UK storm losses set to rise to $730 million
09 March 2020
Insurers in the UK will probably pay about £363 million in claims for damages caused by Storms Ciara and Dennis, the Association of British Insurers has estimated…
International
#MeToo movement adds to D&O insurers’ challenges
02 March 2020
The #MeToo movement and other social media-driven campaigns to expose alleged sexual misconduct are adding to the already significant risk exposures facing directors’ and officers’ insurers, according to AM Best...
Lloyd’s closer to testing complex risk platform
02 March 2020
Lloyd’s says the new complex risk platform being developed as part of its Blueprint One overhaul will be tested this year before full scale-up in 2021...
Aon President set to appoint regional CEOs
02 March 2020
Aon’s Eric Andersen has been confirmed as the global firm’s sole president, taking up an expanded role that will include the appointment of regional CEOs as part of leadership structure changes...
Munich Re’s earnings exceed forecasts
02 March 2020
Munich Re has reported net income of €2.7 billion for last year, beating its forecast by €200 million...
Losses worsen at Berkshire’s insurance arm
02 March 2020
Berkshire Hathaway’s insurance business slumped to a larger underwriting loss of $US857 million in the December quarter from $US225 million a year earlier...
It’s all in the ID: keeping cybercrims away from the ‘jackpot’
02 March 2020
Breaches of machine identities make up 9-13% of economic loss caused by cyber crime, with large companies losing even more, according to the findings of a unique research project...
Gallagher retains its ‘most ethical’ title
02 March 2020
Gallagher has once again been singled out for ethical business practices in an annual survey by Ethisphere...
UK’s top car insurer cuts 800 staff as online uptake grows
02 March 2020
London-based motor insurer Direct Line is cutting 800 jobs as its customers increasingly embrace online options...
As insurtech matures, the deals get bigger
02 March 2020
The number of global insurtech deals dropped more than 40% last year as global investors focused on making a smaller number of large and high-quality deals...
Lloyd's offers cover for cryptocurrency wallet theft
02 March 2020
Lloyd’s has introduced a policy to protect against losses from the theft of cryptocurrency from online wallets...
Swiss Re takes further action on emissions
24 February 2020
Swiss Re has toughened up its response to the climate change threat by announcing a series of measures to cut carbon emissions...
Allianz P&C arm suffers earnings fall
24 February 2020
The property and casualty arm of Allianz suffered an 11.9% decline in operating profit to €5 billion last year, despite producing increased revenues of €59.2 billion, up 6.8% from 2018...
Axa XL takes steps to shore up earnings, appoints new CEO
24 February 2020
Paris-based insurer Axa has warned its bottom line will take a hit this year from costs aimed at shoring up earnings at Axa XL and announced it has appointed a new CEO to run the unit...
Swiss Re profits up despite catastrophe impact
24 February 2020
Swiss Re's full-year net income has soared 73% to $US727 million, despite the group suffering a $US2.7 billion hit from natural and man-made catastrophes...
Beale joins Crawford board
24 February 2020
Former Lloyd's CEO Inga Beale has been appointed an independent director of global claims management group Crawford & Company...
Merger and acquisition deals climb to four-year high
24 February 2020
The number of mergers and acquisitions globally in the insurance industry rose 10% to 419 deals last year, the highest in four years, international law group Clyde & Company says...
Renewables predicted to alter reliance on oil, mining
24 February 2020
The oil and mining industries make up around a third of demand for credit and political risk insurance, but that is set to change as interest in renewables rises, according to broker BPL Global...
Lloyd's set to update market on performance progress
24 February 2020
Lloyd's says improvements to the way the market operates will become tangible this year as it moves ahead with a blueprint to cut costs and overhaul its performance...
Airbnb, Uber 'blurring product lines'
24 February 2020
Analytics company GlobalData says the rise of sharing economy companies such as Airbnb and Uber pose both challenges and opportunities to insurance, blurring the lines for an industry which typically distinguishes between personal and commercial products...