French flood bill to hit hundreds of millions
21 November 2011
The cost to insurers of recent floods in southeastern France has been estimated at €600 million to €800 million ($800 million-$1 billion)…
International
Watch out for riskier investments in insurers
21 November 2011
While insurance companies have survived this year’s natural disasters, the International Association of Insurance Supervisors has expressed concerns about investment risk…
Catlin boosts GWP
21 November 2011
Lloyd’s (re)insurer Catlin Group has reported a 12% increase in gross written premium for the nine months to 30 September…
New rules ‘will force UK life insurers to change’
21 November 2011
The UK life industry is facing significant regulatory change that will force insurers to change their business models, a new report by Standard & Poor’s says…
UK regulator fines life broker $308,000 for fraud
21 November 2011
The UK Financial Services Authority has fined a broker £195,117 ($308,000) for insurance fraud and banned him from carrying on regulated financial services…
Reinsurers see rates hardening
14 November 2011
Catastrophe losses hit the profits of Hannover Re and Munich Re for the first nine months of the year, although they have reported that premiums are growing and rates are hardening…
Allianz Q3 profit slumps, but Zurich profit up
14 November 2011
German insurer Allianz has seen its profit slump in the third quarter due to the impact of share market turmoil on its investments and writedowns on Greek bonds…
Asia-Pacific accounts for 80% of nat cat losses this year
14 November 2011
Weather-related catastrophes in the Asia-Pacific region have more than tripled in the past 30 years, according to research by Munich Re…
Reinsurers remain keen on Asia-Pacific, says Lloyd’s
14 November 2011
Global reinsurers are confident about opportunities in the Asia-Pacific region and remain interested in doing business there despite this year’s catastrophe losses, according to a survey from Lloyd’s…
Gen Re remains on track in third quarter
14 November 2011
Berkshire Hathaway subsidiary Gen Re has shrugged off a torrid claims period earlier this year to post encouraging results in the third quarter…
JLT says trading conditions continue to challenge
14 November 2011
UK-based broker Jardine Lloyd Thompson has described the insurance market over recent months as “challenging” and “competitive”…
Results are flatlining: MarketScout
14 November 2011
“Flat” is the word from US electronic insurance exchange MarketScout following the release of October results calculated on the composite rates for the US property and casualty sector…
Howden buys Southeast Asia’s largest independent broker
14 November 2011
UK-based Howden Broking Group has acquired the insurance operations of Accette Insurance Group in Hong Kong, Singapore, Thailand, Malaysia and the Philippines for an undisclosed sum…
Asia-Pacific reinsurance purchase growing but losses high
07 November 2011
The Asia-Pacific region accounts for less than 15% of excess of loss catastrophe premiums globally, but this year has provided 67% of reinsurers’ losses, according to Guy Carpenter’s 2011…
Insurers get the flow-on effect from Thai floods
07 November 2011
Losses from the Thai floods cannot be assessed with any certainty until floodwaters subside and access is regained…
UK broker associations’ merger to go ahead
07 November 2011
The merger between UK broker associations the British Insurance Brokers’ Association and the Institute of Insurance Brokers was formalised in London last week…
RBSI attracts venture capital bid: reports
07 November 2011
A private equity firm has reportedly made a bid to own some of the UK’s best-known insurance brands which are being sold by the Royal Bank of Scotland…
AIG losses continue in Q3
07 November 2011
American International Group (AIG) has reported an after-tax loss of $US3 billion ($2.9 billion) for the third quarter due to weak investment markets…
Bermudian insurers bounce back despite cat losses
07 November 2011
Bermudian insurers Axis Capital and XL Group have reported profits for the third quarter ending September 30, despite the cost of this year’s catastrophes…
Growth, rein on costs boost Marsh & McLennan
07 November 2011
Marsh & McLennan has reported strong revenue growth for the third quarter to September 30, with CEO Brian Duperreault saying all its divisions are growing and the group is…