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…
International
P&C income increases 50% in US
18 March 2013
US property and casualty insurers reported a 50% rise in net income last year on lower catastrophe losses and higher earned premiums, according to Moody’s…
ABI calls for crackdown on UK ‘whiplash epidemic’
18 March 2013
The UK must shake off its reputation as the whiplash capital of Europe, the Association of British Insurers says…
JLT increases profit by 20%
11 March 2013
International broker JLT Group will continue to recruit for its specialty business, CEO Dominic Burke says…
Australian cedants help Hannover Re to record profit
11 March 2013
Hannover Re has posted a record net profit for the year to December 31, thanks to strengthened rates, improved investment conditions and fewer natural catastrophes…
Scor reports strong year
11 March 2013
French reinsurance group Scor recorded net income of €418 million ($534 million) in the year to December, up 26.7% on lower natural catastrophe exposures and solid investment returns…
US storms fail to flatten industry
11 March 2013
Four fierce storms hit the US last month but insured losses were “lower than might have been expected”, according to Aon Benfield subsidiary Impact Forecasting…
Doyle’s star rises at Dual
11 March 2013
Underwriter Dual has expanded the role of former Zurich Australia CEO Shane Doyle, appointing him CEO of Dual UK and Group Chief Underwriting Officer…
Claims data should be public: FSA
11 March 2013
UK insurers may be forced to publish claims data under proposals by the outgoing financial regulator…
American commercial and personal rates rise
11 March 2013
US commercial and personal line rates rose last month, but the markets are still categorised as flat by insurance exchange MarketScout…
Berkshire Hathaway insurance profit rises on fewer disasters
04 March 2013
Insurance companies in the Berkshire Hathaway investment group saw a significant improvement in underwriting profit last year as they recovered from earthquake and weather losses in 2011…
Liberty Mutual raises net income
04 March 2013
Liberty Mutual Insurance has reported net income of $US829 million ($812.65 million) for the year to December, up 131% on $US358 million ($350.9 million) in 2011, despite losses from Superstorm Sandy…
AIG targets global growth with life partners
04 March 2013
Recent alliances will help AIG turn its life insurance business into a global operation, according to CEO Robert Benmosche…
Social media seen as key to beating competitors
04 March 2013
Social media and mobile platforms are critical tools for insurers to improve customer engagement and fight off competition from new entrants, according to a global survey of insurance customer attitudes…
Coface profit jumps after restructure
04 March 2013
French trade credit insurer Coface reported an 80% increase in net profit to €129 million ($165 million) in 2012…
Brit cashes in on catastrophe drop-off
04 March 2013
Netherlands-based Brit Insurance has reported an 11% rise in total profit after tax for 2012, driven by lower natural catastrophe losses and higher investment returns…
9/11 disaster was two events, UK court rules
04 March 2013
Britain’s High Court has upheld a decision that the September 11 2001 attacks on the World Trade Centre Twin Towers were two events…
AIG celebrates ‘historic’ result
25 February 2013
AIG’s after-tax operating income grew more than 200% in the year to December 31, reaching $US6.64 billion ($6.45 billion) from $US2.09 billion ($2.03 billion) in the previous year…
Swiss Re profits from P&C premium rises
25 February 2013
Higher property and casualty premiums and fewer natural disasters helped Swiss Re to record a 62% rise in profit to $US4.2 billion ($4.1 billion) in 2012…
Domestic sales, fewer disasters boost Tokio Marine
25 February 2013
Tokio Marine Holdings has reported a ¥87.38 billion ($904 million) profit for the nine months to December 31, compared with a ¥19 billion ($190 million) loss in the previous corresponding period…