Catastrophe bond issuance hits record high
14 July 2014
Investors continued pouring into the reinsurance market in the second quarter, with a record volume of non-life catastrophe bonds issued…
International
Commercial rates ‘adjust down’
14 July 2014
Growth in US commercial rate slowed to 2% last month, compared with 3% in May, according to analyst MarketScout…
Costa Concordia salvage costs give insurers sinking feeling
14 July 2014
The massive operation to refloat and remove the stricken cruise liner Costa Concordia, which sank off the coast of Italy in January 2012, will end up costing more than $US2 billion…
FM Global makes changes at the top
14 July 2014
US-based mutual insurer FM Global has reshuffled its executive management team, with Thomas Lawson to take over from Shivan Subramaniam when he retires from…
Mid-year reinsurance renewals tumble
07 July 2014
Reinsurance rates slumped at the June and July renewals, and weak market conditions may persist into next year, according to Willis Re…
Marsh & McLennan tops broker chart
07 July 2014
Marsh & McLennan is the world’s biggest insurance broker by revenue for the fifth consecutive year, according to AM Best’s annual top 20…
Swiss Re vows to hit targets
07 July 2014
Swiss Re remains “fully committed” to its 2011-15 financial targets after three years of strong performance, Group CEO Michel Liès says…
Europe suffers billion-dollar hail losses
07 July 2014
The first month of the US hurricane season passed without incident, but insurers incurred billion-dollar losses from hail and thunderstorms in Europe and the US…
US P&C income dips
07 July 2014
US property and casualty insurers reported a collective net income of $US13.8 billion ($14.7 billion) in the first quarter of this year, new statistics show…
Moody’s tips 20% spike in Chinese premiums
07 July 2014
Chinese property and casualty premiums should grow 15-20% in the next 12-18 months, partly driven by greater participation from foreign insurers, Moody’s says…
Capital rules drive insurer divestments
07 July 2014
Regulatory capital is the biggest driver of divestments in the insurance sector, according to a study by Ernst & Young…
Global capital rules face US rebellion
30 June 2014
US insurance regulators may refuse to apply new global capital rules, arguing the timelines are unrealistic…
Prince outlines insurance role in climate change action
30 June 2014
Businesses have been urged by Britain’s Prince Charles to disclose their exposure to natural disasters, to “help concentrate the mind” and encourage them to improve their resilience…
Developed markets put brake on global premium growth
30 June 2014
Premiums written in the global insurance industry grew only 1.4% to $US4.64 trillion ($4.95 trillion) last year, according to the latest Swiss Re Sigma report…
Insurers’ role critical as disasters rise: KPMG
30 June 2014
Insurers have an increasingly important role in improving international disaster resilience as weather-related losses rise, according to KPMG…
Willis calls for disaster risk disclosure
30 June 2014
Companies should have to disclose natural disaster risks in the same way they do threats from currency movements and regulatory changes, Willis Group CEO Dominic Casserley says…
Alternative capital ‘forces industry to evolve’
30 June 2014
Reinsurers and the entire property and casualty industry must evolve as new capital reshapes the market, a Casualty Actuarial Society seminar in New York has heard…
Cunningham Lindsey suffers rating drop
30 June 2014
Moody’s has downgraded its corporate family rating on global loss adjuster Cunningham Lindsey, due to lower claims volumes…
TRIA renewal progress applauded
23 June 2014
US industry bodies have welcomed the latest step towards renewal of the Terrorism Risk Insurance Act…
Moody’s downgrades reinsurers’ outlook
23 June 2014
Moody’s has changed its outlook for the global reinsurance sector to negative from stable, amid growing competition from new entrants and market overcapacity…