BIBA raises Flood Re concerns
19 August 2013
The UK Government’s proposed flood cover scheme needs more work, according to the British Insurance Brokers’ Association…
International
Zurich takes a hit over catastrophes
19 August 2013
Zurich has reported net income of $US1.85 billion ($2.01 billion) for the first half of this year, down 17% from $US2.23 billion ($2.43 billion) in the corresponding period last year…
Hogan returns to AIG as global consumer CEO
19 August 2013
AIG has rehired former executive Kevin Hogan to be CEO of its expanded Global Consumer Insurance business…
Lloyd’s celebrates 325 years
19 August 2013
Lloyd’s has put a video and a written collection of historic milestones on its website to celebrate its 325th anniversary…
Fraud on the increase, US study shows
19 August 2013
US property and casualty insurance fraud costs $US32 billion ($35 billion) a year, according to the Insurance Information Institute…
Asia-Pacific gives reinsurers room to grow: Fitch
12 August 2013
Asia holds huge potential for reinsurers thanks to its robust development of insurance and strong economic growth, according to ratings agency Fitch…
RIMS looks to dispel ‘bailout’ myth on TRIA
12 August 2013
The Risk and Insurance Management Society has renewed its call for the US Terrorism Risk Insurance Act to be renewed before it expires at the end of next year…
Second-quarter claims hit Munich Re earnings
12 August 2013
Munich Re says first-half consolidated profit fell 4.5% to €1.5 billion ($2.2 billion), including a second-quarter claims burden of €230 million ($341 million) from floods in Europe…
Swiss Re profits rebound despite floods
12 August 2013
Swiss Re has reported a “robust” profit of $US786 million ($876.2 million) for the second quarter, despite high levels of natural catastrophes…
Marsh increases net income
12 August 2013
Marsh & McLennan has reported net income of $US802 million ($884.47 million) for the first half, up from $US676 million ($745.51 million)…
Berkshire underwriting earnings rise
12 August 2013
Berkshire Hathaway says underwriting earnings more than doubled in the first half as its reinsurance and vehicle operations offset losses from second-quarter European floods…
Interest rates drive down Catlin earnings
12 August 2013
Bermuda-based insurer Catlin has posted a drop in earnings after rising interest rates cut the market value of its fixed-income portfolio…
Liberty Mutual profit rises, catastrophe losses down
12 August 2013
Liberty Mutual Holding Co says profit grew 28% to $US766 million ($853.9 million) in the first half, while catastrophe losses fell sharply…
Crawford Asia-Pacific earnings fall
12 August 2013
Earnings for loss adjuster Crawford & Co grew 62% for the half-year to June 30 following an improved performance from the US, Canada and Latin America, CEO Jeffrey Bowman says…
Month of earthquakes and floods takes toll on China
12 August 2013
China bore the brunt of last month’s natural catastrophes, according to the latest Impact Forecasting Global Catastrophe Recap…
Growth in personal and commercial rates slows
12 August 2013
Rate rises on US personal and commercial lines flattened in an uneventful market last month, insurance exchange MarketScout says…
Oklahoma tornado payouts pass $US1 billion mark
12 August 2013
Insurance payments following the tornado outbreak that swept across central Oklahoma in May have topped $US1 billion ($1.1 billion)…
Broker reports dip in global rates
05 August 2013
Global insurance rates fell in the second quarter, according to Marsh’s latest briefing…
Catastrophe bond issuance hits six-year high
05 August 2013
Insurance-linked securities issuance reached $US3.97 billion ($4.43 billion) in the first half of this year, its highest level for the period since 2007, according to an Aon Benfield report…
AIG hails strong Q2 performance
05 August 2013
AIG has reported net income of $US2.7 billion ($3.03 billion) for the second quarter, up from $US2.3 billion ($2.58 billion) in the corresponding period last year…