Cat losses send Axa XL into the red
25 February 2019
Axa XL posted a €233 million underlying loss last year, dragged down by significant natural disaster claims…
International
Lloyd’s mourns ‘pioneering’ ex-chairman
25 February 2019
Former Lloyd’s chairman David Rowland has died aged 85…
‘No intrusive remedies’: UK wholesale broker probe ends
25 February 2019
Some UK wholesale insurance brokers use contracts to restrict market competition and do not properly manage conflicts of interest, an investigation has found…
Healthy balance sheets help offset Brexit risk: S&P
18 February 2019
Strong capital positions and risk management processes in most European insurers will help them withstand Brexit shocks or a wider economic downturn, S&P Global says…
Winter storms, floods devastate Americas
18 February 2019
Natural disasters in the Americas caused billions of dollars of economic losses and many deaths last month, according to Impact Forecasting’s regular catastrophe recap…
Axa XL cuts European jobs following merger
18 February 2019
Axa XL plans to cut 711 positions in Europe, representing about 7% of its global workforce, as it continues to rationalise teams following last year’s merger…
AIG climbs towards the black in Q4
18 February 2019
AIG recorded a fourth-quarter loss of $US622 million, improving on its $US6.7 billion deficit in the corresponding period of 2017…
Aon warns on threat of internal data breaches
18 February 2019
Employees remain among the most common causes of cyber-security breaches, business have been warned…
Lloyd’s recruits Allianz, QBE execs for key roles
11 February 2019
Lloyd’s has appointed Allianz executive Burkhard Keese as CFO and has named former QBE North America head David Duclos to an advisory role supporting international development…
Lower cat bill drives Munich Re earnings
11 February 2019
Munich Re made a net profit of €2.3 billion last year, up from €392 million in 2017 when earnings were squeezed by record hurricane losses…
‘Elevated’ cat losses hit Chubb earnings
11 February 2019
Chubb posted a 77% drop in fourth-quarter net income to $US355 million as the California wildfires and other catastrophes took a toll…
P&C lifts Zurich performance
11 February 2019
Zurich’s operating profit gained 20% to $US4.6 billion last year on improved underwriting performance in property and casualty…
WR Berkley forecasts rate gains after tough quarter
11 February 2019
US insurer WR Berkley recorded a weaker fourth quarter amid catastrophes and “turbulent” securities markets, but says an improvement in rates is likely to continue…
Broking a strong point as WTW income dips
11 February 2019
Willis Towers Watson’s net income dropped sharply in the fourth quarter of last year, to $US174 million from $US253 million in the corresponding period of 2017…
Talanx exceeds profit forecast
11 February 2019
German insurer Talanx recorded net income of €703 million last year, €3 million more than its forecast in October…
Beazley hails rate momentum after profit slump
11 February 2019
Beazley’s pre-tax profit fell by more than half to £76.4 million last year, squeezed by storm and wildfire claims and a decline in investment returns…
Disasters push Aspen to another loss
11 February 2019
Californian wildfires, Hurricane Michael and Typhoon Jebi hit Bermuda-based Aspen’s final annual result before its acquisition by Apollo Global Management…
UK regulator seeks feedback on customer value reporting
04 February 2019
The UK’s Financial Conduct Authority is consulting on proposed rules to address poor-value general insurance products…
Global ransomware attack could cost insurers $37 billion
04 February 2019
Insured losses from a global ransomware attack could reach $US27.3 billion, a Lloyd’s-backed scenario analysis shows…
Accounting standard hits Aon results
04 February 2019
Aon has reported a drop in earnings for last year, blaming an “unfavourable impact” from the adoption of a new revenue recognition standard…