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…
International
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…
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…
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…