Myanmar begins to open insurance market
21 May 2012
The insurance market in Myanmar is beginning to open the door to competition, following recent democratic advances – but its high capital requirements are expected to deter insurers…
International
Zurich profit jumps from fewer disasters, higher premiums
14 May 2012
Global insurer Zurich increased profit by 78% to $US1.14 billion ($1.13 billion) in the first quarter, which CEO Martin Senn attributes to fewer catastrophes and disciplined underwriting…
Munich Re Q1 profit jumps
14 May 2012
Munich Re posted a €780 million ($999 million) profit in the first quarter of this year due to reduced losses from natural catastrophes as well as higher investment income…
UK regulator bans and fines executive chairman
14 May 2012
The UK’s Financial Services Authority has banned Mitsui Sumitomo Insurance Company (Europe) Executive Chairman Yohichi Kumagai…
US market hardening: MarketScout and CIAB
14 May 2012
The US market is hardening as property/casualty, professional and personal rates have increased, according to MarketScout and the Council of Insurance Agents & Brokers…
Catlin’s GWP and rates increase
14 May 2012
Insurer and reinsurer Catlin Group has reported increases in rates and gross written premium as it recovers from last year’s catastrophe losses…
XL first-quarter income rises
14 May 2012
XL Group’s first-quarter net income this year rose to $US176.6 million ($174.6 million) after lower natural catastrophe losses…
Allianz lifts Q1 profit 53%
14 May 2012
Allianz increased first-quarter profit by nearly 53% to €1.4 billion ($1.8 billion) in a rebound from last year’s catastrophe-affected result…
US Treasury to reduce AIG stake
14 May 2012
The US Treasury will sell down 9% of its AIG stake and aims to recover all its investment in the company, acquired in 2008 as part of a bailout of the insurer in the global financial crisis…
Strong Vietnamese market expected to continue
14 May 2012
Despite ongoing economic uncertainties around the globe, Vietnam’s insurance market is booming, says ratings agency AM Best…
Talks stall on US Government flood programs
14 May 2012
The US hurricane season starts in June, but authorisation of the National Flood Insurance Program is due to expire at the end of May…
BIBA launches broker search app
14 May 2012
The British Insurance Brokers’ Association has launched a “Find a Broker” mobile application for the iPhone and iPad…
Fitch maintains stable outlook for reinsurance
07 May 2012
The outlook for the global reinsurance sector remains stable, despite reinsurers being more exposed to potential catastrophe losses in 2012, according to ratings agency Fitch…
Currency, growth costs reduce Aon profit
07 May 2012
Aon felt the impact of unfavourable currency translation and costs associated with its expansion in the first quarter, with the group reporting a 3% fall in profit to $US238 million ($233 million)…
Marsh & McLennan net income grows
07 May 2012
Growth in risk and consulting helped Marsh & McLennan lift first-quarter net income 6.8%…
Gallagher first-quarter profit jumps
07 May 2012
Global broker Arthur J Gallagher increased profit by 86% to $US28.1 million ($27 million) in the first three months of this year on improvements in its brokerage and risk management operations…
April catastrophes hit US and South America
07 May 2012
US severe weather insured losses approached $US1 billion ($973 million) last month and economic losses were even higher…
Safer airlines deliver insurance profits
07 May 2012
Airline insurance-buyers in 2011 saw premium levels drop 2.4%, compared with 1.3% for the aviation manufacturing sector, according to Willis’ latest market review…
AIG profit rebounds
07 May 2012
American International Group reported a 48% profit jump for the first quarter, with its core insurance businesses all performing well and Chartis returning to profit…
Swiss Re’s Q1 income and revenue jump
07 May 2012
Swiss Re’s first-quarter results rose dramatically in the absence of natural catastrophes this year…