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…
International
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…
JLT Re takes aim at Asia
03 September 2012
JLT Reinsurance Brokers has increased its presence in Asia, as it seeks to build on what it considers a good fit between its strategic focus and the emergence of growing markets…
Reinsurers playing it safe in Asia, says Fitch
27 August 2012
The spate of Asia-Pacific catastrophes in the past two years has encouraged reinsurers to take stock of their existing portfolio and re-evaluate their underwriting approach and risk appetite…
Industry faces $US5 billion in crop insurance losses
27 August 2012
A Standard & Poor’s report on the US drought has put the cost to crop insurers and reinsurers at $US5 billion ($4.75 billion)…
Ecclesiastical says results ‘steady’ despite losses
27 August 2012
Ecclesiastical Insurance, the parent of Ansvar Insurance, has described the church-based insurer’s first-half results as “steady” despite underwriting losses of £14.4 million ($21.8 million)…
US insurers primed for growth
27 August 2012
US insurers can look forward to a bump in earnings over the coming months following a strong second quarter, according to ratings agencies…
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…
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…