ILS issue hits record sum
02 February 2015
A record $US8.03 billion ($10.12 billion) in insurance-linked securities was raised last year, and the trend is set to continue…
International
Industry welcomes US terror backstop renewal
02 February 2015
US insurance industry leaders have praised Congress for its “swift action” to extend the Terrorism Risk Insurance Act…
Axis Capital/Partner Re deal creates fifth-largest reinsurer
02 February 2015
Axis Capital and Partner Re are merging to create a reinsurance giant that can compete against the ongoing influx of alternative reinsurance capital…
Natural catastrophe losses hit five-year low
02 February 2015
Insured losses from natural catastrophes fell to $US39 billion ($47.71 billion) last year, a five-year low and 38% below the 10-year average, according to Aon Benfield subsidiary Impact Forecasting…
Merged XL Catlin ‘bigger and better’
02 February 2015
The combined XL Group and Catlin will gain advantages of scale in a consolidating reinsurance market, XL CEO Mike McGavick has told investors…
Ace notches up operating profit record
02 February 2015
Ace Insurance has reported a record operating profit of $US3.32 billion ($4.24 billion) for last year, up 4.7% on the previous year…
Fewer catastrophes aid Chubb profit
02 February 2015
US-based insurer Chubb has reported a 10% drop in profit to $US2.1 billion ($2.63 billion) for last year – still one of the highest results in its history…
Hyperion reports revenue rise
02 February 2015
UK-based Hyperion Insurance Group has posted a 19% rise in revenue to £199 million ($386 million) for the year to September 30…
Lloyd’s chairman predicts decade of growth
15 December 2014
Lloyd’s Chairman John Nelson has delivered an upbeat forecast for the international insurance and reinsurance market…
Industry faces ‘daunting’ year amid low interest rates
15 December 2014
Next year is expected to be “daunting” for insurers, with low interest rates set to remain at least until 2016, Standard & Poor’s says…
Moody’s retains negative reinsurance outlook
15 December 2014
Moody’s has maintained its negative outlook for the global reinsurance sector next year, as profitability buckles under the weight of intense competition…
House of Representatives approves TRIA extension
15 December 2014
The US House of Representatives has passed legislation to extend the federal terrorism insurance backstop for six years…
Britain publishes flood data
15 December 2014
The UK Government is to release information on flood risks that was previously available to insurers only…
Munich Re among ‘select group of reinsurers’
15 December 2014
Only a “select group” of reinsurers have the scale, diversity and financial strength to attract the highest-quality business, according to a Fitch report on Munich Re…
Indian ownership bill to clear way for IAG deal
15 December 2014
Foreign insurers will be allowed to buy up to 49% of Indian insurance companies if the Government passes the Insurance Bill this week, as widely expected…
Large clients voice frustration with US workers’ comp
15 December 2014
Workers’ compensation ranks lowest for claims, billing and payment satisfaction among large US commercial insurance clients, according to a new survey…
Solvency regime to lift Chinese insurer credit profiles
15 December 2014
China’s new solvency framework should improve insurers’ credit profiles, particularly among larger companies, Standard & Poor’s says…
Losses low as tropical cyclone season passes quietly
08 December 2014
This year’s tropical cyclone season was mostly benign, with 40 events worldwide causing preliminary insured losses of $US2.7 billion and killing 544 people, according to Munich Re…
Insurers ‘show way on climate threats’
08 December 2014
The UK-based scientific group the Royal Society says principles used in insurance should be adopted more broadly in the financial sector, to ensure weather risks are made clear as climate changes…
ACORD chief to step down
08 December 2014
ACORD President and CEO Gregory Maciag has announced he will retire in January 2016…