Beazley grows GWP despite challenges
13 November 2017
Global specialty insurer Beazley reported gross written premium of $US1.76 billion for the nine months to September 30, up 6% on the previous corresponding period…
International
Aon risk ranking flags tech, innovation fears
13 November 2017
Disruptive technologies and failure to innovate have debuted in the top 10 risks facing financial institutions worldwide, according to an Aon survey…
Risk management programs gaining traction: RIMS
13 November 2017
About 61% of companies use enterprise risk management programs to direct their corporate strategies, according to a Risk and Insurance Management Society survey…
Competition stalling Asian rate rises
06 November 2017
Fierce competition among reinsurers in the Asia-Pacific region continues to stymie attempts to increase rates on catastrophe-exposed business, and is leading some to move capital to other markets such as life insurance, according to S&P Global Ratings…
Fintech presents ‘contradictory’ challenges
06 November 2017
Fintech innovations are creating “seemingly contradictory” challenges for insurers, according to a report from the World Economic Forum and Deloitte…
Chinese insurers turn to tech for competitive edge
06 November 2017
Big Data and other forms of digital technology will shake up the huge Chinese insurance market, according to S&P Global Ratings…
Cyber criminals hitting unprepared US SMEs
06 November 2017
More than half of US SMEs have experienced a cyber attack in the past year, but only 14% feel prepared for such events, according to an Insurance Information Institute white paper…
Insurtech ‘could tip global balance of power’
06 November 2017
Legacy-free insurance markets can take up innovative technology more quickly than developed markets, potentially altering the balance of power between the two, according to the latest insurtech briefing from Willis Towers Watson…
‘Severe’ cat losses push Swiss Re into red
06 November 2017
Swiss Re made a $US468 million net loss for the nine months to September 30 as catastrophe losses from Cyclone Debbie and hurricanes in the US and Caribbean hit profitability…
AIG runs up loss amid ‘unprecedented’ catastrophes
06 November 2017
AIG has reported a third-quarter net loss of $US1.7 billion, mainly dragged down by hurricanes in the US and Caribbean…
Willis Towers Watson upbeat despite loss
06 November 2017
Willis Towers Watson CEO John Haley is “very pleased” with third-quarter results that include rises in revenue and commission and fees, despite a net loss of $US54 million…
Storms, quakes hit Berkshire’s insurance result
06 November 2017
Berkshire Hathaway’s insurance underwriting arm has reported a third-quarter $US1.44 billion net operating loss, after sustaining $US835 million of losses from hurricanes in the US and Caribbean, plus earthquakes in Mexico…
Liberty Mutual takes hurricane hit
06 November 2017
Hurricanes Harvey, Irma and Maria left Liberty Mutual with a third-quarter loss of $US665 million, compared with a profit of $US445 million in the corresponding period last year…
Arch reveals loss in catastrophe-hit Q3
06 November 2017
Bermuda-based (re)insurer Arch Capital incurred a net loss of $US52.8 million in the third quarter, down from net income of $US247.4 million in the corresponding period last year…
Aspen hopes quarterly losses drive up industry pricing
06 November 2017
Aspen Insurance Holdings fell to a $US253.8 million loss in the third quarter, compared with a $US95.6 million profit in the corresponding period last year, after hurricanes and other disasters hit performance…
Reinsurers urge industry to take lead on disruption
30 October 2017
Insurers must move fast and take the initiative in transforming the industry, Munich Re CEO Joachim Wenning says…
Lloyd’s updates hurricane bill
30 October 2017
Almost $US900 million has been paid in claims for hurricanes Harvey, Irma and Maria, Lloyd’s says in an update…
Munich Re braces for $4 billion hurricane bill
30 October 2017
Munich Re has joined the growing hurricane casualty list, projecting a third-quarter net loss of €1.4 billion and discarding its full-year €2-€2.4 billion profit estimate…
Disastrous quarter leaves Lloyd’s exposed: Fitch
30 October 2017
Catastrophe losses from hurricanes, Mexican earthquakes and Californian wildfires may leave Lloyd’s exposed to a ratings downgrade, Fitch says…
US wildfire bill may top $3.9 billion: AIR
30 October 2017
California wildfires that destroyed about 8900 structures and killed 42 people will cost insurers $US2-3 billion, according to catastrophe modeller AIR Worldwide…