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…
International
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…
Ebix backs Lloyd’s placing platform drive
26 February 2018
Ebix says it is fully behind Lloyd’s efforts to mandate the use of electronic placing platform PPL, which is powered by the insurance technology provider’s know-how…
Catastrophes send Swiss Re P&C unit into red
26 February 2018
Swiss Re’s property and casualty reinsurance business recorded a $US413 million net loss last year, hit by $US3.7 billion of claims arising from natural disasters including Cyclone Debbie…
‘Stage set’ for busy year of M&A
26 February 2018
This year could be prolific for insurance mergers and acquisitions, according to a report from Deloitte…
Scor profit cut in half after catastrophes
26 February 2018
French reinsurer Scor has reported net profit of €286 million for last year, down 52.6% on 2016…
Fairfax hails record result
26 February 2018
Despite huge catastrophe losses, Canadian insurance investor Fairfax says it has recorded the best result in its 32-year history, with profit at $US1.74 billion last year…
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…
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…