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…
International
Liberty Mutual shakes off 2011 woes with strong Q1
30 April 2012
US insurer Liberty Mutual has joined its peers in reporting a solid first-quarter result as market conditions stabilised following the disasters of 2011…
Arch reports improved first quarter
30 April 2012
Arch Capital has reported a net profit of $US158 million ($152 million) for the first quarter…
Pirates prevail in African waters
30 April 2012
Pirate attacks off West Africa are growing more violent, according to the International Maritime Bureau’s latest global piracy report…
Marine market facing tough year despite falling losses
23 April 2012
The number of global shipping losses last year was 55 – down from 87 the year before – according to the International Union of Marine Insurance…
Catastrophes send Bermuda reinsurers into loss
23 April 2012
Bermuda-based reinsurers absorbed 45% of last year’s catastrophe losses, pushing nearly half of the companies into the red last year…
Property/casualty rates rising, says Willis
23 April 2012
Property/casualty insurance rates are increasing, according to Willis’ 2012 Marketplace Realities report…
Moody’s: UK general insurance outlook stable
23 April 2012
The outlook for UK general insurance remains stable, says Moody’s latest Industry Outlook report…
Insurance-linked securities post record quarter
23 April 2012
The insurance-linked securities market is booming with more issued in the first quarter of this year than at any other time, an Aon Benfield study shows…
Lower net income, more underwriting losses
23 April 2012
US property/casualty insurers’ net income fell last year, but rose in the year’s fourth quarter, according to the full-year industry results of the Property Casualty Insurers Association of America…
Arctic poses unique risks for insurers
23 April 2012
A new report from Lloyd’s examines what companies operating in the Arctic need to do to manage the unique risks they face…
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…
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…