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”…
International
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…
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…
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…