Reinsurer capital tops $US500 billion
15 April 2013
Global reinsurer capital grew 11% last year to about $US505 billion ($483.07 billion) at December 31, according to a report by Aon Benfield…
International
Property rates stable, but insurers change terms after Sandy
15 April 2013
The US property reinsurance market is flat following the January and April renewals, according to global broker Willis…
Above-average US hurricane season awaits
15 April 2013
This year’s Atlantic hurricane season will be more active than usual, with above-average probability of major systems making landfall on the US coast and in the Caribbean, according to Colorado State University’s…
We’re prepared for challenges, says Swiss Re
15 April 2013
Swiss Re is ready for the challenges of weak growth in Western countries, expansion into emerging markets and tougher regulation, executives told last week’s annual general meeting…
Ebix buys London and Middle Eastern trading exchange
15 April 2013
Insurance software provider Ebix has bought the Qatarlyst insurance and reinsurance electronic trading exchange from the Qatar Financial Centre Authority, giving it greater access to London…
Chinese insurer buys Lloyd’s building
15 April 2013
The freehold on the famous Lloyd’s of London building has been sold to Chinese insurer Ping An…
Bank sells Macau business to QBE
15 April 2013
HSBC will sell its general insurance business in Macau to QBE, with the deal expected to be finalised in the first half of this year…
US commercial rates rise 5%, personal lines up 4% in March
15 April 2013
US commercial and personal lines rates are hardening, with commercial rates up 5% last month, according to information exchange MarketScout…
Last year was third-worst for losses: Swiss Re
08 April 2013
Natural catastrophes and man-made disasters caused economic losses of $US186 billion ($177.91 billion) last year, according to Swiss Re’s latest Sigma study…
Lloyd’s bounces back from 2011 profit plunge
08 April 2013
Lloyd’s has shaken off its 2011 performance to bounce back strongly with a pre-tax profit of £2.77 billion ($4.04 billion) for the year to December 31, 2012…
Sandy no-blow for reinsurers as prices fall
08 April 2013
The reinsurance industry has shrugged off its losses from Superstorm Sandy, with pricing at the Japanese April 1 renewals flat or down across all business lines, Willis Re says…
FSA fines Prudential for hiding AIG deal
08 April 2013
Prudential has been fined £30 million ($43.8 million) and for failing to tell the UK Financial Services Authority of its bid to buy AIG’s Asian life insurance business…
Late European winter causes $1.7 billion of damage
08 April 2013
March was an expensive month for Europe as wintry weather contributed to economic losses of €1.4 billion ($1.7 billion), a report by Aon Benfield’s Impact Forecasting shows…
GA share acquisition values Hyperion at $361 million
08 April 2013
International insurance intermediary Hyperion has a new shareholder, with US private equity group General Atlantic acquiring more than 30%…
Swiss Re and Berkshire Hathaway settle dispute
08 April 2013
The dispute over a life reinsurance contract between Swiss Re and Berkshire Hathaway has been settled…
UK motor rates turn again
08 April 2013
The challenging UK motor market almost broke even last year, figures from Ernst & Young show – but a softening in rates means the improvement will not last…
EIOPA opens consultation on Solvency II guidelines
08 April 2013
The European Insurance and Occupational Pensions Authority is seeking comments on its draft Solvency II implementation guidelines…
Japanese insurers seek earthquake premium rise
08 April 2013
Japanese property and casualty insurers have requested permission to raise earthquake insurance premiums by an average of 15.5%…
Asia-Pacific to dominate world growth: Munich Re
25 March 2013
Premium income from the Asia-Pacific region will double by 2020, contributing an extra €1 trillion ($1.24 trillion), according to a new report by Munich Re…
FM Global hails income turnaround
25 March 2013
FM Global recorded net income of $US774 million ($746 million) last year, compared with a net loss of $US41.5 million ($40 million) in 2011…