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…
International
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…
Regulation the main issue for UK brokers
21 May 2012
Most UK brokers believe regulation is the main challenge to their businesses, with new commission disclosure rules on the horizon…
OAMPS UK accuses former manager of poaching
21 May 2012
OAMPS UK is suing a rival broker and a former executive over client and staff poaching, according to a report…
Boost for US property/casualty market
21 May 2012
A review of results for Moody’s-rated property and casualty insurers shows the industry’s net income is up substantially in the first quarter – around 70% more than the corresponding period last year…
UK brokers under Deloitte scrutiny
21 May 2012
Financial consultancy Deloitte is to review the British Insurance Brokers’ Association…
Cat bonds getting bigger, rates firming
21 May 2012
The catastrophe bond market shows signs of firming despite a record level of issues in the first quarter, says Guy Carpenter in a study of the market…
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…
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…