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…
International
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…
AIG repays US Government bailout debt
18 June 2012
US global insurance giant AIG has paid back $US39 billion ($38.65 billion) in debt to the US Federal Reserve…
Reinsurers yet to feel the pinch
18 June 2012
Reinsurers are not yet seeing their premiums rise to the levels that might be expected after a year that totalled more than $US100 billion ($98.9 billion) in insured catastrophe losses…
Outlook stable for brokers: Moody’s
18 June 2012
Ratings agency Moody’s says the outlook for the global broking sector remains stable, with turbulent economic conditions tempered by rate rises…
Turnaround predicted for UK broker market
18 June 2012
Years of contraction in the UK broker market are set to come to an end, industry research firm Ibisworld has forecast…
UK insurers face pressure from PM over floods
18 June 2012
UK Prime Minister David Cameron has promised flood victims his government will pressure insurers to settle claims and provide compensation…
Age discrimination laws won’t apply to UK insurers
18 June 2012
UK insurers will still be able to consider age in assessing risk and calculating premiums when new age discrimination laws come into effect from October…
Speculation builds over IAG UK sale
18 June 2012
A document detailing the recovery of Equity Red Star, IAG’s UK business, has been released to a targeted group of potential acquirers, providing a further signal that the business is for sale…
CII calls for industry action on climate change
18 June 2012
The insurance industry needs to get on the front foot and spread awareness of the necessity of action against climate change or risk a widespread market failure and insurance company insolvencies…
Ace acquires Indonesian insurer
18 June 2012
Ace is to acquire Indonesian insurer PT Asuransi Jaya Proteksi for $130 million in cash…
Dallas hailstorm could cost insurers $US2 billion
18 June 2012
Insured losses from a hailstorm that hit Dallas, Texas, last week could reach as much as $US2 billion ($1.98 billion), making it one of the most costly storms in US history…