insuranceNEWS.com.au - International

Liberty sells Thai, Vietnamese businesses

Mon, 03 Mar 2025 04:07:02 GMT

Liberty Mutual Insurance is selling operations in Thailand and Vietnam to Chubb as it focuses on other markets in the Asia-Pacific region...

Swiss Re ‘on right track’ as revenue grows

Mon, 03 Mar 2025 03:24:10 GMT

Swiss Re’s revenue climbed to $US45.6 billion ($73.4 billion) last year from $US43.9 billion ($70.6 billion) in 2023...

Allianz breaks annual profit record

Mon, 03 Mar 2025 03:23:53 GMT

Allianz’s operating profit jumped 9% last year to a record €16 billion ($26.8 billion)...

Munich Re beats target, expects LA fires to cost $2 billion

Mon, 03 Mar 2025 03:23:31 GMT

Munich Re achieved a net profit of €5.67 billion ($9.4 billion) last year, exceeding its €5 billion ($8.3 billion) forecast and its 2023 result of €4.6 billion ($7.6 billion)...

Swiss Re makes senior changes as CRO flags retirement

Mon, 03 Mar 2025 03:23:11 GMT

Swiss Re is searching for a group chief risk officer to replace long-serving Patrick Raaflaub, who is retiring...

Greco sets ‘most ambitious targets yet’

Mon, 24 Feb 2025 03:07:59 GMT

Zurich is targeting more than 9% annual growth in core earnings per share between this year and 2027, plus cash inflows of more than $US19 billion ($29.9 billion)...

British motor claims reach new heights

Mon, 24 Feb 2025 03:07:44 GMT

UK insurers paid a record £11.7 billion ($23.27 billion) in car insurance claims last year as increasing thefts and repair costs continued to dent the industry, according to the Association of British Insurers...

Motor business boosts Berkshire Hathaway earnings

Mon, 24 Feb 2025 03:07:29 GMT

Berkshire Hathaway’s underwriting earnings rose 66% to $US9.02 billion ($14.18 billion) last year, led by the Geico motor business, where a turnaround gathered strength...

Zurich flags $314 million hit from LA fires

Mon, 24 Feb 2025 03:06:52 GMT

Zurich estimates the impact on its business of record wildfires in California will be $US200 million ($313.82 million)...

‘Shocking’ LA fires show need for market reform: Howden Re

Mon, 17 Feb 2025 03:58:54 GMT

Regulatory reform and improved risk management are needed to create a stable and sustainable private insurance market in California after the LA wildfires, according to Howden Re...

California calls for $1.6 billion FAIR Plan support

Mon, 17 Feb 2025 03:58:42 GMT

Californian insurers have been asked to provide an additional $US1 billion ($1.6 billion) to the state FAIR Plan to ensure it can continue paying claims from the Los Angeles wildfires...

Catastrophes weigh on AIG result

Mon, 17 Feb 2025 03:58:21 GMT

AIG’s general insurance arm posted a 29% drop in fourth-quarter underwriting income to $US454 million ($722 million), driven by higher catastrophe charges...

Calgary hailstorm losses increase to $3.6 billion

Mon, 17 Feb 2025 03:58:08 GMT

Insured losses from a Calgary hailstorm last August have risen to $C3.25 billion ($3.6 billion), Catastrophe Indices and Quantification Inc estimates...

EY ‘optimistic’ on industry prospects despite challenges

Mon, 10 Feb 2025 02:25:46 GMT

Consultancy EY has released its 2025 global insurance outlook, outlining the industry’s key risks and opportunities...

Reinsurance exposure to US fires ‘significant’

Mon, 10 Feb 2025 01:59:31 GMT

The ultimate reinsurance exposure to the California wildfires will be significant but appears manageable, although the situation is evolving rapidly, AM Best says...

Marsh calls for resilience push after LA disaster

Mon, 10 Feb 2025 01:59:11 GMT

Marsh McLennan says subsidies for insurance are “the wrong conversation” after the record wildfires in southern California, and the focus should be on rebuilding communities so they are more resilient...

Chubb cops $2.4 billion Q1 cost for California fires

Mon, 10 Feb 2025 01:58:57 GMT

Chubb has estimated its first-quarter costs from last month’s Los Angeles wildfires at $US1.5 billion ($2.4 billion) before tax...

Aon annual sales climb to $25 billion

Mon, 10 Feb 2025 01:58:44 GMT

Aon’s revenue rose 17% last year to $US15.7 billion ($24.98 billion)...

Marsh ‘well positioned’ after strong year

Mon, 10 Feb 2025 01:58:30 GMT

Marsh McLennan’s revenue jumped 8% to $US24.5 billion ($39.06 billion) last year, as operating income rose 10% to $US5.8 billion ($9.25 billion)...

Howden revenue jumps in milestone year

Mon, 10 Feb 2025 01:58:13 GMT

Howden says it broke through the £3 billion ($6 billion) revenue level last year, supported by growth in the broking, reinsurance and Dual agency divisions...