Amlin in profit turnaround
27 August 2012
Lloyd’s insurer and reinsurer Amlin has returned to profit in the half-year to June 30, after a performance last year that was its worst since 2001…
International
End of an era for AIG bailout
27 August 2012
The Federal Reserve Bank of New York has sold the last remaining securities associated with the 2008 AIG bailout, securing a healthy profit for US taxpayers…
Zurich stronger on emerging markets
20 August 2012
Zurich has recorded a 17% rise in operating profit to $US2.5 billion ($2.38 billion) for the six months to June 30…
Japanese insurers on shaky footing
20 August 2012
Ratings agency Fitch says Japanese non-life insurers are vulnerable to unexpected rises in insured catastrophe losses or falls in the domestic stock market, as they try to restore capitalisation…
Florida regulator pushes QBE over LMI rates
20 August 2012
The Office of Insurance Regulation in Florida has rejected a rates filing from QBE US subsidiary Praetorian to cut its rates for lenders’ mortgage insurance by 2.2% – instead suggesting the insurer…
Class action against Gen Re may proceed
20 August 2012
Pension funds seeking millions of dollars in compensation from Berkshire Hathaway subsidiary Gen Re have been granted a second chance on appeal…
Kerner appointed Zurich general insurance CEO
20 August 2012
Michael Kerner is to become Zurich’s CEO of General Insurance, joining the group executive committee from September 1…
Ebix acquires London trading hub
20 August 2012
Global software provider Ebix has acquired UK-based TriSystems Ltd, an online insurance trading hub that enables commercial insurance and reinsurance transactions between London intermediaries…
US storm season not over yet
20 August 2012
North America’s eastern seaboard and the Gulf of Mexico face increased threats from storms in the next three months, according to Guy Carpenter…
Luxury cars perform badly in insurance crash tests
20 August 2012
Luxury cars have struggled in recent US safety tests, with brands such as Mercedes, Lexus and Audi rating poorly…
Swiss Re reports 3% rise in treaty renewals
13 August 2012
Swiss Re has reported rate increases of 3% from the July reinsurance treaty renewals, mostly from Australia, New Zealand and the Americas…
Munich Re ups half-yearly earnings but sees danger
13 August 2012
Munich Re’s consolidated profit came in at €1.59 billion ($1.85 billion) in the six months to June 30, putting it well on the way to beating its full-year target of €2.5 billion ($2.91 billion)…
Lloyd’s Market Association reviews BI after catastrophes
13 August 2012
The Lloyd’s Market Association is reviewing how Lloyd’s writes contingent business interruption after the heavy losses from last year’s catastrophes in Asia…
MMC continues strong start
13 August 2012
Diversified services firm Marsh & McLennan has continued its strong start to 2012, beating market estimates to post a second-quarter operating income of $US518 million ($488.73 million)…
Catlin up as catastrophes fall
13 August 2012
Bermuda-based insurer Catlin Group experienced a strong first half, with net income at $US206 million ($194.86 million), compared with a loss of $US198 million ($187.32 million) for the six months to June 30…
Solid results for XL Group
13 August 2012
Dublin-based insurer and reinsurer XL Group has posted solid results for the first half of the year, with a net income of $US397.8 million ($376.4 million), compared with a disaster-related net loss…
Hannover jumps on rate strength and lower losses
13 August 2012
Hannover Re enjoyed a strong six months to June 30, compared with the first half last year. The downturn in catastrophe losses drove operating profit up 139% to €597.2 million ($694.75 million)…
July marked by flood and drought damage
13 August 2012
While some big insurers enjoyed significantly lower losses from natural catastrophes in the first half of the year, the industry had to contend with major flooding in Asia and the growing magnitude of the US…
Marine insurance market strong despite recent losses
13 August 2012
The Japanese earthquake and tsunami, flooding in Thailand, the loss of the cruise liner Costa Concordia and the Rena oil spill off New Zealand have created numerous cargo, hull and liability claims…
US commercial rates up 4%, third month in a row
13 August 2012
July rates in the US commercial property and casualty sector have held steady at 4% for the third month in a row, according to insurance exchange MarketScout…