Capital hits record levels as the industry gathers for annual talkfest
10 September 2012
On the eve of the annual Reinsurance Rendezvous in Monte Carlo, Aon Benfield has reported that reinsurance capital in the industry has hit record levels…
International
Swiss Re highlights increase in flood losses
10 September 2012
Insured losses from floods have increased from $US1-2 billion in 1970 to $US15 billion in 2011, according to a Swiss Re report…
UK to clamp down on sales incentives
10 September 2012
The UK Financial Services Authority has declared war on sales incentives – a move hailed by brokers…
Hurricanes see record year for insurance-linked securities
10 September 2012
US hurricane risks are behind the boom in insurance-linked securities, according to a report from Aon Benfield Securities…
Windstorms wreak havoc in August
10 September 2012
The US Gulf Coast suffered its first hurricane landfall since 2008 when Hurricane Isaac brought a 4.57-metre storm surge, inland flooding and powerful winds causing billions of dollars of damage last month…
AIG sells more of AIA
10 September 2012
AIG has sold almost 600 million AIA shares for $US2.02 billion ($1.94 billion)…
Lloyd’s appoints new global director
10 September 2012
Lloyd’s has appointed former Zurich CEO of Global Corporate Asia-Pacific Vincent Vandendael as Director, International Markets…
Dual rebrands in the Americas
10 September 2012
UK-based underwriter Dual says its US and Latin American businesses will adopt the Dual name from October 1…
Swiss insurers avoid new regulations
10 September 2012
The Swiss financial services regulator will allow insurers “breathing space” on solvency requirements, as low interest rates continue to hit investment income…
US rates climbing, MarketScout says
10 September 2012
US rates are continuing to harden, according to information exchange MarketScout…
US court allows WTC to sue airlines over September 11
10 September 2012
The owner of the World Trade Centre’s twin towers will continue legal action against airlines over the September 11 terrorist attacks, after a New York judge refused to dismiss the case…
Guy Carpenter to open in Shanghai
10 September 2012
The China Insurance Regulatory Commission has granted reinsurance broker Guy Carpenter permission to open a Shanghai office…
Alternative reinsurance here to stay, but likely to remain niche
03 September 2012
Capital market reinsurance models such as catastrophe bonds, sidecars and hedge fund-backed reinsurance start-ups are an increasingly viable alternative to traditional reinsurance, a new report by…
New flood systems beat Isaac on Katrina anniversary
03 September 2012
Seven years after Hurricane Katrina devastated New Orleans, Hurricane Isaac crossed the Louisiana coast last week, testing defences built after the August 2005 disaster…
Lloyd’s bids for ‘United Nations of Insurance’ title
03 September 2012
The new strategic direction for Lloyd’s will see the market build a “United Nations of insurance” off the back of booming developing markets, according to reinsurance broker Guy Carpenter…
US drought bill growing for crop insurers
03 September 2012
The US drought is spreading to more states as analysts continue to revise insurance cost forecasts upward…
QBE Aviation gives something back
03 September 2012
US-based QBE Aviation will pay a 22% “good experience return” to the Independent Fixed Base Operators Association’s workers’ compensation scheme…
US reinsurers more profitable in first half
03 September 2012
US reinsurers made a combined profit of $US3.7 billion ($3.56 billion) in the six months to June 30 – up substantially on the previous corresponding period when they were hit by earthquake, tsunami…
Ebix banks on Indian boom
03 September 2012
Software supplier Ebix is to expand its Indian workforce amid a boom in the business process outsourcing sector…
Zurich looks to emerging markets
03 September 2012
Zurich is seeking further growth in emerging markets, with CEO Martin Senn saying the group wants to buy more licences in Chinese cities…