Liberty adds $US6.5 billion to reinsurance cover
28 July 2014
Liberty Mutual has paid $US3 billion ($3.2 billion) to Berkshire Hathaway to increase its reinsurance cover by $US6.5 billion ($6.9 billion)…
International
First-half disaster losses fall below average
28 July 2014
Aon Benfield subsidiary Impact Forecasting says first-half global economic and insured disaster losses were well below average – but it warns the worst could lie ahead…
Aon Q2 profits rise
28 July 2014
Aon has reported an increase in second-quarter profits, despite falling reinsurance revenue…
Ace profit dips in second quarter
28 July 2014
Ace says second-quarter net profit fell 12.5% to $US779 million ($826 million) on weaker earnings in its North American agriculture and global reinsurance divisions…
Catastrophes dent Chubb result
28 July 2014
Chubb says its premium income increased in the second quarter, but higher catastrophe losses triggered a 14% drop in profit to $US499 million ($530.89 million)…
Allied doubles up on profits
28 July 2014
Global insurer and reinsurer Allied World has reported first-half net income of $US329 million ($350 million), more than double the $US157 million ($167 million) it posted…
US recovery lifts Beazley profit
28 July 2014
A stronger US economy and a turnaround in Australia have helped Dublin-based Beazley post a 58% rise in profit to $US114.1 million ($121.13 million) for the six months to June 30…
RGA returns to profit
28 July 2014
Reinsurance Group of America (RGA) has reported a net profit of $US198.3 million ($210.1 million) for the second quarter, compared with a net loss of $US49.6 million ($52.6 million)…
Comparison sites failing consumers: UK regulator
21 July 2014
UK price comparison websites fail to meet consumer expectations and in some cases fall short of regulatory standards, the Financial Conduct Authority warns…
Allianz lead insurer for ill-fated flight
21 July 2014
Allianz is the lead insurer for the Malaysia Airlines jet shot down last week over eastern Ukraine, killing all 298 people on board…
TRIA extension passes Senate
21 July 2014
Industry groups have welcomed the US Senate’s support for a seven-year renewal of the Terrorism Risk Insurance Act…
Overcapacity creates buyers’ market
21 July 2014
Overcapacity in the international construction, property and casualty markets this year has prompted rate reductions of up to 30% for commercial insurance buyers, according to a Willis report…
Ironshore opens in Hong Kong
21 July 2014
Ironshore International has opened a Hong Kong office to increase its presence in the Asia-Pacific region…
UK insurers urge transparency on two-tier pricing
21 July 2014
The Association of British Insurers says explanations of introductory price offers should be included on policy documents, to improve clarity for new customers…
UK moves to update commercial insurance laws
21 July 2014
The UK Treasury has announced reforms to modernise commercial insurance laws and reduce legal disputes over business claims…
Cyber attacks on the increase
21 July 2014
The number of US organisations to publicly disclose cyber attacks and data breaches grew to 614 last year from 449 in 2012, according to the Insurance Information Institute…
Digital slander and concussions emerge as risks
14 July 2014
Cloud computing, deflation, digital slander and concussions in sport are among emerging risks featured in a new Swiss Re report…
Natural catastrophe losses fall below average
14 July 2014
Global natural catastrophe claims were “pleasingly low” in the first half of the year, according to a Munich Re report…
Reinsurance prices drop at July renewals
14 July 2014
Abundant reinsurance capital and minimal losses led to prices dropping across almost all lines and regions at the July 1 renewals…
Catastrophe bond yields take a hit
14 July 2014
Returns on catastrophe bonds are falling as more investors enter the market and supply outstrips demand…