Premiums rise for female drivers under EU gender directive
04 February 2013
Early reports from UK motor insurance comparator sites suggest premiums have risen for women and held steady for men after the EU gender directive took effect in December…
International
Insurance-linked security issues continue to rise
04 February 2013
Funds raised through insurance-linked securities rose by 35% in 2012 as investors poured capital into a market that offered diversity and attractive returns…
Sandy insurance losses may top $US20 billion
04 February 2013
Superstorm Sandy is forecast to cost the insurance industry $US20 billion ($19.2 billion) – but it may not lead to a hard market…
Forum calls for severe weather risk mitigation
04 February 2013
Economic and environmental risks need to be dealt with across a range of industries and organisations, according to industry experts speaking at the World Economic Forum’s latest global risk briefing…
AIG lets go of final AIA stake
04 February 2013
AIG has sold the last of its shares in Hong Kong-based AIA for $US6.45 billion ($6.2 billion), bringing total returns from the sell-down to $US35 billion ($33.67 billion)…
Berkshire and Swiss Re face costly fall-out
10 December 2012
A life insurance contract dispute between Berkshire Hathaway and Swiss Re appears to have spread to the general reinsurance business…
US P&C performs well before Sandy effects kick in
10 December 2012
American property and casualty insurers enjoyed a healthy third quarter but face insured losses of up to $US25 billion ($23.87 billion) following Hurricane Sandy, according to a Moody’s Investors Services report…
British flood insurance losses at five-year high
10 December 2012
UK flood insurance losses for the year are estimated at £1 billion ($1.53 billion), after torrential rain killed four people and damaged more than 1100 houses last month…
HK market races ahead
10 December 2012
Hong Kong’s insurance industry grew 10% in the first nine months of this year, taking gross written premium (GWP) to $US190.1 billion ($181.63 billion) – more than five times the size of the Australian…
Islands want climate insurance as sea ice melts
10 December 2012
Small island nations have called for an insurance program covering climate change, as new data shows the Arctic sea ice melted at a record pace during the northern summer…
PICC lists with soft price
10 December 2012
The People’s Insurance Company of China launched on the Hong Kong stock exchange on Friday, raising $US3.1 billion ($2.96 billion) by floating a 16.7% stake…
Sandy, manufacturing industry drive US rates up
10 December 2012
US commercial and personal lines rates grew last month, with some lines showing significant increases, according to US insurance exchange MarketScout…
HSBC profits on Ping An stake
10 December 2012
HSBC is in line for a $US2.6 billion ($2.48 billion) capital gain after agreeing to sell its 15.6% stake in Chinese insurer Ping An to Thai group Charoen Pokphand for $US9.4 billion ($8.97 billion)…
Bermuda stays solid: AM Best
10 December 2012
Ratings agency AM Best forecasts an average return on equity of 10% for the Bermudian insurance and reinsurance market this year thanks to a “solid underwriting performance”…
QBE secures HK bank tie-up
10 December 2012
QBE Mortgage Insurance Asia has struck a deal with Hong Kong-based Fubon Bank to distribute its home loan insurance products…
Underinsurance taking toll on taxpayers: Lloyd’s
03 December 2012
Only $US116 billion ($110.87 billion) of the $US370 billion ($353.65 billion) in global economic losses last year were covered, according to the Lloyd’s Global Underinsurance Report…
Flood Re talks flounder as UK grapples with funding dilemma
03 December 2012
The UK flood insurance crisis has sunk to new depths, with the industry and Government unable to even agree on the status of negotiations…
Zurich stands by ‘ambitious’ targets
03 December 2012
Zurich is on track to deliver its targets for next year, despite rising catastrophe costs and a “more challenging” business climate, according to CEO Martin Senn…
Sandy losses continue to mount
03 December 2012
Swiss Re estimates its losses from Hurricane Sandy at $US900 million ($860 million)…
Industry ‘provides template for cutting disaster risk’
03 December 2012
Governments, non-profit groups and the private sector must learn from the “transformation of the insurance industry” to reduce disaster risk, according to the UK Government’s chief scientific adviser…