FSA fines Prudential for hiding AIG deal
08 April 2013
Prudential has been fined £30 million ($43.8 million) and for failing to tell the UK Financial Services Authority of its bid to buy AIG’s Asian life insurance business…
International
Late European winter causes $1.7 billion of damage
08 April 2013
March was an expensive month for Europe as wintry weather contributed to economic losses of €1.4 billion ($1.7 billion), a report by Aon Benfield’s Impact Forecasting shows…
GA share acquisition values Hyperion at $361 million
08 April 2013
International insurance intermediary Hyperion has a new shareholder, with US private equity group General Atlantic acquiring more than 30%…
Swiss Re and Berkshire Hathaway settle dispute
08 April 2013
The dispute over a life reinsurance contract between Swiss Re and Berkshire Hathaway has been settled…
UK motor rates turn again
08 April 2013
The challenging UK motor market almost broke even last year, figures from Ernst & Young show – but a softening in rates means the improvement will not last…
EIOPA opens consultation on Solvency II guidelines
08 April 2013
The European Insurance and Occupational Pensions Authority is seeking comments on its draft Solvency II implementation guidelines…
Japanese insurers seek earthquake premium rise
08 April 2013
Japanese property and casualty insurers have requested permission to raise earthquake insurance premiums by an average of 15.5%…
Asia-Pacific to dominate world growth: Munich Re
25 March 2013
Premium income from the Asia-Pacific region will double by 2020, contributing an extra €1 trillion ($1.24 trillion), according to a new report by Munich Re…
FM Global hails income turnaround
25 March 2013
FM Global recorded net income of $US774 million ($746 million) last year, compared with a net loss of $US41.5 million ($40 million) in 2011…
Investments turn a profit for Ecclesiastical
25 March 2013
Ecclesiastical Insurance has reported a £27.6 million ($40.1 million) profit for last year, driven by strong returns on investments…
More countries gaining stability: Aon
25 March 2013
Global political risk is decreasing, according to Aon…
British brokers suffer another PPI hit
25 March 2013
UK brokers have been hit with an additional £16 million ($23.28 million) bill for the Financial Services Compensation Scheme…
Insurers weather Sandy’s impact
25 March 2013
Superstorm Sandy’s impact on insurance markets “will not be devastating”, according to Marsh…
Munich Re remains optimistic for year ahead
18 March 2013
Munich Re is targeting a profit of almost €3 billion ($3.81 billion) this year and has forecast a sideways shift in the reinsurance renewals of April and July…
BIBA announces new CEO
18 March 2013
The British Insurance Brokers’ Association has appointed Steve White as CEO…
Allianz to concentrate on operations
18 March 2013
Low interest rates have forced Allianz to focus on technology, people and distribution, according to Board of Management Chairman Michael Diekmann…
Swiss Re looks to growth as rates firm
18 March 2013
Swiss Re will divert more capital to the property and casualty business as rates firm, according to Chairman Walter Kielholz…
Insurers must act on growing threat of tornadoes
18 March 2013
Tornadoes represent a serious and increasing threat to the insurance industry in the US, a new report from Lloyd’s warns…
Impact Forecasting unveils cat models
18 March 2013
Impact Forecasting has launched a new suite of catastrophe models focusing on historic and hypothetical events…
Insured losses from US drought soar
18 March 2013
Insured crop losses from the US drought could reach $US17 billion ($16.4 billion), according to a Munich Re report…