Superstorm losses flow into January reinsurance renewals
11 February 2013
Hannover Re has reported “significant price increases” at the January 1 reinsurance treaty renewals, which it says has been affected by losses resulting from Superstorm Sandy…
International
Scor scores at renewals
11 February 2013
French reinsurer Scor Global P&C imposed a price rise of 1.9% net of inflation during the January renewals…
Australian, Indonesian floods hit infrastructure
11 February 2013
Flooding in Australia and Indonesia over January has caused economic losses of almost $6 billion and insured losses of $US624 million ($606 million) according to Aon Benfield’s Impact Forecasting…
US rates rise in fourth quarter
11 February 2013
Premiums in the US have continued their upward trajectory as insurers price up risk or walk away from loss-making market sectors…
Buybacks proposed in New York flood zones
11 February 2013
Properties hit by Superstorm Sandy could be purchased by the state and the land turned into open space or floodplains under a $US400 million ($388 million) proposal from New York Governor Andrew Cuomo…
British brokers set their targets for 2013
11 February 2013
The British Insurance Brokers' Association has announced its key priorities for 2013…
All change at Lockton
11 February 2013
Mike Hammond has been appointed CEO of the international division of US broker Lockton – Lockton Companies LLP – following the departure of Julian James…
Investor eyes stake in Hyperion
11 February 2013
US private equity company General Atlantic is in discussions to acquire a third of UK-based Hyperion…
China approves Ping An sale
11 February 2013
The sale of HSBC’s 15.57 % stake in Chinese insurance giant Ping An is to go ahead, with approval granted by Chinese authorities two months after it was first sought…
Willis sees more risk in mining
11 February 2013
The international mining sector faces unprecedented challenges as economic uncertainty combines with political volatility and the demands for commodities ebb and flow, according to global broker Willis…
Reinsurance renewals remain stable at January 1
04 February 2013
Most reinsurance programs have renewed at flat to slightly lower prices in the January 1 renewal season, as reinsurance capital rose to record levels, reinsurance brokers have reported…
Aon squeezes a 2% revenue rise for 2012
04 February 2013
Global risk group Aon says its revenue increased 2% to $US11.5 billion ($11.03 billion) for the year to December 31…
Arthur J Gallagher sees firming rates in 2013
04 February 2013
Global broker Arthur J Gallagher increased its profit by 35% to $US195 million ($186.7 million) in 2012 on strong organic growth and acquisitions…
Ace profit up despite Sandy, drought losses
04 February 2013
Ace increased its profit by 13% to $US2.6 billion ($2.5 billion) in 2012, despite $US502 million ($480.5 million) of pre-tax Superstorm Sandy losses in the fourth quarter…
Fourth-quarter surge aids Berkley
04 February 2013
WR Berkley has reported a stronger fourth quarter, boosting its 2012 full-year result…
Hyperion posts solid growth and expands in Singapore
04 February 2013
Hyperion Insurance Group has reported revenue from continuing operations of £111 million ($169 million) for the year to last September 30 – up 42% on the previous year…
2012 nat cats cost up to $US160 billion
04 February 2013
Natural catastrophes caused $US65 billion ($62.4 billion) in insured losses last year, according to Swiss Re and Munich Re…
Losses from natural disasters fall: Impact
04 February 2013
There were 295 natural peril events worldwide last year, causing total economic losses of $US200 billion ($192 billion) and insured losses of $US72 billion ($69 billion), according to Impact Forecasting’s…
Modeller sets odds on a catastrophic year
04 February 2013
The chance of enduring another year of losses comparable to 2011 is one in 15, according to catastrophe modeller AIR Worldwide…
Insurers criticise ‘too big to fail’ measures
04 February 2013
The International Association of Insurance Supervisors’ bid to regulate globally important insurers fails to present a clear view on systemic risk in the sector, resulting in incoherent measures…