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...
International
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...
WTW lifts earnings guidance after strong quarter and acquisition
05 August 2019
Global broker Willis Towers Watson more than doubled its second-quarter net income to $US138 million from $US58 million a year earlier as each of its four core business segments demonstrated healthy growth in revenue and operating income margin...
Growth for Hiscox
05 August 2019
Hiscox’s gross written premium rose by nearly 5% in the first half of the year compared to the same time last year, the insurer says...
First-half cat losses decline
29 July 2019
Global insured losses in the first half of this year fell to $US20 billion from $US27 billion a year earlier, according to preliminary estimates from Impact Forecasting...
‘One policy fits all’ doesn’t suit drone pilots
29 July 2019
London-based insurtech Flock has released a white paper on insuring drones and exploring the reasons why the traditional risk pricing approach of using historical data won’t work in this rapidly growing market...
Aon’s quarterly net income leaps
29 July 2019
Diversified global risk company Aon is celebrating a rise in net income from continuing operations this quarter...
Insurtech investment stays above $1.7-billion mark
29 July 2019
Investors pumped $US1.41 billion into insurtechs in the June quarter, marking the fourth straight occasion where investments have exceeded $US1.2 billion...
Silent cyber a sleeping giant in many policies
29 July 2019
Property and casualty insurers have been warned they may be on the hook for millions in insurance payouts because they have unwittingly included cyber coverage in many policies...
UK regulator to enforce fair treatment of vulnerable consumers
29 July 2019
The UK’s finance sector regulator has begun the first stage of a consultation on plans to “guide and enforce” fair treatment of vulnerable customers – which could be as much as 50% of the British population...
Loyalty penalties dent trust in UK insurers
22 July 2019
UK consumers are more harshly marking down insurers for their treatment of loyal customers, despite the industry tackling concerns about high renewal prices...
ABI slams injury payout change
22 July 2019
A key interest rate used to calculate personal injury compensation remains at unrealistic negative levels following a reset last week, the Association of British Insurers says...