Napa Valley counts cost of quake
01 September 2014
A magnitude-6.0 earthquake in California’s Napa Valley last month caused extensive damage, with estimates ranging from “at least $US100 million ($106.91 million)” to…
International
Data gets bigger and better: McKinsey & Co
01 September 2014
The release of third-party public sector data from governments around the world will make Big Data an even greater source of competitive advantage for insurers, a report…
S&P urges public-private unity on disaster resilience
01 September 2014
Ratings agency Standard & Poor’s has called for greater collaboration between reinsurers and governments on disaster resilience…
First-half catastrophe losses drop
01 September 2014
Global natural and man-made catastrophe insurance losses totalled $US21 billion ($22.5 billion) in the first half, down from $US25 billion ($26.8 billion) in the corresponding period last year…
S&P give thumbs up to Asia-Pacific reinsurers
01 September 2014
Standard & Poor’s says reinsurers in the Asia-Pacific region are well placed to develop their market positions, with most groups rated in the “A” bracket…
Fitch remains gloomy on reinsurance outlook
01 September 2014
Fitch has reiterated its negative outlook for the global reinsurance sector amid falling premium prices, increased non-catastrophe property losses and a higher underlying run-rate loss ratio…
Singapore hub expansion ‘increases exposure’
25 August 2014
Offshore gross insurance premiums in Singapore have quadrupled in the past 13 years, according to Standard & Poor’s…
Allied World picks up RSA businesses in Asia
25 August 2014
Swiss-based insurer Allied World says it will gain meaningful scale in Asia with the acquisition of Royal & Sun Alliance’s Hong Kong and Singapore operations…
China to set up catastrophe pool
25 August 2014
The Chinese Government is to establish a catastrophe fund and reinsurance pool with a role for private insurers…
AM Best downgrades reinsurance outlook
25 August 2014
AM Best has cut its outlook for the global reinsurance sector to negative, with market headwinds presenting “significant” long-term challenges for the industry…
Ironshore sell major stake to Chinese investor
25 August 2014
Chinese investment group Fosun has bought a 20% stake in Bermuda-based insurer Ironshore for $US463.83 million ($498.84 million)…
S&P calls for feedback on ratings
25 August 2014
Standard & Poor’s wants comments on its proposed revised methodology for assessing lenders’ mortgage insurance as a form of credit enhancement in global residential…
Cat losses dent Amlin earnings
25 August 2014
Lloyd’s insurer and reinsurer Amlin says net profit fell 2.9% to £136 million ($243.39 million) in the first half, as large catastrophe losses grew 52% to £48.9 million ($87.51 million)…
SMEs drawn to cyber-cover
18 August 2014
Cyber insurance is generally considered a “top end of town” purchase but it is now attracting small and medium-sized enterprises in the US, according to Swiss Re Chief Economist Kurt Karl…
Bermuda the ‘Silicon Valley of risk’
18 August 2014
The Bermuda Monetary Authority registered 36 new insurance companies in the first half, two more than in the corresponding period last year…
Pressure grows on reinsurers: S&P
18 August 2014
Increasing competition, declining premiums and an influx of third-party capital is turning up the heat on global reinsurers, according to a report from Standard & Poor’s…
Lloyd’s enjoys strong year: Aon
18 August 2014
Lloyd’s is showing momentum after starting the year with record underwriting capacity and 93 active syndicates, according to Aon Benfield…
Ex-Zurich chief Jim Schiro dies
18 August 2014
Former Zurich Insurance CEO Jim Schiro has died aged 68…
Fall in catastrophes, rise in start-ups flatten reinsurance premiums
18 August 2014
Natural catastrophes continue to drive the growth of Asian reinsurance markets, according to a report on the sector by Fitch Ratings in Hong Kong…
Brit GWP rises, profit dips
18 August 2014
Global specialty insurer and reinsurer Brit says first-half net profit fell 18% to £56.6 million ($101.5 million) as foreign exchange movements and initial public offering costs hit earnings…