Capacity again curbs reinsurance rate increases
09 April 2018
Reinsurers have failed to push through significant rate rises in the April 1 renewal season as buyers maintain the upper hand in a market flush with capacity, according to Willis Re…
International
Mega-ships, technologies raising risk: IUMI
09 April 2018
Technological advances in the shipping industry are raising new concerns, alongside risks associated with operating ever-larger vessels, the International Union of Marine Insurance says…
Catastrophes rock property insurance market: Aon
09 April 2018
Last year was the third most costly on record for natural catastrophe losses in the property insurance market, according to an Aon report…
CSU forecasters flag another busy Atlantic hurricane season
09 April 2018
Colorado State University experts have forecast a slightly above-average Atlantic hurricane season this year…
Swiss Re upbeat as market turns
09 April 2018
Swiss Re says the outlook for the insurance industry remains positive as the market continues to improve…
US P&C rates improve
09 April 2018
Commercial lines in the US recorded rate rises of 1-5% in the first quarter, according to insurance analyst MarketScout…
South American drought takes heavy toll
09 April 2018
Economic losses in Argentina and Uruguay are expected to reach $US4 billion as the countries grapple with their worst drought in 30 years, Impact Forecasting says…
Energy market insurers slump to major loss
09 April 2018
The downstream energy insurance sector suffered its worst loss in nearly a decade last year, according a market review from Willis Towers Watson…
Cat losses slash FM Global profit
09 April 2018
Commercial and industrial property insurer FM Global’s net income fell to $US254 million last year from $US797 million in 2016, amid losses from “unprecedented” catastrophes…
Lloyd’s runs up rare loss as cats bite
26 March 2018
Lloyd’s expects no let-up in the tough trading environment after incurring a pre-tax loss of £2 billion last year, it’s first deficit in six years…
Australia helps lift Talanx industrial lines performance
26 March 2018
HDI Global parent Talanx says industrial lines gross written premium grew 4% to €4.45 billion last year, underpinned by strong underlying growth from international markets including Australia, Japan and France…
UK outlook ‘damaged by Brexit’
26 March 2018
AM Best has given the UK non-life insurance market a negative outlook, mainly due to expected Brexit fallout…
Insurers commit to pass on Ogden rate reform benefits
26 March 2018
UK insurers have welcomed proposed changes to the system for calculating serious personal injury compensation payouts, and have committed to pass on cost benefits to customers…
Chinese industry growth to slow: S&P
26 March 2018
The Chinese Government’s crackdown on the insurance sector is expected to cut growth in half over two years, according to S&P Global…
Lloyd’s issues mandate for electronic placement
26 March 2018
Lloyd’s syndicates will be required to have no less than 10% of their risks placed electronically from the end of the second quarter, and 30% by year’s end…
London faces major hit from ‘no-deal’ Brexit
19 March 2018
Financial services businesses face the largest cost impact by sector from Brexit, according to a report from Marsh & McLennan consultancy Oliver Wyman and law firm Clifford Chance…
Execs optimistic despite challenges
19 March 2018
The outlook among insurance chiefs is increasingly positive, according to PwC’s latest CEO Survey…
M&A activity drops amid Europe, China uncertainty
19 March 2018
The number of mergers and acquisitions in the global insurance sector dipped slightly last year, according to law firm Clyde & Co’s annual insurance growth report…
Munich Re raises profit guidance
19 March 2018
Munich Re has raised its profit target compared with last year, and expects to generate €2.1-€2.5 billion this year…
FCA seeks input on bid to improve culture
19 March 2018
The UK’s Financial Conduct Authority has called for a broad discussion on how a healthy culture can be driven by companies, regulators, employees and customers, as the sector continues to battle misconduct…