ILS global issue declines
01 February 2016
The global insurance-linked securities market issued $US6.9 billion of bonds last year, down from $US8.3 billion in 2014, as competition intensified, according to an Aon Securities report…
International
US P&C composite rate drops 4%
01 February 2016
MarketScout’s US property and casualty composite rate fell 4% in December, as insurers continued to fight for market share…
Swiss Re seeks agility in challenging environment
14 December 2015
Swiss Re has unveiled a “four-pillar” strategic framework to make the company more agile…
Regional chief to leave AIG
14 December 2015
President and CEO of AIG Asia-Pacific Jose Hernandez will leave the insurer as part of a major management reshuffle…
Business interruption impact rising, Allianz says
14 December 2015
Physical damage to property is an obvious and devastating result of natural catastrophes and man-made disasters, but the economic impact from business interruption is often much higher and presents a growing risk, according to Allianz Global Corporate & Specialty…
Xchanging endorses US tech company’s bid
14 December 2015
US-listed Computer Sciences Corporation is the new favourite to acquire Xchanging, after the UK-based insurance outsourcing business endorsed its offer – but other bidders including Ebix are still in play…
Willis Towers Watson merger wins shareholder nod
14 December 2015
Shareholders of Willis Group Holdings and Towers Watson have voted in favour of their $US18 billion “merger of equals”…
Reinsurance outlook negative: Moody’s
14 December 2015
Excess capacity and shrinking demand from primary insurers have created “sustained pressure on reinsurance pricing and erosion of terms and conditions”, according to ratings agency Moody’s…
Liberty sees life amid the wreckage of profit slump
14 December 2015
Liberty Mutual Insurance has reported a net loss of $US427 million for the September quarter, a dizzying reversal from a $US605 million net profit in the corresponding period last year…
UK storm payouts to top $500 million
14 December 2015
Insured losses from devastating floods in northern England are estimated at £250-£325 million, and are likely to rise if predictions of more bad weather prove correct, according to PricewaterhouseCoopers UK…
Slump in D&O pricing continues: Aon
14 December 2015
Premium pricing for global directors’ and officers’ liability insurance has fallen for the ninth consecutive quarter, according to the latest report from Aon Risk Solutions…
Senn goes as ‘setbacks’ sweep Zurich
07 December 2015
Zurich Insurance Group is searching for a new CEO to replace Martin Senn, who quit after a series of “setbacks” rocked the group…
Lloyd’s shines light on liability exposures
07 December 2015
Lloyd’s has released a report to help insurers better manage liability exposures, which are more complex because they are harder to conceptualise than natural catastrophes…
UK insurers face greater scrutiny from regulator
07 December 2015
The UK’s Prudential Regulation Authority will step up its oversight of the insurance industry, which must conform to Europe’s Solvency II regulatory regime from January 1…
XL Catlin backs resilience at Paris talks
07 December 2015
XL Catlin CEO Mike McGavick told the Paris climate change conference the (re)insurance industry will strive to support resilience and disaster risk reduction…
Low returns rock marine underwriters
07 December 2015
Low interest rates mean insurers can no longer rely on robust investment returns and must understand and reduce their growing vertical and horizontal exposures, according to the American Institute of Marine Underwriters…
Get with the program on cyber risk: AM Best
07 December 2015
Insurers can improve their cyber-risk profiles and avoid unnecessary litigation by designing new policies, creating single-risk limits and establishing contingency reserves, AM Best says…
Lloyd’s pledges more leadership on climate change
07 December 2015
Lloyd’s says it will continue to play a key role on climate change risk analysis, supporting awareness among consumers and reducing environmental impacts…
Bermuda gains Solvency II approval
07 December 2015
The European Commission has recognised the Bermuda Monetary Authority’s prudential framework for reinsurance as meeting the impending Solvency II requirements…
US P&C rates continue decline
07 December 2015
US commercial property and casualty rates fell 3% last month after dropping 2% in October, according to analyst MarketScout…