Cat losses hit Hannover Re profit
19 March 2018
Hannover Re’s property and casualty business recorded an 11.8% decline in net income to €837.3 million last year as losses from Cyclone Debbie and other major catastrophes exceeded its provisions…
International
JLT reveals 44% gender pay gap
19 March 2018
JLT’s female employees are paid on average 44.1% less than their male counterparts, according to the broker’s gender pay gap report…
Fraud and ‘regressive’ tax drive up UK motor premiums
19 March 2018
UK car and van insurance premiums increased 10.7% and 9.1% respectively in the final quarter of last year, according to the British Insurance Brokers’ Association…
Axa leaps into P&C space with XL acquisition
12 March 2018
Axa says its $US15.3 billion purchase of Bermuda-based XL Group represents a “major leap forward” for the French insurer’s global ambitions…
Major losses as big freeze hits Europe
12 March 2018
Arctic conditions and storms across Europe caused significant insured losses, according to the latest monthly catastrophe report from Impact Forecasting…
Companies ‘unprepared for automation’
12 March 2018
Automation in the workplace, including the use of artificial intelligence and robotics, is expected to surge in the next three years, according to a survey by Willis Towers Watson…
Consortium tackles fintech cyber threat
12 March 2018
The World Economic Forum has established an international consortium to strengthen cyber security for fintech companies and data aggregators…
ABI demands Brexit deal for financial services
12 March 2018
The Association of British Insurers has welcomed a speech by Chancellor Philip Hammond proposing a close alliance with the EU on financial services post-Brexit…
Crawford profit slides amid international gains
12 March 2018
Claims management group Crawford & Co reported weaker full-year net profit as impairment charges offset a stronger operating result from its international division…
Axa in talks to buy XL: report
05 March 2018
French insurance giant Axa is in talks to buy US property and casualty insurer XL Group, according to reports today in US and European business media…
Commercial rates end 54-month decline
05 March 2018
Global commercial insurance prices have increased for the first time in more than four years, lifted by gains in the catastrophe-hit property sector, according to Marsh…
‘Good intentions’ fail to address UK gender imbalance
05 March 2018
Women hold just one in five senior UK insurance jobs, even though most companies have diversity strategies, according to the Association of British Insurers…
Industry ‘must tailor insurtech response’
05 March 2018
Insurers must adapt innovation activities to the needs of different business lines, according to a new report from research and advisory group Celent…
US class actions, evolving risks hit D&O market: Fitch
05 March 2018
A growing number of class actions and evolving risks for company leaders are creating challenges for the US directors’ and officers’ market, Fitch Ratings says…
Cat losses break Berkshire’s 14-year profit streak
05 March 2018
Berkshire Hathaway’s insurance business made an operating loss of $US2.2 billion last year – its first loss after 14 years of profit…
Disasters a ‘wake-up’ call on climate change impact
05 March 2018
Last year’s string of natural disasters underscores the urgent need for new covers that better reflect the impact of climate change, according to Munich Re…
Friederike leaves $2.3 billion trail of damage
05 March 2018
Swiss catastrophe data company Perils’ initial loss estimate for Extratropical Cyclone Friederike (also known as David) is €1.46 billion…
Hiscox profit dives after ‘historic year’ for catastrophes
05 March 2018
Hurricanes, earthquakes and wildfires slashed profit last year for Bermuda-based specialty insurer Hiscox…
Liberty focuses on P&C after rough year
05 March 2018
Liberty Mutual will hone its focus on property and casualty insurance after selling its life unit and reporting an earnings dive…
Customer service, legacy systems dominate tech strategies
26 February 2018
Insurers are focusing on a few key areas to bring their technology up to speed with other industries, according to AM Best…