Management ‘tone’ holds key to risk culture
25 November 2013
The “tone from the top” is crucial to a sound risk culture, according to a new guideline from the Financial Stability Board…
International
US P&C sector delivers strong Q3 growth
25 November 2013
Moody’s-rated US property and casualty insurers increased third-quarter net income by 11% over the corresponding period last year…
Ace to buy back shares
25 November 2013
Ace is to buy back up to $US1.5 billion ($1.6 billion) of its shares by the end of next year, as it returns capital to shareholders…
Zurich profits grow in Q3
18 November 2013
Swiss insurer Zurich Insurance Group has reported a 64% rise in third-quarter profits…
Catlin GWP rises 8%
18 November 2013
Catlin’s gross written premium increased 8% to $US4.41 billion ($4.73 billion) in the nine months to September 30, driven by its property and casualty business…
Haiyan insured losses may reach $US700 million
18 November 2013
Super Typhoon Haiyan caused up to $US14.5 billion ($15.47 billion) total economic damage, of which up to $US700 million ($746.86 million) was insured, according to catastrophe modeller AIR Worldwide…
Trust in TRIA, Hartwig tells US Government
18 November 2013
Insurance Information Institute President Robert Hartwig has outlined the importance of the Terrorism Risk Insurance Act to the US House of Representatives…
Weather takes growing toll on east Asia
18 November 2013
The number of weather-related catastrophes in east Asia has more than quadrupled since 1980, with floods and typhoons posing the greatest threats, according to Munich Re…
EU agrees on Solvency II
18 November 2013
The European Union has reached agreement on new capital rules for insurers under Solvency II, making the proposed January 2016 start date viable…
10,000 feared dead in giant typhoon
11 November 2013
Super Typhoon Haiyan has caused significant damage in the Philippines, killing an estimated 10,000 people…
Overseas revenues lift Marsh performance
11 November 2013
Marsh & McLennan says nine-month profit gained 15% to $US1.05 billion ($1.2 billion) after offshore insurance revenues grew in the third quarter…
JLT reports rate rises in US classes
11 November 2013
The insurance pricing environment is mixed, with continued softening in most international classes but increases in some US lines, JLT Group has told investors…
Allianz hails strong third quarter
11 November 2013
Allianz Group increased profit by 6.3% in the third quarter, raising the company’s expectations for the full year…
‘Difficult’ trading drives down Munich Re profit
11 November 2013
Munich Re’s consolidated profit fell to €2.2 billion ($3.11 billion) in the first nine months of this year, down from €2.7 billion ($3.82 billion) on lower premium and reinsurance income…
Swiss Re earnings drop as catastrophes losses rise
11 November 2013
Swiss Re says third-quarter earnings fell 51% to $US1.07 billion ($1.13 billion) on catastrophe losses and pressures in the Australian life division…
Hannover Re posts Q3 profit dip
11 November 2013
German reinsurer Hannover Re has posted a fall in third-quarter profits, but remains “on track” to hit its full-year target…
Ebix profits fall
11 November 2013
US software provider Ebix has reported a 15% drop in earnings for the nine months to September 30 after making provisions for the settlement of a class action and a possible tax bill…
Crawford & Co’s Asia-Pacific earnings down
11 November 2013
Loss adjuster Crawford & Co has reported a 16% increase in profit to $US40.15 million ($42.19 million) for the nine months to September 30…
European storms may cost billions
11 November 2013
Insured losses from Windstorm Christian in Europe will be between €1.5 billion and €2.3 billion ($2.12 billion-$3.26 billion), according to catastrophe modeller AIR Worldwide…
Commercial rates ‘lose steam’ in US
11 November 2013
US commercial property and casualty premium rates grew more slowly last month, gaining 4%, down from 5% in September…