Chubb’s Q1 income rises
23 April 2012
Chubb has reported a small overall decline in first-quarter net income from $US509 million ($493 million) last year to $US506 million ($490 million) this year…
International
Catlin wins approval for Beijing office
23 April 2012
Lloyd’s insurer Catlin has been granted approval to open and operate a wholly owned representative office in Beijing…
IAG misses chance to increase India stake
16 April 2012
The Indian Government has shelved plans to increase foreign investment in insurance, a move that will prevent IAG from increasing its stake in its joint venture with the State Bank of India…
Global rates on the rise, says Marsh
16 April 2012
Marsh has reported an increase in global commercial and property insurance rates for the first quarter…
March catastrophes hit insurers
16 April 2012
Severe weather in the US during March caused $US2 billion ($1.9 billion) in economic losses and $US1.1 billion ($1.06 billion) in insured losses, according to Aon Benfield’s monthly Global Catastrophe Recap…
US commercial rates on the rise
16 April 2012
US home and commercial insurance rates increased in March, figures from insurance exchange MarketScout show…
CII outlines worst-case Eurozone scenario
16 April 2012
The UK Chartered Insurance Institute has forecast “Armageddon” for the insurance sector if the Eurozone implodes…
Probe extended into QBE lender-based insurance in US
16 April 2012
The US investigation into lender-based insurance, in which QBE is embroiled, has been intensified, with the New York Department of Financial Services to hold public hearings into the matter…
Equity Red Star still a drag on IAG UK
16 April 2012
IAG’s loss-making UK motor underwriter Equity Red Star continues to cost the group money, its 2010/11 accounts show…
Microinsurance reaches 500 million people
16 April 2012
The number of people covered by microinsurance has increased more than six times in five years, according to a survey by the International Labour Organisation and the Munich Re Foundation…
Lloyd’s suffers largest catastrophe claims year on record
02 April 2012
Lloyd’s has suffered its largest catastrophe claims year yet, with a loss of £516 million ($788.5 million) for 2011…
Economic losses from 2011 disasters hit $US370 billion
02 April 2012
Swiss Re’s latest Sigma report has revealed total economic losses from natural catastrophes and man-made disasters in 2011 hit an unprecedented $US370 billion ($357 billion), up from $US226 billion ($218 billion)…
Tornadoes, earthquakes and floods push FM Global into loss
02 April 2012
Natural disasters sent FM Global into a net loss of $US41.5 million ($40 million) for 2011 compared with a $US686 million ($662 million) profit in 2010…
Insurance supervisors must think globally, act locally
02 April 2012
Insurance supervisors must co-ordinate their actions globally and allocate resources to protect policyholders, according to the leader of the world’s government regulators…
New CEO for QBE First
02 April 2012
QBE’s US mortgage business QBE First has named Christopher “CD” Davies as its new CEO…
UK asbestos ruling mirrors Australian legal stance
02 April 2012
UK insurers now have the same liability for asbestos-related diseases as those in Australia after a new UK court ruling…
What the US market needs: III
02 April 2012
This year is “the first year since 2005 where economic perceptions and reality in the US will be positive”, according to Insurance Information Institute President Robert Hartwig…
Insurance leads complaints to UK authority
02 April 2012
Dissatisfaction with general insurance and income protection policies underlies a 21% increase in complaints to Britain’s Financial Services Authority in the second half of 2011…
Duperreault to chair US advisory committee
02 April 2012
Marsh & McLennan President and CEO Brian Duperreault has been named Chairman of the US Federal Advisory Committee on Insurance…
US lightning strikes an expensive business
02 April 2012
Lightning strikes cost US insurers $US798 million ($769 million) in losses during 2009, according to an assessor of electronics claims…