Tokio Marine chalks up higher profit
23 February 2015
Tokio Marine Holdings’ net profit increased 42% to ¥214.04 billion ($2.31 billion) in the nine months to December 31, driven by a US-led upturn in global economic growth…
International
Aon frees up funds for acquisitions
23 February 2015
Aon expects to double its free cashflow from $US1.5 billion ($1.92 billion) in 2012 to more than $US2.3 billion ($2.95 billion) a year by the end of 2017, CEO Greg Case says…
US commercial rates stay flat
23 February 2015
US commercial property and casualty rates again remained flat overall last month, after a 37-month run of rises ended in December, according to MarketScout…
Debt repayments dent AIG profit
16 February 2015
AIG’s net profit dropped 17.1% to $US7.53 billion ($9.69 billion) last year, pushed down by debt repayment costs…
Zurich has ‘much still to do’ after profit stalls
16 February 2015
Zurich Insurance Group made an operating profit of $US4.64 billion ($5.99 billion) last year, down 1% from 2013…
Private equity sell-offs ‘to drive London M&A’
16 February 2015
Large mergers and acquisitions have recently occurred in the London insurance market, and private equity groups looking to sell stakes are expected to drive activity over the next year, according to AM Best…
Right to be forgotten ‘could raise insurance cost’
16 February 2015
European insurers warn proposed laws on data protection may increase the cost of cover…
Scor limits price cuts at renewal
16 February 2015
Scor Global P&C achieved gross written premium of €2.8 billion ($4.13 billion) at the January 1 renewals, up 2.4% on last year…
Benign weather keeps cat losses down
16 February 2015
Natural catastrophe losses fell to $US110 billion ($142 billion) last year from $US140 billion ($181 billion) amid a mild North Atlantic hurricane season and an absence of major disasters, according to Munich Re…
Catlin records earnings rise
16 February 2015
Global insurer and reinsurer Catlin has posted a 6.6% rise in net profit to $US418 million ($541 million) for last year, fuelled by higher premium earnings…
Willis full-year profit dips
16 February 2015
Willis Group Holdings has reported net income of $US362 million ($467 million) for last year, down slightly from $US365 million ($471 million) in 2013…
Currency gains lift Arch Capital income
16 February 2015
Bermudian insurer and reinsurer Arch Capital recorded an 18.1% rise in net income to $US812.4 million ($1.05 billion) last year…
Risk managers hail insurance law reform
16 February 2015
The Association of Insurance and Risk Managers in Industry and Commerce has welcomed the UK Parliament’s unanimous approval of the Insurance Bill…
Terror pool unlikely to expand business interruption cover
09 February 2015
The UK’s terrorism pool has been criticised for failing to provide business interruption cover when there is no property damage…
BIBA calls for action on flood, motor cover
09 February 2015
UK brokers want more funding for flood defences, changes to riot laws that give businesses more time to make claims and more action on fraudulent motor claims, the British Insurance Brokers’ Association says in its manifesto for this year…
Obama targets reinsurance tax loophole
09 February 2015
US President Barack Obama proposes ending the reinsurance tax break enjoyed by foreign insurers writing in America that pay reinsurance premiums to their overseas affiliates…
Marsh, Guy Carpenter increase revenues
09 February 2015
Marsh & McLennan’s net profit grew 8% to $US1.46 billion ($1.87 billion) last year, as insurance and reinsurance revenue grew…
Fourth quarter drives Aon profit gains
09 February 2015
Global insurance broker and risk manager Aon has reported a net profit of $US1.43 billion ($1.83 billion) for last year, up 25% on 2013…
Brokerages drive Gallagher growth
09 February 2015
Arthur J Gallagher increased profit by 13% to $US303.4 million ($389.46 million) last year on a strong result from its brokerage operations…
Munich Re profit drops
09 February 2015
Munich Re has posted net profit of €3.2 billion ($4.6 billion) for last year, down from €3.3 billion ($4.8 billion) in 2013…