Swiss Re doubles Q3 profit, sees turn in market
07 November 2011
Swiss Re more than doubled its profit to $US1.3 billion ($1.25 million) for the third quarter, due to premium growth and fewer catastrophe losses…
International
Liberty income down for Q3
07 November 2011
Liberty Mutual Group has reported a third-quarter net loss of $US111 million ($106 million) – a big drop from the $US567 million ($545 million) profit achieved in the corresponding period…
Insurers sluggish but conscious on social media
07 November 2011
Insurers are ill-prepared to face a social media revolution but are conscious that it will strike with force, according to several studies and reports…
Munich signals price hike ahead of January renewals
31 October 2011
Munich Re has flagged its intentions to push for higher renewal rates on casualty and liability treaties due to the ongoing low interest rate environment…
Thai floods strike industrial heartland
31 October 2011
Flooding in Thailand is affecting industrial estates north of Bangkok and claims are likely to amount to more than the current estimate of $US3.3 billion ($3.1 billion), according to estimates…
Turkey earthquake: Insured losses up to $US200 million
31 October 2011
Insured losses from the deadly eastern Turkey earthquake are likely to be in the range of $US55 million to $US200 million ($51 million-$187 million), most of which will be passed on to international…
Berkley and Ace slower, Arch happier
31 October 2011
Global insurer WR Berkley has posted a third-quarter income fall of 18% compared with the third quarter last year, dropping from $US93.6 million ($87.3 million) to $US77.3 million ($72.1 million)…
Large brokers cite organic growth as indicator of changing market
31 October 2011
Three of the world’s largest insurance brokers have reported organic growth in their third-quarter results, an indicator that market conditions are beginning to improve…
Nelson takes over at Lloyd’s
31 October 2011
UK financial services executive John Nelson has taken as Chairman of Lloyd’s, replacing well-known industry figure Lord Peter Levene…
Cost of life catastrophe reinsurance cover decreases
31 October 2011
Life insurers have been able to negotiate decreases in their reinsurance premiums this year, Aon Benfield has found in its 2011 Death and Disability Cat Benchmarking Study…
Third-quarter losses rack up for reinsurers
24 October 2011
Bermuda-based reinsurers have unveiled losses of up to $US460 million ($451 million) from global natural catastrophes for the third quarter…
Steady decline in pricing eases
24 October 2011
Stiff competition coupled with weak demand has resulted in flat pricing rates in the US, according to a survey by the Council of Insurance Agents & Brokers…
ABI issues UK flood cover warning
24 October 2011
The Association of British Insurers has warned that changes to the UK’s planning processes could result in a rise in uninsurable building projects…
US Insurance Office sets off on reform push
24 October 2011
The new US Federal Insurance Office is wasting no time making its presence in the market felt, calling for comments on ways to reform the country’s splintered and sometimes chaotic insurance…
Chubb takes a pounding in Q3
24 October 2011
US catastrophe losses have dragged Chubb Corporation net income down, with net third-quarter income at $US298 million ($288 million), compared with $US572 ($553 million) in the corresponding…
RBS Insurance to provide windfall to troubled parent
17 October 2011
Royal Bank of Scotland Insurance – the insurance arm of the Royal Bank of Scotland – is set to return as much as £1 billion ($1.54 billion) to its parent company in the short term…
European insurers facing ‘critical’ test, says AM Best
17 October 2011
The European general insurance sector is approaching a critical time which will “severely test” individual companies and the industry as a whole, according to a new report by AM Best…
UK insurers lose asbestos appeal
17 October 2011
UK insurers have lost a Supreme Court appeal to have compensation claims made in Scotland for the asbestos-related condition pleural plaques dismissed…
Category two hurricane makes landfall in Mexico
17 October 2011
Hurricane Jova, a category two storm, made landfall in Mexico last week but caused minimal insured damage…
US declares record number of disasters
10 October 2011
The US Government has declared a record-breaking 86 natural disasters in the past year, up from a previous record of 81 – a figure set only last year…