Chubb drops income in Q2
30 July 2012
Chubb has reported a modest drop in net income despite lower catastrophe losses in the second quarter…
International
WR Berkley’s Q2 revenue, profit and GWP rise
30 July 2012
WR Berkley’s revenue, profit and gross written premium all increased in the second quarter, in results Chairman and CEO William R Berkley describes as “satisfactory”…
US insurers worth banking on
30 July 2012
US insurers, unlike the banks, “operated normally” throughout the global financial crisis and continue to bolster the US economy, says Insurance Information Institute President Robert Hartwig…
Brokers resist funding change for compensation
30 July 2012
UK brokers have reacted angrily to new proposals by the Financial Services Authority to change the funding of the Financial Services Compensation Scheme, which pays customers for losses…
Aviation renewals continue to fall
30 July 2012
Aviation premiums have fallen 9% for the year to date, according to a market update by Aon Risk Solutions…
Willis boosts Asia focus
30 July 2012
Willis International is following the shift in economic power towards Asia and the Middle East with the creation of three new regional business units; Australasia, Asia, and the Middle East and Africa…
UK broker cops record fine
30 July 2012
A UK broker has been fined £471,846 ($711,836) and banned from working in the financial services industry…
Catastrophe models expand in Asia
23 July 2012
Weather-related risks in India, China and Japan have been the subject of new risk modelling arrangements made over the past few weeks…
The future is in ‘big data’, says ACORD
23 July 2012
US insurers are spending $US10 billion ($9.62 billion) a year – about 9% of their IT budgets – on data and analytics, according to a research study released by the Association for Co-operative Operations Research…
Delay for Solvency II start date
23 July 2012
The introduction of the Solvency II capital requirements for insurers could be delayed until January 1, 2014…
Insurers shifting focus to Asia, says Geneva Association
23 July 2012
Insurance industry leaders have significant concerns about the effects of inappropriate regulation and are planning to grow in Asia, according to the latest survey conducted by global insurance industry…
Lord Levene leaps from Lloyd’s to Starr
23 July 2012
Former Lloyd’s Chairman Lord Levene has joined Maurice “Hank” Greenberg’s Starr International as a director and vice chairman…
Mortgage insurers should stay at single-A: Moody’s
23 July 2012
Mortgage insurers with sound credit profiles should generally have stand-alone ratings limited to the single-A range, according to Moody’s Associate MD Stanislas Rouyer…
Asia-Pacific natural catastrophe losses fall
16 July 2012
Natural catastrophe losses in the Asia-Pacific region were moderate in the first half of 2012, accounting for only 4% of insured losses worldwide, according to Munich Re…
Deja vu for UK insurers as rain continues
16 July 2012
Continuing floods in the UK mean insurers may face the biggest payouts since 2007 and homeowners may be at risk of insufficient cover…
Light losses keep a lid on reinsurance prices
16 July 2012
Benign catastrophe activity resulting in plentiful capacity has capped upwards pressure on reinsurance prices, according to Guy Carpenter, the reinsurance broking arm of Marsh…
US weather leads June losses
16 July 2012
The US has endured a “highly active” month, with multiple natural disasters occurring from coast to coast, according to Aon Benfield’s Global Catastrophe Recap report for June…
Coface upgrades risk on southern Europe
16 July 2012
Worsening economies in southern Europe have prompted trader credit insurer Coface to upgrade the country risk for the region…
EIOPA Solvency II final report released
16 July 2012
The European Insurance and Occupational Pensions Authority has published its final report on insurers’ reporting and disclosure requirements under Solvency II, which it says will improve policyholder…
ILS activity at near record levels
16 July 2012
The insurance-linked securities market has had its most active first half since 2007, a Swiss Re report says…