California fire risks fuel insurers’ exit
26 August 2019
Owners of properties located in the high-risk wildfire areas of California are finding it increasingly hard to buy home insurance...
International
UK regulator warns claims companies over poor practices
26 August 2019
Claims management companies risk losing their UK licences or other penalties if they are found to have misled customers through questionable advertising, the Financial Conduct Authority has warned...
Study finds ‘alarming’ differences among UK comparators
26 August 2019
Consumers in the UK are not getting the same product for the same price when they shop for their personal insurance needs on comparison sites, a study has found...
US insurers suffer earnings drop
26 August 2019
Property and casualty insurers in the US recorded a net underwriting income of $US4.8 billion in the June half, down 9.6% from a year earlier, ratings agency AM Best says in a report...
First half cat bill falls, less than half losses insured
19 August 2019
Global economic losses from all disasters fell to $US44 billion in the first half of the year, Swiss Re’s preliminary estimates show, down 13% from the first half of 2018...
Low UK cyber uptake worries ABI
19 August 2019
Up to 89% of UK businesses have no dedicated cyber insurance cover, leaving them potentially exposed to huge financial losses in the event of an attack, the Association of British Insurers says...
Talanx raises profit guidance after good first-half result
19 August 2019
German insurer Talanx has forecast full-year profit will top €900 million after its first-half result increased 9.4% to €477 million...
Aspen suffers loss, premiums down
19 August 2019
Aspen Insurance has suffered a net loss of $US37.3 million and a near 6% decline in gross written premium over the last six months, compared to the previous corresponding period...
Lekima’s insured losses to exceed $1.26 billion
19 August 2019
Insured losses in China from Typhoon Lekima will exceed ¥6 billion, modelling firm AIR Worldwide estimates...
Shortage of expertise affecting clients
12 August 2019
The complexities of the current global claims environment is straining available expertise and resources for insurers, adjusters and others and is starting to affect clients, Aon says...
Jebi now Japan’s costliest typhoon
12 August 2019
Typhoon Jebi, which struck Japan last September, has become the costliest storm on record for the country due to “loss creep” that has extended into this year, S&P Global Ratings says...
Zurich clocks best P&C combined ratio in a decade
12 August 2019
Zurich Group has lifted its first-half net income by 14% to $US2.04 billion, helped by a strong underwriting performance in property & casualty...
Coal retreat 'will boost reputations, ease risk'
12 August 2019
Insurers cutting back on cover to the coal sector are likely to benefit from an ”enhanced public reputation” and reduced exposure to future liability risks, data and analytics company GlobalData says...
Securities feel the pinch
12 August 2019
The insurance-linked securities market has continued to drop significantly, with only $US1.7 billion of non-life securities issued in the second quarter of this year, down from $US4 billion in 2018 and $6.2 billion in 2017 during the same period...
US tornadoes top first-half cat losses
05 August 2019
Insurers sustained losses of $US3.3 billion from thunderstorms with tornadoes in midwestern parts of the US in May – the industry’s most costly natural disaster in the first half of the year, Munich Re says...
Financial officers ‘vastly overestimate’ extent of their cyber cover
05 August 2019
Finance executives at the world’s top companies are wrongly assuming significant cyber risks are covered by their insurance, according to an FM Global survey which reveals a false sense of security at companies’ most senior levels...
Allianz records healthy operating profit in last half
05 August 2019
Allianz’s total operating profit grew 4% to €2.8 billion over the last six months compared to the corresponding period last year, the insurer says...
Gallagher happy as Australia And NZ premiums rise 7%
05 August 2019
Premium growth of 7% in Australia and New Zealand has again contributed to an “outstanding” quarter for global broker Gallagher...
Oz storms, Ethiopian crash push Swiss Re profit down
05 August 2019
Swiss Re’s net profit fell to $US953 million in the first half, from $US1 billion a year earlier, as natural catastrophes in Australia and fallout from the Ethiopian Airlines plane crash weighed on a strong reinsurance and investment performance...
11 tech teams join Lloyd’s Lab project
05 August 2019
Lloyd’s has welcomed 11 new InsurTech teams from more than 130 applicants for the third cohort of its “Lloyd’s Lab” after shortlisted firms presented their ideas to experts across the market during a pitch day...