Liberty half-year net profit up 85%
09 August 2010
US-based insurer Liberty Mutual has reported an 85% increase in half-year net profit to $US535 million ($583 million), which the company attributes to the benefits of its global diversity…
International
BP oil spill insured losses relatively low
09 August 2010
Latest estimates put total insured losses from the Gulf of Mexico oil spill disaster between $US4-6 billion ($4.4-$6.6 billion), a fraction of the estimated $US35 billion…
Aggregators on the rise
09 August 2010
The use of aggregators is rising, with a UK survey revealing 40% of general insurance buyers have used a comparison site in the past 12 months…
Floods dominate July catastrophe report
09 August 2010
July featured some of the worst flood catastrophes in history, according to a report by reinsurance brokers Aon Benfield…
Strong second quarter from Ace
02 August 2010
Global insurer Ace has reported a 27% rise in net profit to $US677 million ($755 million) for the second quarter…
Asia-Pacific revenues lift Aon
02 August 2010
Aon Asia-Pacific region’s retail brokerage income was up 14% in the second quarter ending June 30…
Willis books first-half profit increase
02 August 2010
Global broker Willis Group has booked a 5% increase in first-half net profit of $US293 million ($326 million) as new business growth contributed to rising revenue…
Arthur J Gallagher releases Q2 results
02 August 2010
Global brokerage Arthur J Gallagher has reported a second-quarter profit of $US44 million ($49.2 million), up slightly from $US43.8 million ($49 million) from the corresponding period…
WR Berkley banks 13% rise in net profit
02 August 2010
Global specialty insurer and reinsurer WR Berkley has reported a 13.2% increase in net profit during the second quarter, returning $US110 million ($123 million)…
BP spill leads to ‘modest’ increase in offshore energy premium
02 August 2010
Despite its far-reaching consequences, the Gulf of Mexico disaster is likely to result in only “modest” rate hikes in the upstream energy insurance market…
UK fraud cases on rise
02 August 2010
UK insurers are detecting more than 2000 fraudulent claims every week as dishonest home and car claims drive the cost of insurance up by £840 million ($1.5 billion)…
US public-private deal a first for Swiss Re
02 August 2010
Swiss Re has launched what it claims is the first US public-private partnership of its kind in a deal with the Alabama State Insurance Fund…
UK brokers sign claims deal
02 August 2010
The Institute of Insurance Brokers and claims management service Claim Experts have agreed to give preferential rates to IIB members…
Willis slugs Aon over contingent commissions
26 July 2010
Willis has launched a withering attack on rival broker Aon, labelling the latter’s decision to resume commissions on retail business as “troublesome and ambiguous”…
Lloyd’s retains ratings tick
26 July 2010
Ratings agency Fitch has affirmed Lloyd’s credit rating ahead of forecasting its performance will suffer due to a “series of large losses”…
Liability lag limits D&O exposure: Moody’s
26 July 2010
Insurers’ exposure to the global financial crisis is being shielded by the length and complexity of class action claims in the US, a Moody’s report claims…
Natural disasters hit Chubb
26 July 2010
The cost of dealing with natural disaster claims has hit Chubb’s second-quarter net income, pushing it down $US33 million ($37 million) to $US518 million ($580 million)…
Soft conditions reign in US P&C market
26 July 2010
Excess capacity in the US property and casualty market has led to another quarter of declining renewal pricing as insurers continue to chase market share…
UK compo body weighed down by hefty costs
26 July 2010
UK brokers threatening to refuse to pay levies for a national compensation scheme won’t be happy to hear the scheme paid more than £204 million ($349 million) to 21,000 claimants…
Aon strengthens consulting arm
19 July 2010
Global insurance broker Aon Corporation will expand its consulting and outsourcing operations through a $US4.9 billion ($5.55 billion) merger with US-based human resources consultancy…