HSBC wants out of Ping An
26 November 2012
HSBC is in negotiations to sell its 15.6% stake in China’s second-largest insurer Ping An for about $US9.6 billion ($9.23 billion) – with Thai group Charoen Pokphand reportedly interested in buying…
International
India aims to raise foreign investment cap
26 November 2012
The Indian Government hopes to pass a bill further opening its insurance sector to foreign investors within the next month, according to Indian media reports…
Challenges ahead, marine underwriters warn
26 November 2012
Marine insurers will be hit by low interest rates and a weak global economy, according to American Institute of Marine Underwriters Chairman Robert Gallagher…
Scottish independence could harm insurers: BIBA
26 November 2012
Some insurers could lose market share if Scotland votes for independence next year, the British Insurance Brokers’ Association has warned…
Sandy second only to Katrina in insured losses
19 November 2012
Hurricane Sandy continues to take its toll, with latest estimates putting insured losses at $US20-25 billion ($19.3-24.1 billion)…
Zurich falls on German GI writedown
19 November 2012
Zurich says pricing discipline and a strong focus on portfolio management contributed to a rise in business operating profit for the nine months to September, although a writedown of its German…
Catlin GWP rises 8%
19 November 2012
Lloyd’s insurer Catlin has posted solid figures for the nine months to September 30…
Scor Re delivers improvement
19 November 2012
French reinsurer Scor Re has recorded strong results for the first nine months of the year, with net income of €318 million ($393 million), up from €228 million ($282 million) in the previous corresponding…
Travis Atkinson to run IAG’s Malaysian joint venture
19 November 2012
AmBank Group has appointed Travis Atkinson as CEO of IAG’s Malaysian joint venture partners, AmG Insurance and Kurnia Insurans (Malaysia)…
UK skills gap closes, but concerns remain
19 November 2012
Skills shortages in the UK have eased but most insurers are still vexed by the issue, according to the Chartered Insurance Institute…
Insurance Hall of Fame candidates named
19 November 2012
Candidates for next year’s selection to the International Insurance Society Hall of Fame have been announced…
Munich Re raises its profit target
12 November 2012
Munich Re has lifted its full-year profit guidance off the back of encouraging third-quarter figures…
Benign nat cat environment helps Swiss Re to strong Q3
12 November 2012
Swiss Re has posted a net profit of $US2.2 billion ($2.1 billion) for the third quarter, up from $US1.3 billion ($1.2 billion) in the corresponding period last year, boosted by the sale of its US Admin Re…
Hannover Re Q3 healthier on rate rises, fewer catastrophes
12 November 2012
Hannover Re achieved a major improvement in profit for the nine months to September 30 thanks to fewer catastrophes and hardening rates…
Marsh & McLennan profit grows 24%
12 November 2012
Diversified insurance group Marsh & McLennan increased third-quarter net income 24.4% to $US917 million ($880 million) compared with the corresponding period last year…
Higher premiums, fewer catastrophes boost Allianz
12 November 2012
Rate rises and fewer catastrophes helped Allianz lift profit by 87% to €4.2 billion ($5.1 billion) for the nine months to September 30, with strong performances from the property/casualty…
Berkshire Hathaway insurance earnings fall
12 November 2012
Berkshire Hathaway’s insurance pre-tax earnings fell 58% in the September quarter to $US1.58 billion ($1.51 billion), mainly due to a $US1.47 billion ($1.41 billion) turnaround in reinsurance earnings…
Excellent quarter for XL Group
12 November 2012
A lull in natural catastrophes has enabled diversified insurer XL Group to post $US569.6 million ($547.35 million) in net income for the first nine months of the year, more than half a billion dollars…
UK brokers plan compulsory code of conduct
12 November 2012
The British Insurance Brokers’ Association will review its board governance, how effectively it works with other industry associations and development of a compulsory code of conduct for members…
US crop claims keep rising
12 November 2012
The insurance bill for US crop claims stemming from the prolonged drought could exceed $US25 billion ($24 billion), according to new government figures…