UK to impose flammable cladding ban
01 October 2018
Flammable cladding is to be banned on all new schools, hospitals, care homes, student accommodation and residential buildings above 18 metres…
International
People dithering over cyber risk
01 October 2018
Individuals remain unprepared for cyber attacks despite an increasing number of incidents, warns Chubb…
Lloyd’s returns to profit after natural catastrophe hit
24 September 2018
Lloyd’s reported a profit in the six months to June 30 after sliding to a loss last calendar year when claims from major catastrophes took a heavy toll…
Florence could cost insurers $6.3 billion
24 September 2018
Insurers face up to $US4.6 billion in losses from Hurricane Florence, which struck the US east coast earlier this month…
Big claims loom after Mangkhut flays Hong Kong
24 September 2018
Hong Kong insurers are bracing for up to $US1 billion in Mangkhut-related losses, S&P Global Ratings says…
Premium growth masks tough marine landscape: IUMI
24 September 2018
Marine insurers are operating in precarious conditions despite the sector enjoying a 2% rise in premiums to $US28.5 billion last year, the International Union of Marine Insurance says…
‘Unthinkable’ marine risks are now the norm
24 September 2018
Marine underwriters have no choice but to accept that abnormally large-loss events will occur with regularity, International Union of Marine Insurance (IUMI) President Dieter Berg says…
Insurers resetting investment risk limits, says BlackRock
24 September 2018
Insurers are increasing their appetite for higher risk investments despite challenging market conditions as they seek to boost earnings, according to an annual global survey for investment giant BlockRock…
Tokio Marine’s stake in Hollard SA gets thumbs up from Moody’s
24 September 2018
The 22.5% stake that Tokio Marine has acquired in Hollard South Africa and Hollard International has been declared credit positive by ratings agency Moody’s…
Industry can handle Florence losses: S&P
17 September 2018
US insurers and the global reinsurance sector are strong enough financially to manage the losses from Hurricane Florence, S&P Global Ratings says…
Super-typhoon Mangkhut batters Asia
17 September 2018
Parts of Asia face a massive rebuilding effort after the year’s most powerful tropical storm swept through the region on Saturday, leaving a trail of destruction in its wake…
Reinsurer consolidation continuing: Fitch
17 September 2018
Consolidation of the global reinsurance industry will continue as intense competition and high levels of capital drive mergers and acquisitions, says Fitch…
Axa seals XL takeover
17 September 2018
French insurer Axa has completed its US$15.3 billion acquisition of Bermuda-based XL Group…
Global fund buys majority stake in Sedgwick
17 September 2018
Sedgwick, the US-based company that took over major loss adjuster Cunningham Lindsey in December, will now be controlled by private equity fund Carlyle Group under a $US6.7 billion deal announced last week…
Huge protection gap offers growth prospect
17 September 2018
Addressing the large “protection gap” – more commonly referred to as non-insurance – could net insurers about $US800 billion in potential premium revenue, Swiss Re says…
Emerging risks offer PPE opportunities, Aon says
17 September 2018
Terrorism pools are providing an example for how private-public enterprises could boost cover for emerging risks and intangible assets, Aon says…
Fears of trade wars drive demand for credit covers
17 September 2018
Demand for trade credit and political risk covers are on the rise, fuelled by fears the ongoing US-China trade spat will worsen with repercussions for the global economy, a leading industry researcher says…
Revenue up, profits down as Charles Taylor expands
17 September 2018
Specialist loss adjuster Charles Taylor’s total revenue increased at a faster rate than its profits in the six months to June as the company expanded to service new customers…
Neal takes up a new challenge
10 September 2018
Former QBE group CEO John Neal’s appointment as CEO of Lloyd’s continues a recurring theme in his insurance career – transforming large but cumbersome organisations…
Tough times persist for reinsurers
10 September 2018
Reinsurers will struggle to make headway at the next rate renewal season and beyond, according to reports issued ahead of the annual Reinsurance Rendezvous in Monte Carlo…