Region helps drive global premium gains
29 June 2015
The global insurance industry gained momentum last year thanks to “very strong growth” in Oceania and “solid” results in western Europe and Japan, Swiss Re’s latest Sigma report shows…
International
Lloyd’s maintains strong run
29 June 2015
Lloyd’s operating performance remains strong despite starting the year with reduced underwriting capacity and 92 active syndicates, one less than last year, according to Aon Benfield…
PartnerRe backs Axis deal, berates Exor
29 June 2015
PartnerRe has again urged its shareholders to vote for its planned merger with Axis Capital Holdings, while exchanging tit-for-tat accusations with hostile bidder Exor over allegedly misleading information…
Q1 cat bond record hints at ‘big things’ ahead
29 June 2015
A “diverse and steady” stream of new issuances helped create a “dynamic” catastrophe bond market in the first quarter of this year, according to Guy Carpenter…
JLT Re promotes Australian to global role
29 June 2015
JLT Re has promoted Australian Craig Brokenshire from Singapore-based Asia-Pacific COO to Global COO…
British regulator looks to quantify value of add-ons
29 June 2015
The UK’s Financial Conduct Authority has published a discussion paper on product value transparency in the general insurance add-ons market…
Fed defends AIG bailout
22 June 2015
The US Federal Reserve says its actions to rescue AIG at the height of the financial crisis in 2008 were “legal, proper and effective”…
ILS market secures first-quarter record
22 June 2015
A record 15 insurance-linked securities worth $US2.1 billion were issued in the first quarter, according to the Bermuda Monetary Authority…
Global food shock looms as challenge to insurers: Lloyd’s
22 June 2015
A new report paints a bleak picture of an “overstretched global food system” collapsing under the pressure of climate change-induced weather catastrophes, plant pandemics and surging food prices, with the potential to trigger economic and humanitarian crises…
Ex-QBE exec on fraud charge
22 June 2015
A former QBE US executive faces embezzlement charges after the Federal Bureau of Investigation uncovered what it alleges is a fake invoicing racket…
TRIA ‘may follow Australian example’
22 June 2015
The US terrorism pool may follow Australia’s lead and begin purchasing private reinsurance, according to a new report from the Congressional Budget Office…
Directors warned of D&O gaps for cyber attacks
22 June 2015
Company directors may face costly lawsuits if they are negligent in preventing or managing cyber attacks, according to Marsh…
Poor cargo handling swells marine losses: Allianz
22 June 2015
Significant damage to ships and cargoes is rising due to a lack of skills and resources for handling heavy lifts, Allianz Global Corporate & Specialty says…
UK companies ‘falling short on risk culture’
22 June 2015
About 70% of UK businesses have failed to embed positive risk cultures, despite rising risk exposures, according to a QBE European Operations survey…
Auto drives US commercial premiums
22 June 2015
US commercial premiums grew 2% in the first quarter of this year, according to consultants Towers Watson…
Insurers chase profits in political risk
22 June 2015
Insurers are pumping more resources into political risk coverage, which offers better returns than traditional property and casualty lines, according to a Marsh report…
KPMG urges greater industry innovation
15 June 2015
Insurers are missing opportunities to play a more prominent role in tackling global challenges such as climate change, disaster resilience and infrastructure investment because they lack innovation, according to a report from KPMG…
Global cyber cover worth almost $200 billion
15 June 2015
Cyber-risk coverage worldwide is about $US150 billion, with a take-up rate across all industries of about 16%, according to a new report by Standard & Poor’s that cites estimates from Marsh…
Global warming hiatus ‘a myth’
15 June 2015
The rate of global warming has not slowed down, according to research by the US-based National Oceanic and Atmospheric Administration…
Tokio Marine buys US insurer HCC
15 June 2015
Tokio Marine will buy US-based HCC Insurance Holdings for $US7.5 billion as part of a continuing acquisition drive…