015
After four months of stagnation, US commercial rates increased 1% last month, while a composite index of personal lines rates gained 2%, according to analyst MarketScout…
Fair weather batters Crawford & Co
10 August 2015
Low claims volumes and corporate costs cut Crawford & Company’s net profit by more than half in the June quarter, down to $US4.05 million from $US10.46 million in the corresponding period last year…
Scientists predict another mild hurricane season
10 August 2015
US researchers expect a below-average Atlantic hurricane season, estimating eight named storms between June 1 and November 30…
Rate reductions ease in UK personal lines
10 August 2015
The rate of decline in UK home and motor premiums is slowing after three years of reductions, according to the British Insurance Brokers’ Association…
Zurich confirms RSA is takeover target
03 August 2015
Zurich Insurance Group has confirmed its interest in acquiring British company RSA Insurance Group…
Lloyd’s applies for Malaysian reinsurance licence
03 August 2015
Lloyd’s will apply for a reinsurance licence in Malaysia and open an office in Kuala Lumpur, the UK and Malaysian governments have announced…
Cost of risk falling, RIMS says
03 August 2015
The cost of risk fell last year after three years of increases, and the market continues to soften, according to the annual Risk Insurance Management Society’s US Benchmark Survey…
Bill Berkley hands reins to his son
03 August 2015
WR Berkley Chairman and CEO Bill Berkley is handing over as CEO of the company he founded in 1967 to son Robert…
Aon Q2 profit slumps
03 August 2015
Aon has reported second-quarter net income of $US188 million, down 40% on the corresponding period last year…
Strong dollar pushes down Marsh & McLennan profit
03 August 2015
Marsh & McLennan’s net profit dropped 2.7% to $US419 million in the second quarter, mainly due to the strong US dollar…
Profit rises sharply for growing Gallagher
03 August 2015
Strong organic growth and acquisitions helped Arthur J Gallagher increase profit by 28% to $US139.3 million in the June quarter…
Willis reports profit rise
03 August 2015
Willis has reported second-quarter net income of $US70 million, up 49% on the corresponding period last year…
US commissioners release cyber security ‘bill of rights’
03 August 2015
The US National Association of Insurance Commissioners has released a draft cyber security “bill of rights” that sets standards to help consumers if personal information is compromised…
Swiss Re cashes in despite tough market
03 August 2015
Swiss Re has reported an 11% increase in net profit to $US2.3 billion for the first half of this year…
Scor result defies industrial losses
03 August 2015
Scor increased profit by 28% to €327 million in the first half, despite unusually high major industrial losses…
Premium dip dents Arch income
03 August 2015
Arch Capital says net income fell 45% to $US110.3 million in the second quarter, driven by lower investment income and premium returns…
Rates defy gravity: Hiscox
03 August 2015
Hiscox has reported a half-year profit of £129.38 million, rising 8% in a market Chairman Robert Childs says is “defying gravity”…