AM Best downgrades reinsurance outlook
25 August 2014
AM Best has cut its outlook for the global reinsurance sector to negative, with market headwinds presenting “significant” long-term challenges for the industry…
International
Ironshore sell major stake to Chinese investor
25 August 2014
Chinese investment group Fosun has bought a 20% stake in Bermuda-based insurer Ironshore for $US463.83 million ($498.84 million)…
S&P calls for feedback on ratings
25 August 2014
Standard & Poor’s wants comments on its proposed revised methodology for assessing lenders’ mortgage insurance as a form of credit enhancement in global residential…
Cat losses dent Amlin earnings
25 August 2014
Lloyd’s insurer and reinsurer Amlin says net profit fell 2.9% to £136 million ($243.39 million) in the first half, as large catastrophe losses grew 52% to £48.9 million ($87.51 million)…
SMEs drawn to cyber-cover
18 August 2014
Cyber insurance is generally considered a “top end of town” purchase but it is now attracting small and medium-sized enterprises in the US, according to Swiss Re Chief Economist Kurt Karl…
Bermuda the ‘Silicon Valley of risk’
18 August 2014
The Bermuda Monetary Authority registered 36 new insurance companies in the first half, two more than in the corresponding period last year…
Pressure grows on reinsurers: S&P
18 August 2014
Increasing competition, declining premiums and an influx of third-party capital is turning up the heat on global reinsurers, according to a report from Standard & Poor’s…
Lloyd’s enjoys strong year: Aon
18 August 2014
Lloyd’s is showing momentum after starting the year with record underwriting capacity and 93 active syndicates, according to Aon Benfield…
Ex-Zurich chief Jim Schiro dies
18 August 2014
Former Zurich Insurance CEO Jim Schiro has died aged 68…
Fall in catastrophes, rise in start-ups flatten reinsurance premiums
18 August 2014
Natural catastrophes continue to drive the growth of Asian reinsurance markets, according to a report on the sector by Fitch Ratings in Hong Kong…
Brit GWP rises, profit dips
18 August 2014
Global specialty insurer and reinsurer Brit says first-half net profit fell 18% to £56.6 million ($101.5 million) as foreign exchange movements and initial public offering costs hit earnings…
Restructure costs push Achmea into the red
18 August 2014
Dutch general, life and health insurer Achmea has posted a net loss of €58 million ($83.34 million) for the first half of this year, as costs associated with its restructure reversed…
Chinese typhoon proves costliest event this year
11 August 2014
Super Typhoon Rammasun, which hit the Philippines and China last month, is the costliest weather event of the year so far, according to Impact Forecasting…
Indian investment cap legislation stalls
11 August 2014
Legislation that could pave the way for IAG to raise its stake in an Indian joint venture has stalled amid parliamentary wrangling in Delhi…
AIG increases profit as Benmosche bows out
11 August 2014
AIG says profit grew 12.5% to $US3.07 billion ($3.29 billion) in the second quarter amid a significant drop in catastrophe losses…
P&C arm lifts Allianz
11 August 2014
Allianz says second-quarter net profit grew 10.5% to €1.76 billion ($2.54 billion), as the impact from natural catastrophes eased and life earnings increased…
Zurich welcomes ‘clear progress’ in first half
11 August 2014
Zurich Insurance Group has posted a net profit of $US2.11 billion ($2.27 billion) for the first half, up 14% on the corresponding period last year…
Catlin hits first-half profit record
11 August 2014
Bermuda-based insurer and reinsurer Catlin has reported record first-half profits…
Cat losses hit Liberty Mutual income
11 August 2014
Liberty Mutual has reported net income of $US393 million ($423 million) for the second quarter, down 12.3% as catastrophe losses increased 4.5% to $US676 million ($729.22 million)…
Tokio Marine sees economic green shoots in Q2
11 August 2014
Gradual recovery in the Japanese and US economies helped Tokio Marine Holdings increase profit by 37% to ¥116.18 billion ($1.23 billion) for the second quarter…