JLT ‘on track’ despite price drops
05 May 2014
JLT’s performance this year has met expectations despite declining insurance and reinsurance pricing and the rising value of the UK currency, according to a trading update…
International
Competition drags on Munich Re profit
05 May 2014
Munich Re has warned of an 8% drop in first-quarter profit due to strong competition in the reinsurance market…
Reinsurance dip cuts Berkshire Q1 profit
05 May 2014
Berkshire Hathaway’s first-quarter profit fell 3.8% to $US4.71 billion ($5.08 billion) as the insurance underwriting result declined…
Ace profit suffers as catastrophe losses rise
05 May 2014
Global insurer Ace has reported a mixed first quarter, with profit down 29.8% to $US734 million ($791.7 million) amid higher catastrophe losses and a capital loss…
Axis first-quarter profits tumble
05 May 2014
Bermuda-based insurer and reinsurer Axis Capital has reported first-quarter net income available to common shareholders of $US137 million ($147.65 million), down 54.79% from…
Liberty profits fall as catastrophe losses soar
05 May 2014
Global insurer Liberty Mutual has recorded net income of $US272 million ($293 million) for the first quarter, down 14.5% on the corresponding period last year…
XL Group ‘well set’ despite profit drop
05 May 2014
Dublin-based XL Group says profit fell 27% to $US255.71 million ($276.05 million) in the quarter to March 31, mainly driven by lower underwriting profit and “a difficult operating environment”…
US commercial rates slow
05 May 2014
Growth in US premiums continued to ease in the first quarter, amid lower catastrophe losses, higher capacity and more competition in the reinsurance market…
Lloyd’s steps up international focus
28 April 2014
Lloyd’s will build a stronger international presence and strengthen its non-reinsurance focus under a three-year plan that updates its Vision 2025 strategy…
Aon says sidecar has aided Lloyd’s
28 April 2014
Aon’s sidecar with Berkshire Hathaway has helped clients and the Lloyd’s market, Aon CEO Greg Case says…
US senators take ‘first step’ towards TRIA renewal
28 April 2014
The Risk and Insurance Management Society has praised a bipartisan group of US senators for introducing a bill to extend the Terrorism Risk Insurance Act…
Aon profit jumps in first quarter
28 April 2014
Global broker Aon’s first-quarter net profit grew 25% to $US325 million (350 million) on a strong performance from its insurance and reinsurance broking operations…
Harsh winter chills Chubb
28 April 2014
Severe winter weather in the US has cut Chubb’s first-quarter earnings by 32% to $US449 million ($484 million)…
Underwriting result lifts WR Berkley profit
28 April 2014
WR Berkley has reported an “excellent” first quarter, with profit up 45% to $US169.67 million ($182.50 million) on improved underwriting results and investment income…
Multinational insurers pass interest rate stress test
28 April 2014
Global multiline insurers are well placed to withstand sharp swings in interest rates, according to a Standard & Poor’s analysis of 15 companies…
Global reinsurance outlook remains negative: Fitch
28 April 2014
Fitch has reiterated its negative outlook for the global reinsurance sector, as declining premiums and weaker conditions across a range of lines offset lower catastrophe losses last year…
UK brokers applaud levy cut
28 April 2014
The British Insurance Brokers’ Association has welcomed a reduction in the controversial Financial Services Compensation Scheme levy on general insurance intermediaries…
American P&C profits grow 81%
28 April 2014
US property and casualty insurers’ profits soared last year to their highest level since the global financial crisis, driven by lower catastrophe losses and premium growth…
Cool heads needed as reinsurers face pressure
14 April 2014
Ratings agency AM Best expects to re-evaluate its stable outlook for global reinsurers after the mid-year renewal season, as competition increases…
Gallagher earnings rise amid acquisitions
14 April 2014
Arthur J Gallagher says first-quarter profit grew 21.7% to $US49.3 million as the broking division powered an “excellent start” to the year…