Lloyd’s announces departure of General Counsel
14 August 2023
Lloyd’s has announced General Counsel Peter Spires will step down from his position immediately to “pursue fresh challenges”. ..
International
Crawford & Company Q2 revenue up 9%
14 August 2023
Claims management firm Crawford & Company posted a 9% rise in year-on-year revenue to $US320.67 million in the second quarter...
China P&C sector faces earnings threat from severe weather events
07 August 2023
S&P Global Ratings has warned frequent severe weather events could strain Chinese property and casualty insurers’ earnings, and force the industry to reassess its catastrophe and reinsurance strategies...
Gallagher confident after Q2 earnings rise
07 August 2023
Gallagher expects to maintain its revenue momentum for the rest of the year after second-quarter earnings increased, lifted by hardening rates...
AIG underwriting income hit by US storm losses
07 August 2023
AIG’s general insurance business made adjusted pre-tax income of $US1.32 billion in the second quarter, up from $US1.26 billion a year earlier...
WTW lowers 2024 targets as inflation impacts earnings
07 August 2023
WTW has lowered its 2024 targets for earnings and operating margins as an increase in interest rates and decline in capital market returns hit income...
Swiss Re ‘in good position’ to meet full year targets
07 August 2023
Swiss Re reported a resurgent profit in its half-year report after “solid” gains across market lines in the second quarter...
Axa on track for 2023 underlying earnings near $12 billion
07 August 2023
Axa’s first-half underlying earnings rose 5% to €4.1 billion, putting it on track to meet full-year targets...
Munich Re releases natural disaster loss figures for first half
31 July 2023
Munich Re’s half-yearly review of global natural disaster costs puts insured losses at $US43 billion, above the decade average of $US34 billion...
‘Strong’ pricing conditions, remediation boost Lloyd’s earnings outlook
31 July 2023
Lloyd’s is in a good position to perform well as the business benefits from strong pricing conditions and also from measures undertaken in the last several years to improve its operations, AM Best says in a credit rating update...
Chubb says earnings momentum intact as Q2 income surges 50%
31 July 2023
US insurer Chubb has posted increased earnings for the second quarter, buoyed by its core property and casualty business...
Aon well placed to meet 2023 guidance
31 July 2023
Aon’s revenue rose 7% to $US3.18 billion in the second quarter, with strong growth across most major geographies...
Class action alleges US insurer used algorithm to deny claims in bulk
31 July 2023
A lawsuit has been filed against US insurer Cigna alleging it used advanced technology such as artificial intelligence and algorithms to unfairly decline claims in seconds without opening files...
UK faces ‘insurance instability’ as flood risk worsens
24 July 2023
The UK needs to step up its efforts in responding to climate change or face the risk of homes without protection as floods and other extreme weather events intensify, outgoing Flood Re Chair Mark Hoban has warned...
Aon and Gallagher Re outline half-yearly natural disaster losses
24 July 2023
Reports from Aon and Gallagher Re have placed global insured losses from natural catastrophes for the first half of the year in the region of $US52 billion to $US53 billion...
Car insurance adds to weakening of US underwriting results
24 July 2023
Unprofitable auto results, caused by the cost of repair, supply chain delays and inflation, have contributed to a significant weakening of US underwriting results for the personal lines segment...
Liberty culls 370 jobs as operational changes announced
24 July 2023
Liberty Mutual Insurance will eliminate about 370 jobs in the US following operational changes that the insurer says are aimed at strengthening its business...
Swiss Re structures first corporate cat bond for named storms
24 July 2023
Swiss Re Capital Markets has structured and placed the issuance of a $US250 million insurance-linked securities catastrophe bond for Blackstone Inc...
Farmers Insurance exits Florida, limits new California policies
17 July 2023
Farmers Insurance will no longer offer home, auto and other policies in Florida under its main brand and has also restricted new policies in California, while AAA will also not renew the auto and home insurance policies for some customers in Florida...
Industry solvency, liquidity, profitability declined last year
17 July 2023
The International Association of Insurance Supervisors says in a mid-year update insurers globally have seen slight declines in solvency, liquidity and profitability positions at the end of last year from 2021...