Flood Re chief sets April start date
15 June 2015
The UK Government’s flood reinsurance pool, Flood Re, will go live in April next year after “extensive testing”…
International
G7 vows to widen insurance coverage
15 June 2015
Leaders from seven leading economies have cited insurance as part of a pledge to build resilience in countries vulnerable to climate change risk…
British insurers fear EU exit
09 June 2015
UK insurers have warned of the consequences if Britain leaves the European Union, with a referendum on the issue expected next year…
Reinsurance prices moderate
09 June 2015
Reinsurance prices moderated at the June 1 renewals, partly due to price reductions from previous seasons and significant amounts of new limits, according to Guy Carpenter…
AIG seeks smooth progress
09 June 2015
Achieving “sustainable growth” is a priority for AIG, according to CEO Peter Hancock…
London market feels pressure: AM Best
09 June 2015
Changing dynamics and intense competition are challenging the London insurance market, according to an AM Best report…
US storm bill nears $US3 billion
09 June 2015
Impact Forecasting estimates economic and insured losses of almost $US3 billion arising from the storms and floods that hit Texas and Oklahoma last month…
Most RIMS members buy cyber cover, survey shows
09 June 2015
The US-based Risk and Insurance Management Society has held its first Cyber Survey, in a bid to share knowledge and experience of the growing threat…
Tread carefully on expansion path: AM Best
09 June 2015
Insurers should exercise prudence when growing and diversifying their businesses, AM Best warns…
XL Catlin reaps benefits of merger success
09 June 2015
XL’s acquisition of Catlin is expected to lead to savings of $US250 million, up from the original $US200 million estimate…
US rates in ‘holding pattern’
09 June 2015
Rates for US property and casualty insurance held steady last month compared with the previous year, according to analyst MarketScout…
Cyber cover ‘essential’ in 10 years: ABI
01 June 2015
The Association of British Insurers believes cyber cover will become as commonly purchased as property insurance within a decade…
Insurers count cost of US storm damage
01 June 2015
Severe storms which have killed 42 people in the US and Mexico and flooded hundreds of homes could top more than $US1 billion for motor vehicle insurance losses alone, according to the Insurance Council of Texas…
UK working group explores ILS prospects
01 June 2015
A new working group will support the push to establish London as a hub for insurance-linked securities, also known as catastrophe bonds…
Investments, cat losses hit US P&C income
01 June 2015
Private US property and casualty insurers’ net income fell 12.5% to $US55.5 billion last year, mainly due to lower investment income and higher catastrophe losses, according to a new report…
RIMS backs bills on cyber-security, rip-offs
01 June 2015
The US-based Risk and Insurance Management Society has backed two bills aimed at streamlining data breach notification and protecting organisations’ insurance investments…
Tokio Marine makes gains amid global recovery
01 June 2015
Tokio Marine has reported a net profit of ¥247.44 billion for the year to March 31, up ¥63.3 billion on the previous year…
Experts flag below-average Atlantic hurricane season
01 June 2015
A below-normal Atlantic hurricane season is likely, according to the National Oceanic and Atmospheric Administration…
PartnerRe spurns Exor, proceeds with Axis vote
25 May 2015
PartnerRe will ask shareholders to vote on a planned merger with Axis Capital Holdings after hostile bidder Exor declined to raise its $US6.8 billion offer…
QBE appoints Hong Kong CEO
25 May 2015
Mark Walker will become QBE’s new Hong Kong CEO in July…