RSA tipped to sell Asian business
23 June 2014
Britain’s largest non-life insurer, RSA Insurance Group, could sell its Asian operations for up to $US500 million ($531 million), according to reports…
International
BIBA study confirms Flood Re fears
23 June 2014
A British Insurance Brokers’ Association survey reveals concerns for properties excluded from the UK’s planned flood pool – particularly small businesses…
Zurich calls for global focus on flood mitigation
23 June 2014
A “radical rethink” on flood mitigation is needed to counter a growing global threat, according to Zurich…
Ironshore lodges IPO documents
23 June 2014
US-based insurer Ironshore has filed plans for an initial public offering of its shares, enabling the founders to sell down their holdings…
Twin tornado rare, but not unique
23 June 2014
A double tornado that devastated the town of Pilger in Nebraska was unusual but not unprecedented, experts say…
‘Incomparable’ Benmosche to leave AIG
16 June 2014
Robert Benmosche will step down as CEO of AIG on September 1, to be replaced by current AIG Property Casualty CEO Peter Hancock…
TRIA extension may come at a price: Moody’s
16 June 2014
Moody’s expects the US Terrorism Risk Insurance Act to be extended, but with greater financial responsibility passed on to insurers…
Cyber insurance high on the agenda
16 June 2014
Data theft is the biggest threat to business reputations and 77% of mid to large companies intend to have some level of cyber insurance in place by next year, according to a US survey…
Japanese insurers forecast slower growth
16 June 2014
Japan’s five major insurers have reported a total combined operating ratio of less than 100 for the first time in six years, but they expect slower growth in net written premium for…
Underinsurance puts pressure on Asian governments
16 June 2014
Asia-Pacific has been more vulnerable to natural catastrophes than any other region in the past 20 years, and underinsurance means governments may no longer be able to act as insurer…
US commercial premium growth pace ‘slowing’
16 June 2014
US commercial premiums grew 4% in the first quarter, as gains slowed to their lowest level since 2011, according to Towers Watson…
Lloyd’s tips Germans for World Cup domination
16 June 2014
Germany is a shoo-in for the current soccer World Cup – according to a Lloyd’s assessment of teams’ insurable values…
No let-up on reinsurance price cuts: Guy Carpenter
10 June 2014
Competition from alternative markets is putting further downward pressure on reinsurance pricing, according to Marsh subsidiary Guy Carpenter…
TRIA extension moves step closer
10 June 2014
The US Senate Banking Committee has approved a seven-year extension to the Terrorism Risk Insurance Act, which was due to expire at the end of this year…
Forecasters raise Atlantic hurricane prediction
10 June 2014
Experts at Colorado State University have adjusted this year’s Atlantic hurricane forecast, increasing the number of storms expected…
Rise in capacity drives down US D&O rates
10 June 2014
US directors’ and officers’ insurance rates fell by an average of 4.8% in the first quarter, according to Aon…
Monthly US storm losses top $1 billion
10 June 2014
Storms in the US led to insured losses of more than $US1 billion ($1.07 billion) last month, according to Aon Benfield subsidiary Impact Forecasting…
Global ILS market off to strong start
10 June 2014
Activity in the global insurance-linked securities market surged to a first-quarter record this year, according to the Bermuda Insurance-Linked Securities update…
Farmers drops Chicago flood lawsuit
10 June 2014
Zurich-owned Farmers Insurance has dropped its legal action against councils in the Chicago area, ending one of the first lawsuits related to climate change…
Indonesia and Myanmar tipped as markets to watch
10 June 2014
Indonesia is beginning to attract more interest from global insurers, while Myanmar should also be high on the list of potential markets, according to law firm Clyde & Co…