Insurtechs draw record investment
19 February 2018
A record $US2.1 billion of venture capital was invested in insurtechs last year, while the number of deals hit a new high of 247, according to KPMG…
International
Ethnic minorities ‘quoted more for UK car cover’
19 February 2018
People with names common among ethnic minorities have been quoted more to insure their cars in the UK, according to two media investigations…
Nat cat record drags down Allianz profit
19 February 2018
Allianz has reported a 2.3% decline in net profit for last year, with CEO Oliver Bate blaming the industry’s “costliest natural catastrophe year”…
New accounting standard 'has minimal' impact
19 February 2018
General insurers are less affected than their life counterparts by the new accounting standard IFRS 9, which took effect at the start of this year, according to Fitch Ratings…
Arch Capital fights back with strong Q4
19 February 2018
Bermuda-based Arch Capital rebounded from a catastrophe-affected third quarter to post a stronger earnings result in the final three months of last year…
ISO enhances risk management standard
19 February 2018
A risk management standard has been overhauled amid threats to reputations and brands from cyber crime, political risk, terrorism and other sources, the International Organisation of Standardisation says…
Lloyd’s picks up pace on electronic placement
12 February 2018
Lloyd’s is pushing ahead with electronic placement as part of its modernisation program…
Catastrophes dent Munich Re profit
12 February 2018
Munich Re has posted a “small profit” of €392 million for last year, as predicted following hurricanes Harvey, Irma and Maria…
Aon puts together record earthquake cat bond
12 February 2018
Aon Securities says it has structured a record $US1.36 billion earthquake catastrophe bond for the World Bank, providing coverage for Chile, Colombia, Mexico and Peru…
Storms knock down Zurich P&C profit
12 February 2018
Zurich Group’s net profit fell 6% to $US3 billion last year as the “exceptional impact” of hurricanes hit its property and casualty business…
Record cat losses and US tax sting AIG
12 February 2018
AIG slumped to a deeper net loss in the fourth quarter, as record catastrophe losses and a one-off charge arising from US tax reforms hit earnings…
WTW grows broking revenue
12 February 2018
Willis Towers Watson’s corporate risk and broking business grew fourth-quarter revenue to $US777 million, rising from $US706 million in the corresponding period of 2016…
January storms cost European insurers $2.5 billion
12 February 2018
Storms that hit north and west Europe last month will cost insurers more than $US2 billion, Impact Forecasting says…
Hackers will target industrial assets, experts warn
12 February 2018
Chemical facilities, energy platforms and other critical industrial assets face increased risk of cyber attacks this year, according to Marsh & McLennan and cyber-security group FireEye…
Disaster-hit US insurers run up large losses
12 February 2018
The US property and casualty industry was in the red for a second consecutive year in 2017, with a larger net underwriting loss of $US29.3 billion, AM Best says…
Beazley flags premium rate gains after profit drops 43%
12 February 2018
Specialty insurer Beazley says pre-tax profit fell 43% last year to $US168 million after the industry experienced one of its most costly periods for natural disasters…
‘Exceptional’ cat losses hit Talanx result
12 February 2018
German insurer Talanx has provisionally reported a 26.1% decline in group net income for last year, blaming huge losses from hurricanes and other natural disasters…
Incumbents ‘assert control’ on insurtech industry
05 February 2018
Insurers and reinsurers are increasingly influential in insurtech, making 120 private investments last year and 35 in the last quarter alone, according to Willis Towers Watson…
Weather-related disasters break annual damage record
05 February 2018
Last year was the costliest on record for weather-induced catastrophes, with economic damage reaching $US344 billion, according to Impact Forecasting…
Cat bond market enjoys bumper year
05 February 2018
Catastrophe bond market issuance set new records last year due to strong investor demand, according to Willis Towers Watson and Aon Securities…