UN warns on Asia-Pacific coverage gap
30 April 2018
The United Nations warns economic losses from natural disasters in the Asia-Pacific region could cost more than $US160 billion a year by 2030…
International
Munich Re to axe 900 jobs, flags higher Q1 profit
30 April 2018
Munich Re will cut about 900 jobs worldwide by 2020, including 480 at its German base, as part of its drive to lift efficiency and simplify the operating structure…
Investors shrug off losses and stick with reinsurance
30 April 2018
Reinsurers have emerged from one of the worst catastrophe years on record with little change in capacity, a new market analysis reveals…
Lloyd’s tech lab moves closer to launch
30 April 2018
Lloyd’s Lab is on course to open in September following the appointment of two companies to support its set-up and operation…
Post-Grenfell study uncovers flaws in UK fire safety testing
30 April 2018
Research conducted following the Grenfell Tower fire in London shows the UK building materials testing regime may be fatally flawed…
Fitch awaits clarity on blockchain pros and cons
30 April 2018
The advantages and risks of blockchain technology will be become clearer over the next three to five years, Fitch Ratings says…
Cat bonds set record as investors stay aboard
30 April 2018
The catastrophe bond market has powered to a first-quarter record, putting to rest suggestions that investors may step away after last year’s string of natural disasters…
Chubb sees US commercial rates rising
30 April 2018
Commercial property and casualty pricing is continuing to rise, Chubb says…
WR Berkley upbeat as market moves in ‘right direction’
30 April 2018
WR Berkley expects an improving environment will lift earnings this year, building on a “solid start” in the first quarter…
Risk and insurance business lifts Marsh & McLennan
30 April 2018
Marsh & McLennan made a first-quarter net profit of $US690 million, up from $US569 million in the corresponding period of last year, thanks to solid results from its risk and insurance services arm…
Scor increases profit
30 April 2018
French reinsurer Scor has reported a first-quarter profit of €166 million, up 18.6% on the corresponding period last year…
Capacity spikes before mid-year renewals
23 April 2018
Global reinsurer capital is at peak levels ahead of the mid-year renewals in June and July, says reinsurance broker Aon Benfield’s latest report…
Lloyd’s flags coverage gap in sharing economy
23 April 2018
Lloyd’s is encouraging insurers to play an important role in growing the sharing economy by offering new types of cover to participants…
PPI scandal drives spike in UK complaints
23 April 2018
The number of complaints to UK financial services businesses rose 13% in the second half of last year, the Financial Conduct Authority says…
Risk management off the pace as technology evolves
23 April 2018
Risk professionals are not keeping pace with disruptive technology impacts and need to take a broad view across their organisations, according to an annual report by Marsh and the Risk and Insurance Management Society…
Rate rise lifts Swiss Re
23 April 2018
Swiss Re pushed through a 2% price rise across its property and casualty portfolio and underwrote $US8.1 billion in premium during the renewal season…
US weighs affordability options for flood insurance
23 April 2018
The US Federal Emergency Management Agency has unveiled options to develop an affordability program for flood insurance sold under the National Flood Insurance Program…
Risk of war at ‘post-Cold War high’
16 April 2018
The threat of war is at its highest point since the Cold War ended nearly three decades ago, according to Aon’s annual Political Risk, Terrorism and Political Violence Maps…
Insurtech M&A values triple, as investments set record
16 April 2018
The value of mergers and acquisitions (M&A) in the insurtech space soared last year to more than three times the 2016 figure, according to Willis Towers Watson research…
Insurance groups ‘unprepared for climate impact’
16 April 2018
The Sustainable Insurance Forum and the International Association of Insurance Advisers have released a draft paper on climate change risk, showing how the crisis may affect the industry in the areas of underwriting, investment and regulation…