American reinsurer profits soar
24 March 2014
US reinsurer profits increased more than 40% last year, according to Reinsurance Association of America underwriting results…
International
Regulator urges reform of UK add-on market
17 March 2014
The UK’s Financial Conduct Authority has called for reform of the general insurance add-on market, after a review found consumers being overcharged up to £200 million…
US CFOs keen to use alternative capital
17 March 2014
Most US insurance companies’ CFOs do not use alternative forms of capital for reinsurance but are open to doing so in future, according to a survey by consultants Towers Watson…
Premium gains lift Hannover Re profit
17 March 2014
Hannover Re’s earnings grew 5.4% to €895.5 million ($1.39 billion) last year, driven by increased non-life premiums…
Zurich to cut 800 staff globally
17 March 2014
Zurich Insurance has announced a reorganisation that will cut about 800 staff from its global workforce of 55,000…
Regulatory load puts pressure on Allianz
17 March 2014
Allianz has flagged increasing supervision, legislation and solvency requirements as challenges for the year ahead…
US P&C insurers record strong growth
17 March 2014
US property and casualty insurers increased their earnings by 54% last year, according to Moody’s…
LMA claims review wins praise
17 March 2014
Members of the Lloyd’s Market Association and the London and International Insurance Brokers Association have backed a review of Lloyd’s claims management…
Acquisitions drag on JLT Group profit
10 March 2014
Costs from acquisitions and a business transformation program caused JLT Group’s profit to drop marginally to £101.96 million last year…
Berkshire insurance earnings rise
10 March 2014
Berkshire Hathaway’s insurance earnings grew 28% to $US7.8 billion last year as all divisions except General Re posted gains…
Japanese snowstorms drive February payouts
10 March 2014
Deadly snowstorms in Japan have caused insured losses of about $US585 million, according to Impact Forecasting’s Global Catastrophe Recap for last month…
Willis Re chief flags risks for smaller reinsurers
10 March 2014
Traditional reinsurers must be wary of diversifying to survive amid fierce competition, Willis Re President Paddy Jago warns…
Gallagher appoints Australian to run Asia hub
10 March 2014
Arthur J Gallagher has set up an Asian hub and moved Australian executive Dick Heath from Sydney to Singapore to run it…
PPI drives caseload record at UK FOS
10 March 2014
The number of new complaints to the UK’s Financial Ombudsman Service grew 38% to a record high of 575,836 last year…
Scor P&C records strong year
10 March 2014
Scor’s global property and casualty gross written premium grew 8.3% to €4.8 billion last year.
FM Global raises net income by 32%
10 March 2014
US-based business property insurer FM Global recorded a 32% rise in net profit to $US1.02 billion last year.
US commercial rates moderate, outlook weak
10 March 2014
US commercial line rate gains moderated to 2% last month, and the market may start to decline later this year because of capital availability, according to analyst MarketScout…
LMA aids drones study
10 March 2014
The Lloyd’s Market Association is contributing to a European Commission study on third-party liability and insurance relating to the use of drones…
Brit Group plans London listing
10 March 2014
Specialty insurer Brit Group plans to list on the London Stock Exchange with an initial public offering next month…
Allianz global profit up but challenging year ahead
03 March 2014
German global insurer increased profit by 15% to €6 billion ($9.17 billion) in 2013, but CEO Michael Diekmann has flagged a challenging industry environment this year…