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…
International
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…
Q1 profits boost Gen Re and Berkshire Hathaway
07 May 2012
Gen Re has posted strong first-quarter profit as it recovers from last year’s significant losses, reporting an underwriting gain of $US81 million ($80 million)…
Hannover Re earnings surge
07 May 2012
Hannover Re increased profit more than fourfold in the first quarter to €261 million ($333 million) as it rebounded from last year’s severe catastrophe losses…
37 countries more risky, says Aon
30 April 2012
Global broker Aon has downgraded 37 countries’ ratings in its annual risk assessment of global terrorism and political violence…
Reinsurers weather 2011 losses well
30 April 2012
Ratings agency AM Best has described the financial position of global reinsurers as “resilient” despite the numerous and severe loss events last year…
‘Stupid’ US insurers not raising rates, says Berkley
30 April 2012
US commercial property/casualty rates will have risen 8-9% by the end of this year, but some “stupid” companies haven’t begun raising their premiums, according to WR Berkley Chairman and CEO…
Willis reports flat revenue growth
30 April 2012
Willis Group Holdings has reported flat first-quarter revenue growth of just 1% for the three months ending March 31…
JLT reaffirms 2012 trading outlook
30 April 2012
Jardine Lloyd Thompson says it remains on track to meet its financial forecasts for this year…
Ace pre-tax profit soars
30 April 2012
Ace has reported a $US973 million ($938 million) pre-tax profit for the first quarter, a 289% increase on the same period last year…
WR Berkley’s Q1 income rises
30 April 2012
WR Berkley has reported a first-quarter net income rise to $US135 million ($131 million), up from $US116 million ($113 million) in the first quarter last year…
Axis reduces cat exposure
30 April 2012
Bermudian (re)insurer Axis Capital reduced its catastrophe reinsurance underwriting capacity for the first quarter of this year and says it will continue to hold back capacity “until market pricing better…