Larger losses loom from Thai floods
30 January 2012
Insurance losses from flooding in Thailand could reach $US20 billion ($18.8 billion), although a final figure won’t be known until all business interruption policies are processed…
International
Swiss Re gets a new CEO
30 January 2012
Swiss Re has appointed current Global Partnerships Chairman Michel Liès as the successor to outgoing CEO Stefan Lippe…
Insurers mop up after Costa Concordia grounding
30 January 2012
Liability claims from the grounding of the Italian cruise ship Costa Concordia could be the single largest insurance loss in maritime history…
Bermuda market ‘will retain its position’
30 January 2012
Bermuda will retain its leading position among global insurance markets despite regulatory pushes from Europe, rising catastrophe losses and a soft underwriting cycle, according to AM Best…
Buffett’s son to succeed – sort of
30 January 2012
Warren Buffett has named his preferred successor at the helm of US investment and (re)insurance giant Berkshire Hathaway, but the man tapped to inherit the billionaire’s vast empire will not serve…
Asian life and non-life markets tipped to grow faster
12 December 2011
The growth of life and non-life insurance in Asia will outpace developed markets next year, according to Swiss Re Chief Economist Asia Clarence Wong…
MarketScout sees end of soft market
12 December 2011
US electronic insurance exchange MarketScout has heralded the end of the enduring soft market cycle, with all classes recorded in the US market in November now either flat or up slightly…
Estimated losses from Thai floods keep rising
12 December 2011
Insurance losses from the Thai floods could reach as high as $US20 billion ($19.66 billion), according to US insurance guru Bill Berkley…
UK motor ratios set to break even
12 December 2011
The troubled UK motor insurance market could rebound as much as 20% this year after a string of shocking results…
BIBA says don’t blame insurance for global woes
12 December 2011
British Insurance Brokers’ Association CEO Eric Galbraith has called on the UK Government and the financial services regulator to stop blaming the industry for the global financial crisis…
Collective disaster insurance scheme for the Pacific
12 December 2011
A collective insurance scheme to pay for natural catastrophe damage in the Asia-Pacific region has been proposed by the Japanese Government, the World Bank and the Asian Development Bank…
Insurers agree on microinsurance measures for developing countries
12 December 2011
Munich Re and a host of specialist insurers are set to go ahead with an innovative micro-insurance project for developing countries…
Munich Re puts its money on renewable energy
05 December 2011
Munich Re says attempts to halt average global temperature increases to 2°C appear “doomed to failure” and has called for a concentration on renewable energy technologies by committed countries…
Euro debt crisis could tear strips of insurance companies
05 December 2011
Global insurer Swiss Re has warned insurance companies risk losing more than a quarter of shareholder funds if the five most troubled European economies default on their debts…
US reinsurers in the red zone
05 December 2011
Catastrophes have cut sharply into the bottom lines of US reinsurers, according to the Reinsurance Association of America…
Insurers rapped over UK riots
05 December 2011
The Association of British Insurers has rejected claims insurers favoured their big business clients in the aftermath of the August riots…
Industry costs from Thai floods could top $US20 billion
05 December 2011
Estimated losses from the Thai floods could be as high as $US20 billion ($19.58 billion), according to AM Best…
Goodnight Irene to the US hurricane season
05 December 2011
The US hurricane season has come and gone, with the predicted record windstorms failing to materialise. Of 19 named storms, only Hurricane Irene made landfall in the US…
US commercial lines worries S&P
05 December 2011
US commercial property and casualty insurers are facing continued weak pricing that will impact profits, Standard & Poor’s (S&P) warns in a new report on the US insurance industry…
QBE tipped as bidder for Brit Insurance’s UK business
28 November 2011
UK media have named QBE as a possible buyer of the UK retail arm of Brit Insurance…