US insurers expect low growth
09 July 2012
Continued slow growth in the insurance sector is turning the focus of US insurance executives inward as they grapple with operational issues, according to the latest Insurance Industry Outlook survey…
International
US flood insurance scheme extended
09 July 2012
The US Government has extended its National Flood Insurance Program for five years and will allow it to buy reinsurance cover from the private market…
Solvency II date set
09 July 2012
The European Parliament has affirmed January 2014 for implementation of the Solvency II regime for insurers and reinsurers in the European Union…
European insurers holding steady
09 July 2012
The market positions of Europe’s 10 largest general insurers remained relatively static last year, a new ranking from Spanish researcher the Mapfre Foundation shows…
US commercial rates up 4%
09 July 2012
The composite rate for US property and casualty insurance “held steady” at 4% for June, according to insurance exchange MarketScout…
Moody’s upgrades outlook for Japan insurance sector
09 July 2012
Ratings agency Moody’s has upgraded its outlook for Japan’s property and casualty sector and the life insurance industry to stable from negative…
Derecho hits eastern US
09 July 2012
The storm known as a derecho that hit 13 mid-Atlantic and midwestern US states has caused fatalities, extensive property damage and widespread power outages…
Being number one ‘no guarantee’
02 July 2012
Insurers should brace for “fast, relentless and potentially devastating” changes in the industry soon, says PricewaterhouseCoopers Global Insurance Leader David Law…
Axis board ousts founder Charman
02 July 2012
Bermudian insurer and reinsurer Axis Capital has replaced founder John Charman as chairman after a board dispute over the “role and responsibilities of the chairman position”…
Global insurance market continues to firm
02 July 2012
Rates in the global insurance market generally firmed in the second quarter of this year, with cyber security emerging as a key operational risk for organisations, according to global broker Marsh…
Mild increase to cost of risk, despite catastrophes
02 July 2012
The cost of risk increased only mildly in the past year despite catastrophe losses that were expected to affect premiums, according to the Risk and Insurance Management Society…
Profits up for US insurers
02 July 2012
A significant increase in property and casualty insurers’ net income and improved underwriting results have boosted the US market, according to first-quarter industry results of the Property Casualty…
EU tells brokers that reform will be balanced
02 July 2012
The insurance industry did not start the global financial crisis and reform of the sector will be proportionate and balanced, according to EU Commissioner Michel Barnier…
Moody’s places Genworth companies on review for downgrade
02 July 2012
Moody’s has put the debt ratings of Genworth Financial Inc and the insurance financial strength ratings of its US mortgage insurance companies on review for downgrade…
Price, profitability are global industry concerns
25 June 2012
Participants at the International Insurance Society’s annual seminar in Rio de Janeiro last week said pricing and profitability are the top concerns for life and general insurers…
QBE sees no significant impact from ruling
25 June 2012
The State of New York has ordered QBE to cut the cost of force-placed insurance after an inquiry found homeowners have been overcharged millions of dollars…
Lloyd’s warns of climate challenges
25 June 2012
Severe weather resulting from climate change will continue to devastate the globe, Lloyd’s has warned insurers…
Insurers asked to go green
25 June 2012
Companies’ strategies pose the greatest corporate challenge to implementing the United Nations’ Principles of Sustainable Insurance, according to a survey of delegates at the…
Lloyd’s looks to improve Names’ capital
25 June 2012
Lloyd’s needs to become more appealing to syndicates and new Names, Chairman John Nelson says…
Underground carbon storage ‘may cause earthquakes’
25 June 2012
Two US studies have raised questions over the risks of storing carbon emissions underground, linking the practice with an increased risk of earthquakes…