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…
International
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…
Willis Q3 profit slumps
29 October 2012
Global broker Willis has reported a third-quarter profit of $US26 million ($25 million), down from $US60 million ($57.8 million) in the previous corresponding period, but outgoing Chairman…
Ace surges in third quarter
29 October 2012
Global insurer Ace has reported a rise in third-quarter net income on surging premiums and several bolt-on acquisitions…
UK car premiums soften
29 October 2012
Tough competition in the UK motor market has forced premiums down for the second time this year, continuing a trend of price volatility that is playing havoc with insurers…
WR Berkley profits rise sharply
29 October 2012
WR Berkley has increased third-quarter net profit by 32% to $US100.95 million ($98.1 million), with CEO and Chairman William Berkley calling an end to the soft market…
Chubb reports stronger third quarter
29 October 2012
US-based insurer Chubb has reported third-quarter net income of $US533 million ($515 million), up 78% from $US298 million ($287.94 million) in the corresponding period last year…
Aon calls for risk feedback
22 October 2012
Broker Aon wants risk leaders across the insurance industry to contribute to its forthcoming global risk management survey…
Galbraith to depart as BIBA chief
22 October 2012
Eric Galbraith, who oversaw a turbulent decade of regulation and reform as head of the UK’s peak insurance broking body, is to end his tenure as CEO…
JLT shares fall on dour update
22 October 2012
Global insurance broker JLT Group has taken a share price hit after warning of a drop in profits across its reinsurance business and European-based Thistle Insurance Services…
Indonesia insurance stable: Fitch
22 October 2012
The Indonesian insurance industry is expected to remain stable next year, with most insurers maintaining their financial fundamentals, Fitch Ratings says…
RAA wants framework for global reinsurance supervision
22 October 2012
The Reinsurance Association of America has called for a framework of regulatory co-operation between the US and the European Union…
Plumeri’s replacement another non-broker
22 October 2012
Famous for his New York swagger, unconventional management style and “anything is possible” mantra, Willis CEO Joe Plumeri is to step down after 12 years running the world’s third-largest brokerage…
Emerging markets enjoy commercial insurance boom
22 October 2012
Commercial insurance is growing two to three times faster in emerging markets than elsewhere, according to Swiss Re’s latest Sigma report…
Twin peaks provides better protection
22 October 2012
The CEO of the UK’s new Financial Conduct Authority says the forthcoming “twin peaks” model will provide more resources for protecting customers and policing institutions…
Insurer ensnared in Armstrong doping scandal
22 October 2012
A US insurer that underwrote performance bonuses paid to Lance Armstrong after winning his sixth Tour de France is preparing to sue the former champion cyclist…
Insurers divided on proposed US disaster laws
22 October 2012
Insurers and other interest groups are divided about new US legislation designed to protect residents from natural disasters…