Plumeri places Sandy losses at $50 billion
12 November 2012
Insured losses from Huricane Sandy could match or even exceed the devastation caused by Hurricane Katrina, according to Willis Chairman and CEO Joe Plumeri…
International
US rates increase steadily
12 November 2012
US property and casualty rates increased 4% in October, according to US insurance exchange MarketScout…
Sandy batters US but insured losses fail to turn market
05 November 2012
Insured losses from post-Tropical Cyclone Sandy, which hit the US east coast last week, are estimated at up to $US20 billion ($19.2 billion)…
Reinsurance capacity near peak
05 November 2012
Global reinsurance capacity is at near-record levels and reinsurers are increasing their appetite for Asia-Pacific catastrophe risk despite the trauma of last year, according to Guy Carpenter’s latest…
BIBA unveils flood template
05 November 2012
The British Insurance Brokers’ Association has launched a template to help homeowners present their flood risks to insurers…
Haste joins Lloyd’s as deputy chairman
05 November 2012
Former RSA Insurance Group CEO Andy Haste has been appointed one of three deputy chairmen on the Lloyd’s Council…
AIG chief hails ‘extraordinary’ revival
05 November 2012
AIG’s third-quarter result completes an “extraordinary comeback” from the depths of the global financial crisis and a $US182 billion ($176 billion) US taxpayer bailout, CEO Robert Benmosche says…
Allianz strengthens position
05 November 2012
Global insurer Allianz has reported an operating profit of €2.5 billion ($3.1 billion) for the third quarter, up from €1.9 billion ($2.36 billion) in the corresponding period last year…
Liberty rings up a profit turnaround
05 November 2012
Boston-based insurer Liberty Mutual has delivered a $US1 billion ($965 million) turnaround in nine-month net income, although Hurricane Sandy is poised to damage future results…
Arthur J Gallagher posts strong third quarter
05 November 2012
Arthur J Gallagher says it remains on course to exceed its full-year net earnings estimate by “low to mid-single digits”…
Macquarie Bank UK quits broker loans market
05 November 2012
Macquarie Bank is winding up its UK cashflow lending business to insurance brokers, blaming market conditions in Britain…
Separate ‘pure’ brokers from credit brokers: BIBA
05 November 2012
Insurance brokers should not have to pay for the mistakes of insolvent credit brokers, the British Insurance Brokers’ Association says…
Reinsurance pricing to remain flat
29 October 2012
Pricing in the January 1 reinsurance renewals is expected to be relatively flat, delegates at the Baden-Baden meeting have heard…
New UK regulator will focus on insurers’ resilience
29 October 2012
Britain’s new insurance regulator has identified two statutory objectives for supervising insurers: to promote their safety and soundness and to work to secure appropriate protection for policyholders…
Sandy bears down on New York City
29 October 2012
Hurricane Sandy, which is heading for the northeast coast of the US, has already caused up to $US2 billion ($1.93 billion) of property damage in Cuba…
London market GWP rises 7%
29 October 2012
The London market recorded £17.26 billion ($26.8 billion) gross written premium (GWP) in 2011, up 7% from £16 billion ($24.8 billion) in 2010, according to the International Underwriting Association…
Geneva Association sings industry’s praises
29 October 2012
The insurance industry alleviates poverty, improves market liquidity and contributes to economic growth, according to international insurance think tank the Geneva Association…
Higher US profits offset by investment returns
29 October 2012
US property and casualty insurers are expected to report significantly improved profits this year, but weak investment returns and long-tail losses will put pressure on results, AM Best says…
UK regulator gives insurers more time on Solvency II
29 October 2012
British insurers have been given up to two years’ breathing space on tougher regulations requiring them to hold more capital against risks…
Aon grows revenue
29 October 2012
Aon has reported revenue of $US2.7 billion ($2.6 billion) for the quarter to September 30, up 1% on the corresponding period last year…