Commercial rates post steady gains
14 April 2014
US commercial insurance rates increased 3% last month, compared with a 2% gain in February, extending a pattern of slow but steady increases, according to analyst MarketScout…
International
April 1 renewal rates soften further
07 April 2014
Prices continued to fall at the April 1 reinsurance renewals, driven by continued demand for catastrophe bonds and new capital providers’ entry to the US market, according to Willis Re…
World ‘not prepared’ for climate change
07 April 2014
The latest Intergovernmental Panel on Climate Change report says the effects of global warming can already be seen, and the world is “ill-prepared”…
European floods show value of mitigation: Munich Re
07 April 2014
Last year’s devastating floods in Western Europe have shown how mitigation can reduce losses, according to Munich Re…
Most Californians uninsured against quake
07 April 2014
Nearly 90% of Californian homeowners were without earthquake insurance when a 5.1-magnitude tremor struck on March 28, according to state authorities…
Ironshore ‘lines up IPO’
07 April 2014
Ironshore is preparing to list its shares on the US stock market, according to UK media reports…
Former broker chief consults to united BIBA
07 April 2014
Former UK Institute of Insurance Brokers CEO Barbara Bradshaw has taken a consultancy role at the British Insurance Brokers’ Association…
MH370 losses may reach $450 million
07 April 2014
Insurance losses from the disappearance of Malaysia Airlines flight MH370 range from $US250 million to $US450 million ($271 million to $487.81 million), depending…
Lloyd’s profit rises 16%
31 March 2014
Lloyd’s profit before tax grew 16% to £3.21 billion ($5.77 billion) last year as a benign period for natural catastrophes and reserve releases offset low interest rates and price…
London’s status slipping, LMG warns
31 March 2014
London’s position in the global market is under threat, according to new London Market Group Chairman Steve Hearn…
US ‘vulnerable to terrorism’ without TRIA
31 March 2014
The Insurance Information Institute has warned of dire consequences for the US economy if the Terrorism Risk Insurance Act is allowed to expire at the end of this year…
Insurers continue to embrace predictive modelling
31 March 2014
North American insurers are increasingly using predictive modelling in almost all business lines, new research shows…
Disaster losses fall, but deaths rise
31 March 2014
Global insured losses from natural and man-made disasters totalled $US45 billion ($48.89 billion) last year, down 44% on 2012…
US curbs flood premium increases
24 March 2014
Moves to match US flood cover pricing to risk have hit a setback, with the Senate passing legislation to curb premium rises under the National Flood Insurance Program…
Insurers await answers on flight MH370
24 March 2014
As more nations join the search for the missing Malaysia Airlines flight MH370, the number of insurers involved is also growing…
E&Y predicts more southeast Asia opportunities
24 March 2014
Trade liberalisation is creating new opportunities in southeast Asia, but insurers should beware regulatory differences, according to an Ernst & Young global outlook report…
Reinsurers rise to capital challenge: Guy Carpenter
24 March 2014
Reinsurers’ traditional business model is under pressure from the growing influence of alternative market capacity, according to reinsurance broker Guy Carpenter…
Munich Re forecasts profits dip
24 March 2014
Munich Re is aiming for a profit of €3 billion ($4.58 billion) this year, down 9% on last year due to low interest rates and expectations of a higher tax bill…
Aviva publishes customer reviews
24 March 2014
Aviva has become the first UK insurer to publish customer claims reviews on its website…
Japan quake premiums increase
24 March 2014
Japanese earthquake insurance premiums will rise an average of 15.5% in July, according to AM Best…