May catastrophes take toll on Italy, US
12 June 2012
Total loss estimates from the recent Italy earthquakes now stand at $US6.3 billion ($6.4 billion), and severe weather has affected the US and other areas, according to Aon Benfield’s monthly…
International
AIG’s Benmosche flags Chartis name change
12 June 2012
AIG CEO Robert Benmosche has confirmed the group is considering dropping the Chartis brand and renaming it AIG…
Hyperion creates Lloyd’s mega broker, but IPO ‘should wait’
04 June 2012
UK-based insurance group Hyperion, which owns the Dual underwriting agency, has acquired Lloyd’s broker Windsor ahead of a planned 2013 stockmarket float…
UK motor insurers may be referred to Competition Commission
04 June 2012
Britain’s Office of Fair Trading has provisionally decided to refer the country’s private motor insurance market to the Competition Commission after finding that referral fees and rebates boost insurance costs…
Italy aftershocks hit insured losses further
04 June 2012
Risk modeller Eqecat has more than doubled its estimates on insured losses in northern Italy, following two damaging aftershocks a week after the May 20 earthquake…
Lloyd’s reveals euro contingency plan
04 June 2012
Lloyd’s has reduced its exposure to the euro in preparation for a potential collapse of the single European currency…
Early hurricanes greet start of the season
04 June 2012
The 2012 North Atlantic hurricane season began on Friday, with risk modeller Risk Management Solutions predicting the number of tropical storms will be in line with the long-term average…
CII launches apprenticeships guide
04 June 2012
The UK-based Chartered Insurance Institute has launched a guide to hiring “apprentice employees” in the insurance and financial planning sectors…
Back to basics for US insurance market
04 June 2012
US insurers that remain committed to basic fundamentals and maintain a disciplined approach to underwriting and risk selection are better positioned to succeed, a Standard & Poor’s report says…
Local insurers ‘may not escape eurozone crisis’
28 May 2012
The stable investment portfolios of Australian insurers will come under pressure as the eurozone crisis grows, according to a leading investment manager…
Experts predict a ‘normal’ Atlantic hurricane season
28 May 2012
This year’s Atlantic hurricane season will be “close to the norm”, US scientists say – but that doesn’t mean US insurers should be complacent…
Chartis wants to go back to the future
28 May 2012
A senior Chartis executive has revealed the international arm of the business would like to go back to its old brand – AIG…
UK motor insurers’ losses continue
28 May 2012
The UK motor insurance market’s net combined ratio dropped to 106% last year, which was an improvement from the 120% recorded in 2010…
Insurers count losses from Italian earthquake
28 May 2012
Insured losses from the May 20 earthquake in Italy’s northern Emilia-Romagna region are estimated at $US127 million ($131 million)…
Regulation ‘threatens’ US reinsurers
28 May 2012
Too much regulation is threatening competitiveness for US-based reinsurers, according to members of the Reinsurance Association of America…
Aon promotes risk solutions chief
28 May 2012
Aon has promoted Steve McGill to the new role of group president, alongside his duties as chairman and CEO of Aon Risk Solutions, the company’s broking and risk management division…
China’s general insurance market ‘stable’
28 May 2012
Ratings agency Moody’s is maintaining a stable outlook for the Chinese property and casualty insurance industry…
UK insurers expect to miss Solvency II deadline
28 May 2012
An increasing number of UK insurers believe the industry will miss the January 2014 compliance deadline for the Solvency II capital regulation regime…
Allianz boosts Q1 profit
21 May 2012
Allianz has increased its first-quarter profit 60% to €1.37 billion ($1.76 billion) this year, due to the drop in catastrophes and improved market conditions…
Lloyd’s plans to boost global hubs
21 May 2012
Lloyd’s wants to attract more insurers to its London base while expanding its overseas hubs, particularly in Asia, as part of its Vision 2025 strategy…