UK flood subsidy pool faces delay
03 February 2014
Britain’s flood pool may not be ready to begin operations at its proposed start date of June next year, according to UK media reports…
International
QBE to send UK jobs overseas
03 February 2014
QBE is to reduce its UK workforce by offering redundancies and sending some jobs to the Philippines…
UK car insurance premiums drop 12.5%
03 February 2014
UK comprehensive car insurance policy prices fell 12.5% to average £644 ($1216) last year, but the pace of decline slowed in the fourth quarter, according to a pricing index…
Aon full-year profits rise
03 February 2014
Aon has reported a 12% rise in net income, earning $US1.1 billion ($1.26 billion) last year compared with $US993 million ($1.13 billion) in 2012…
US, UK recovery drives Arthur J Gallagher profit
03 February 2014
Arthur J Gallagher’s brokerage arm increased revenue by 22% in the fourth quarter, with Chairman and CEO J Patrick Gallagher citing growing optimism about economic recovery in the US and UK…
Ace reports record full-year profit
03 February 2014
Premium growth and fewer catastrophe losses helped global insurer Ace to a record profit of $US3.76 billion ($4.29 billion) last year, up 39%…
US growth lifts Chubb profit
03 February 2014
Chubb’s net profit grew 73% to a record $US2.3 billion ($2.63 billion) last calendar year thanks to higher premium growth in the US and lower claims…
US Treasury backs federal regulation
16 December 2013
Federal involvement in US insurance regulation is necessary in some areas, according to a Treasury report…
Lloyd’s chief Ward to join Brit Insurance
16 December 2013
Brit Insurance Holdings has appointed outgoing Lloyd’s CEO Richard Ward as Chairman, effective from February 1…
Swiss Re earns Moody’s upgrade
16 December 2013
Moody’s has upgraded Swiss Re’s insurance financial strength rating and senior debt rating…
Britain gets tough on whiplash rorts
16 December 2013
UK Chancellor George Osborne has announced a crackdown on whiplash insurance fraud…
Axis paves way for $800 million buyback
16 December 2013
Axis Capital has approved a $US750 million ($823 million) share buyback, as it extends a repurchasing program and returns funds to investors…
Dutch insurer Achmea cuts 4000 jobs
16 December 2013
The Netherlands’ largest general and health insurer has announced 4000 job cuts in a bid to adapt to customers’ online demands and maintain its “long-term financial health”…
Atlantic enjoys quiet hurricane season
16 December 2013
This year’s Atlantic hurricane season was “unusually quiet”, with the fewest recorded events since 1982, according to Willis Re…
European cyclone losses may pass $2 billion
16 December 2013
Insured losses from Cyclone Xaver in Europe will range from €700 million to €1.4 billion ($1.07 billion to $2.15 billion), according to catastrophe modeller AIR Worldwide…
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%…
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…