Australian disasters cost $2.7 billion
20 October 2014
Disasters cost Australia at least $2.7 billion last year, affecting about 8940 people and claiming 22 lives, according to the International Red Cross…
International
IPCC finalises climate change report
20 October 2014
The United Nations Intergovernmental Panel on Climate Change has launched the final version of its comprehensive report on impact, vulnerability and adaptation…
San Francisco quake would be ‘financially devastating’
20 October 2014
Earthquake risk in the San Francisco Bay Area is growing, according to catastrophe risk modeller RMS…
Record year for ILS ‘incredibly likely’: Willis
20 October 2014
The global non-life insurance-linked securities market remains on course for a record year despite a subdued third quarter, Willis Capital Markets & Advisory says…
Profit margins feel squeeze in Britain
20 October 2014
UK insurers’ profit margins are under pressure as companies fight to maintain pricing in an extremely competitive market, according to a report by AM Best…
RIMS urges proactive claims management
20 October 2014
Proactive claims reporting and management can provide a huge boost to organisations, the US-based Risk and Insurance Management Society says…
Insurers ‘can play major role in G20 growth’
20 October 2014
The Global Federation of Insurance Associations has written to the Australian G20 presidency to emphasise the industry’s importance in achieving growth ambitions…
Chinese insurers ‘have capacity for payouts’: Aon
13 October 2014
Chinese insurance companies have the capacity to pay claims but anyone doing business in the market must follow the proper processes, the Aon Advanced Risk Finance Conference has heard…
UK insurers see gloom ahead
13 October 2014
British general insurers are less optimistic about their prospects than they were a few months ago, according to a Confederation of British Industry and PricewaterhouseCoopers survey…
US commercial rates creep up
13 October 2014
US commercial insurance rates increased by an average of 1.5% last month, according to analyst MarketScout…
Arizona floods take heavy toll
13 October 2014
Floods in Arizona last month were some of the worst since 1970 and caused insured losses of about $US100 million ($112.66 million), according to Impact Forecasting…
P&C sector lifts half-year profit
13 October 2014
US property and casualty insurers earned net income after tax of $US26 billion ($29.7 billion) in the half-year to June 30, up from $US24.4 billion ($27.9 billion) in the corresponding…
Global broker makes Sullivan Chairman
13 October 2014
Former AIG president and CEO Martin Sullivan has become Chairman of global reinsurance, wholesale and specialty broker Cooper Gay Swett & Crawford…
BrokersLink widens its reach
13 October 2014
International brokerage network BrokersLink has expanded its membership base to Slovenia, Serbia and Nigeria, and says its new incorporated company structure will deliver further growth…
Allianz names its new CEO
06 October 2014
Allianz executive Oliver Bate is to take over as CEO from Michael Diekmann, who will step down after the group’s annual general meeting next May…
Munich Re to establish regional marine unit in HK
06 October 2014
Munich Re is to set up an Asia-Pacific marine reinsurance underwriting centre in Hong Kong next year…
UK increases scrutiny on insurance execs
06 October 2014
The Bank of England and other regulators are developing a regime to improve the accountability of key executives of insurance companies…
Cyber incidents rise 48%, survey shows
06 October 2014
The number of cyber-related security incidents increased 48% to 42.8 million last year, according to a PricewaterhouseCoopers worldwide survey…
Fed quizzes insurers on regulatory impacts
06 October 2014
The US Federal Reserve has launched a “quantitative impact study” to evaluate the effects of its revised regulatory capital framework for insurance companies…
Global ILS market sets record in Q2
06 October 2014
The global insurance-linked securities market grew 38% to a record issuance volume of $US4.6 billion ($5.2 billion) in the second quarter of this year, according to a…