Global insurance deals halved value in 2019
10 February 2020
The value of mergers and acquisitions in the global insurance industry halved to $US43.63 billion last year...
International
Coronavirus tipped to hurt China’s insurers
10 February 2020
The coronavirus outbreak is likely to weigh on earnings at China’s general and life insurance firms this year, S&P says, although the ratings agency expects eventual mortality claims will be moderate...
Chubb in ‘excellent shape’ as earnings more than triple
10 February 2020
Chubb has started the year in “excellent shape” after the business finished the December quarter on a strong note, Chairman and CEO Evan Greenberg says...
WTW posts strong Q4 result
10 February 2020
A 13% jump in sales for the final three months of last year pushed annual revenue at Willis Towers Watson to $US9.04 billion, driven by robust generation of new business and strong client retention...
Talanx earnings hit record high of €923 million
10 February 2020
German insurer Talanx achieved record net income of €923 million last year, up almost a third from a year earlier and fulfilling the company’s ambitious guidance...
Moving into Europe tipped to ease UK insurers’ pain
03 February 2020
British insurers are likely to be impacted by negative effects on the local economy from Brexit, although creating subsidiaries in the European Union will counter the end of passporting rights in the longer term, says AM Best...
Digitalisation driving change: Swiss Re
03 February 2020
New data-driven insurance business models are set to emerge in the near future, fuelled by the digital transformation sweeping across the industry, a Swiss Re Sigma report predicts...
Insurtech investments set new record
03 February 2020
Investors poured a record $US1.99 billion into insurtechs around the world during the December quarter, up 32% from the previous quarter, according to a regular Willis Towers Watson industry update...
Climate action failure is ‘top risk to global prosperity’
03 February 2020
Failure to take action on climate change has been named the number one risk to prosperity in the World Economic Forum’s latest annual risk survey, ranking higher than weapons of mass destruction, cyber attacks and infectious diseases...
JLT acquisition pays dividends for Marsh
03 February 2020
Marsh & McLennan has produced a solid December quarter to finish the year strongly, lifted in part by its $US5.6 billion acquisition of rival broker JLT last April...
Organic growth gives Aon a strong year
03 February 2020
Aon has achieved a 35% rise in overall net income to $US1.53 billion for last year, driven in part by strong organic growth in its commercial risk solutions and reinsurance solutions arms in the December quarter...
Gallagher upbeat as brokerage, risk earnings grow strongly
03 February 2020
Gallagher is confident it has the “momentum” to continue performing strongly after its core brokerage and risk management arms achieved solid results last year...
Berkley sees ‘compelling evidence’ of stronger market
03 February 2020
WR Berkley gross written premium rose 10.1% in the December quarter, with the US-based company noting “further compelling evidence” of an improving market...
Weather dominates insurers’ catastrophe bill
03 February 2020
Natural catastrophes cost insurers $US53 billion last year, with severe weather perils such as hail and tornado accounting for the biggest share at 40.1%, Willis Re says in its annual catastrophe roundup...
US Congress renews terrorism insurance law
03 February 2020
The Risk and Insurance Management Society has commended the US Congress for authorising a seven-year extension of the Terrorism Risk Insurance Act, providing a critical financial backstop...
Catastrophes 'put $847 billion in jeopardy'
16 December 2019
Catastrophic events could wipe more than half a trillion dollars from world economic growth in 2020, according to the Cambridge Centre for Risk Studies’ latest Global Risk Index...
More competition and change predicted for US insurers
16 December 2019
Property and casualty insurers need to evaluate their distribution, underwriting, pricing and risk mitigation business models to break away from their competitors, a new report from Guy Carpenter says...
Lloyd’s creates technology and transformation group
16 December 2019
Lloyd’s has created a new Technology and Transformation Committee to oversee its Blueprint One plan to improve performance, and has also raised £300 million in debt to fund the program...
Global insurance deal value tops $22 billion in Q3
16 December 2019
Insurance industry deals around the globe reached a value of $US15.17 billion in the third quarter, GlobalData says...
‘Tell a better story’: talent drought challenges insurers
16 December 2019
Insurance leaders should update job descriptions to attract more tech-savvy workers and also consider how their corporate missions relate to younger generations looking for a sense of purpose from work...