XL counts impact of Thai floods
13 February 2012
Flooding in Thailand and intangible losses on new acquisitions have eroded XL Group’s fourth-quarter results to a net loss of $US515.5 million ($479.2 million)…
International
Nat cats take a holiday in January
13 February 2012
January passed without any major natural disasters globally, according to Aon Benfield’s latest Global Catastrophe Recap report…
UK follows ‘twin peaks’ regulatory model
13 February 2012
Pilloried and applauded since it was first introduced, the “twin peaks” approach to prudential regulation is now to be practised by the UK’s Financial Services Authority…
Thai floods insurance cost could reach $20 billion
13 February 2012
Moody’s Investors Service has warned last year’s Thai flooding disaster could cost insurers between $US10 billion ($9.25 billion) and $US20 billion ($18.5 billion) in claims…
CII launches research project to mark centenary
13 February 2012
The UK’s Chartered Insurance Institute will mark its 100th anniversary as a chartered professional body by publishing a series of research reports examining global risk…
Arab Spring heightens political risk
13 February 2012
A wave of civil uprisings across the Middle East and Southeast Asia has raised the global level of political risk, according to the latest report from Aon Risk Solutions…
Insurers build understanding through modelling
13 February 2012
Personal lines insurers are committed to predictive modelling and now commercial lines issuers are using the statistical tool to improve their understanding of price and risk…
Royal Bank of Scotland Insurance rebrands ahead of sell-off
13 February 2012
Royal Bank of Scotland Insurance has adopted the moniker of its best-known brand, Direct Line, as its separation from its banking parent company continues…
US rates edge up
13 February 2012
US premium rates averaged a 1% increase in January 2012, with rates for workers’ compensation and commercial property the biggest movers, according to research from MarketScout…
US insurance industry still a year or two away from recovery
13 February 2012
The combined ratio for the US property and casualty industry is expected to climb to 107.5% for 2011 as natural catastrophes and poor investment returns wreak havoc on financial performance…
Natural disasters shake profit results
06 February 2012
The first round of global insurance financials have revealed an industry buffeted by claims but ultimately still profitable…
Munich Re posts profit despite cat claims
06 February 2012
Munich Re’s full-year profit plunged by €1.72 billion ($2.11 billion) as catastrophe claims and investment losses cut the German’s group’s annual result to its worst result since 2006…
Aon up in solid fourth quarter
06 February 2012
Global broker Aon has banked a full-year net income increase of 39% to $US979 million ($910 million), driven by the acquisition of human resources firm Hewitt…
Gallagher drives home strong quarter
06 February 2012
Global broker and risk management firm Arthur J Gallagher has booked a 27% rise in fourth-quarter profit to post year-end earnings before interest, taxes, depreciation and amortisation of $US428.4 million…
US insurance executives believe market outlook is positive
06 February 2012
A survey of leading US insurance industry executives has revealed that the majority believe the industry is in the early stages of a hard market…
Women to pay the price under EU gender changes
06 February 2012
Younger female motorists could suffer premium hikes of 11% or more after a European Union ruling preventing insurers from using gender when risk rating comes into effect later this year…
UK insurance sector views 2012 with pessimism
06 February 2012
UK insurance companies and brokers are expecting a bleak start to 2012 after profits and business volumes declined in late 2011…
UK flood risk could hit 200,000 households
06 February 2012
More than 200,000 houses in the UK could lose their flood cover if the insurance industry and the Government fail to negotiate a special agreement in the next 18 months…
Hannover Re reports significant price increases at January renewals
06 February 2012
Hannover Re has obtained significant price increases at the January treaty renewals, with average rises of 60% in Australian premiums…
UK to crack down on whiplash claims
06 February 2012
A UK parliamentary report into the cost of motor insurance has blamed the rise in premiums in recent years on a surge in whiplash claims…