British insurers pay $317 million each day
23 September 2013
The UK insurance industry paid £187 million ($317 million) a day to customers last year, according to the Association of British Insurers…
International
BIBA reaffirms code commitment
23 September 2013
The British Insurance Brokers’ Association says it will give further consideration to developing a code of conduct…
Costa Concordia pulled upright
23 September 2013
The wreckage of the Costa Concordia has been hauled upright, completing a delicate stage in the biggest-ever marine salvage operation…
Capital influx to ‘profoundly change’ reinsurance market
16 September 2013
Increasing third-party capital in the reinsurance market will have “profound” consequences, Willis Re says…
Chen to chair Zurich’s Chinese business
16 September 2013
Zurich has appointed Johnny Chen as its Life and General Insurance Chairman in China, as it seeks further expansion in the fast-growing market…
Outer space and cyberspace pose growing threat
16 September 2013
Space collisions, climate change and cyber security are key emerging risks for the insurance industry, according to a report by Guy Carpenter…
UK publishes Flood Re draft legislation
16 September 2013
The UK Government has published draft clauses relating to its proposed Flood Re insurance scheme…
Power producers vulnerable to weather: Marsh
16 September 2013
Weather-related losses in the power generation industry are rare but expensive, according to a global study by Marsh…
Investment returns drive US reinsurer earnings
16 September 2013
US reinsurer earnings grew in the first half of this year thanks to fewer natural catastrophes and an improved investment environment, industry figures show…
ERM acceptance reaches ‘critical mass’
16 September 2013
The benefits of enterprise risk management programs are gaining greater traction with companies, as more organisations implement programs to deal with risk…
Commercial insurance prices rise to cover losses
16 September 2013
US commercial insurance premiums grew 6% in the second quarter, according to a Towers Watson survey…
Munich Re expects renewals to hold steady
09 September 2013
Munich Re has predicted largely stable renewals for its portfolio despite the overall economic situation remaining “clouded by uncertainty”…
Reinsurer capital and profits rise
09 September 2013
Global reinsurer capital topped $US510 billion ($558.67 billion) at June 30, up 1% on the previous year, while profits grew following fewer catastrophes…
AM Best warns of quota-share danger
09 September 2013
Insurers that automatically take a share of risk through quota-share arrangements could suffer weaker risk management, according to AM Best…
Tougher times await Asia-Pacific insurers: S&P
09 September 2013
Economic headwinds will make it harder for Asia-Pacific insurers to prosper, according to a report by Standard & Poor’s…
Rising sea ‘presents biggest threat’ from climate change
09 September 2013
A rise in sea levels is the single-greatest threat posed by global warming, according to a Guy Carpenter report on the evolving risk landscape…
US insurers defend state-based regulation
09 September 2013
The Property Casualty Insurance Association of America has defended the system of state-based regulators and rejected a Financial Stability Board review that calls for a streamlined, federal structure…
European GWP hits €1.1 trillion
09 September 2013
The European insurance industry recorded gross written premium of more than €1.1 trillion ($1.58 trillion) last year, according to Insurance Europe…
Beware the watchdog, D&O insurers warned
09 September 2013
Regulators are the biggest source of liability claims on directors’ and officers’ insurance in the Asia-Pacific region, the Australian Professional Indemnity Group conference has heard…
Asian floods cause $10 billion damage
09 September 2013
Floods in China, Russia, the Philippines and Pakistan caused $US10 billion ($10.87 billion) of economic losses last month, according to Aon Benfield’s latest catastrophe report…