Climate change now part of cat models: Lloyd’s
12 May 2014
Severe storms in Europe could quadruple in number and flood risks may triple by 2080, according to new climate change scenarios outlined in a Lloyd’s report…
International
Marsh reports drop in global property rates
12 May 2014
Strong competition, excess capacity and a lack of major events led to a first-quarter drop in property insurance rates worldwide, according to Marsh…
Insurers more prepared to take on new risks: survey
12 May 2014
The world’s leading insurance companies are prepared to increase their risk to combat low yields…
US tornadoes caused massive damage, while Ita didn’t
12 May 2014
Sixty-nine tornadoes and flash floods which killed 39 people and injured 250 across 20 states in the US in April are likely to lead to hundreds of millions of dollars in insured losses…
AIG profit drops as catastrophes rise
12 May 2014
Giant US-based global insurer AIG’s profit fell 27% to $US1.61 billion ($1.72 billion) in the first quarter on increased catastrophe losses and lower insurance investment income…
Competition dents Munich Re profit
12 May 2014
Munich Re’s first-quarter profit fell 4.7% to €924 million ($1.36 billion) amid lower premium income, strong reinsurance competition and higher catastrophe losses…
Swiss Re ‘on track’ despite earnings slide
12 May 2014
Swiss Re’s first-quarter earnings slipped 11% as property and casualty income offset a fall in profit from the life and health division…
Malaysian airliner is only major loss, Hannover Re says
12 May 2014
German reinsurer Hannover Re has recorded first-quarter net income of €233 million ($347 million), up 0.7% on the corresponding period last year…
Allianz posts Q1 revenue record
12 May 2014
Allianz says net profit fell 4% to €1.64 billion ($2.43 billion) in the first quarter, but revenue set a quarterly record for the company…
Healthy renewals lift Scor Re
12 May 2014
Strong January and April renewals helped Scor Re increase profit by 22% to €135 million ($200.31 million) in the three months to March 31…
Pressure grows on US commercial insurance rates
12 May 2014
US commercial insurance rates grew 2% last month, slowing from a 3% increase in March due to stiff competition, according to analyst MarketScout…
Aon report reveals under-rated risks
05 May 2014
Aon has launched a sequel to last year’s Global Risk Management Survey, to establish which threats are under-rated…
Central US states count cost of tornadoes
05 May 2014
The full impact of deadly tornadoes that hit the south-central US late last month will not be known until damage surveys are completed, according to catastrophe modeller AIR Worldwide…
Marsh makes strong start
05 May 2014
Marsh’s Asia-Pacific operations increased revenue by 3% to $US151 million ($162.74 million) in the first quarter, as parent Marsh & McLennan reported a strong start to the year…
North America, emerging markets lift Willis
05 May 2014
Willis grew profit by 12% to $US246 million ($264.98 million) in the quarter to March 31 on a stronger performance in North America and emerging markets…
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…
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…