Zurich to sell businesses after cutting ROE forecast
09 December 2013
Zurich says it will exit some businesses and invest in those where it has a strong position, after last week cutting its return-on-equity target to 12-14% from 16%…
International
UK unveils plan to help industry grow
09 December 2013
The UK Government has developed an insurance growth action plan to help companies increase business and to shore up Britain’s role in the sector amid competition from rivals…
Moody’s predicts stable outlook for industry
09 December 2013
Gradually rising interest rates and a relatively steady global economy indicate a stable year ahead for the global insurance industry, according to Moody’s Investor Services…
Insurance apprenticeships on rise in UK
09 December 2013
A growing number of UK insurance companies are willing to offer apprenticeships in the industry, according to a survey…
RIMS opposes move to close US tax loophole
09 December 2013
The Risk and Insurance Management Society has opposed moves to remove a tax deduction for US reinsurers that cede premiums to their foreign affiliates…
Haiyan losses forecast at $6.4 billion
09 December 2013
Economic losses from Super Typhoon Haiyan in the Philippines last month are estimated at $US5.8 billion ($6.41 billion), with insured losses running to hundreds of millions of dollars, Aon Benfield says…
Philippines to overhaul catastrophe insurance mechanism
09 December 2013
The Philippines Government is in talks with the World Bank to develop an insurance plan that will respond better in the aftermath of catastrophes…
Foreign growth ‘adds to Tokio Marine risk’
09 December 2013
Moody’s Japan has questioned Tokio Marine’s overseas expansion, warning the company’s credit standing is exposed to increased risk…
US commercial rates steady, personal lines to fall
09 December 2013
US commercial rates are trending upwards but the rate of increase is slowing, according to MarketScout…
Global growth aids insurance outlook: Swiss Re
02 December 2013
Strengthening global economic activity will support growth in non-life insurance premium rates next year, Swiss Re says…
UK regulator investigates comparison sites
02 December 2013
Britain’s Financial Conduct Authority has begun a review of insurance price comparison websites…
Bermuda leads the world in ILS
02 December 2013
Bermuda accounted for more than 62% of global issuance of insurance-linked securities in the third quarter, according to its financial services regulator…
UK confirms Flood Re’s exclusion of small businesses
02 December 2013
The UK’s proposed flood insurance scheme will exclude SMEs, despite protests from the British Insurance Brokers’ Association…
Macquarie takes Equity Red Star stake
02 December 2013
Macquarie Capital has bought a stake in UK motor insurer Equity Red Star from private equity group Aquiline Capital Partners…
US reinsurers report profit growth
02 December 2013
The Reinsurance Association of America says members recorded a net profit of $US7.5 billion ($8.26 billion) in the first nine months of the year, up from $US5.88 billion…
Bank warns Pacific islands of climate change threat
02 December 2013
Economic losses from climate change could cost developing Pacific nations 2.9-12.7% of gross domestic product by 2100, according to a study by the Asian Development Bank…
Worldwide rates dip, Marsh says
25 November 2013
Global insurance rates fell slightly in the third quarter, led by declines in the Asia-Pacific region, according to Marsh…
Arthur J Gallagher builds acquisition fund
25 November 2013
Arthur J Gallagher is raising $US200 million ($212.85 million), with the funds earmarked for further acquisitions and general costs…
US windstorm damage could top $1 billion
25 November 2013
Storms and tornadoes that killed eight people in the US midwest on November 17 could generate insured losses of more than $US1 billion ($1.08 billion), risk modeller RMS says…
World Bank calls for mitigation to keep insurers in markets
25 November 2013
The World Bank says insurance costs are likely to rise as weather-related claims increase, and mitigation is needed to stop insurers abandoning markets as risk grows too difficult to price…