Fairfax given nod for Brit deal
30 March 2015
Fairfax Financial Holdings’ £1.22 billion takeover of Lloyd’s global specialty insurer and reinsurer Brit has been approved by two of Brit’s largest shareholders…
International
UN agrees disaster risk reduction plan
23 March 2015
A 15-year international framework for disaster risk reduction has been signed by 187 United Nations member states…
Police gets to grips with UK insurance fraud
23 March 2015
The City of London’s Insurance Fraud Enforcement Department has detected 1000 insurance fraudsters in the past two years, arresting 600, according to an Association of British Insurers report…
Disaster risk ‘tough to measure’
23 March 2015
Measuring progress in reducing disaster risk is perilously hard, catastrophe risk management group RMS has warned…
Industry makes inroads on Big Data
23 March 2015
Tackling fraud is among insurers’ main uses for Big Data, which is increasingly important to industry profitability and credit ratings, according to Fitch…
Global development drives losses: AIR Worldwide
23 March 2015
Global development, rather than increasing hazards, is the key driver of rising disaster losses, according to AIR Worldwide…
RIMS wants quicker TRIA certification
23 March 2015
The powerful Risk and Insurance Management Society wants the US Government to speed up its “act of terrorism” certification process, so insured claims can be quickly settled…
UK takes on Bermuda over catastrophe bonds
23 March 2015
The British Government plans to develop a corporate and taxation structure to attract insurance-linked securities business to the country…
Business group calls on ASEAN to drop insurance barriers
23 March 2015
The EU-ASEAN Business Council has published a paper on the insurance industry in southeast Asia, including recommendations for the continued development of a “world-leading and resilient insurance market”…
Asia-Pacific solvency strengthens
23 March 2015
Countries in the Asia-Pacific region are strengthening their solvency regulations, which is pushing insurers to improve enterprise risk management, according to Aon Benfield…
Ace creates regional role for ex-AIG VP
23 March 2015
Ace Group has appointed Jeslyn Tan to the new role of Regional Head of Agency Asia-Pacific, based in Thailand…
World’s annual disaster losses pass $US250 billion
16 March 2015
Annual economic losses from global disasters have reached $US250-$US300 billion ($329-$460 billion), according to a new United Nations study…
Oil producers face rising risk: Aon
16 March 2015
Fragile oil-producing countries such Iran, Iraq, Libya, Russia and Venezuela face increasing instability due to low oil prices, according to Aon’s latest Political Risk Map…
IAG welcomes Indian investment rule change
16 March 2015
India’s Parliament has approved a long-delayed bill to let foreign companies increase stakes in insurers from 26% to 49%.…
Munich Re eyes new risks
16 March 2015
Munich Re is pursuing new markets such as protection from cyber risk and supply chain interruption, amid fierce competition on its traditional turf…
Fitch forecasts more reinsurer M&A activity
16 March 2015
The soft market will fuel further mergers and acquisitions among reinsurers this year, according to Fitch Ratings…
US snowstorms bill tops $1 billion
16 March 2015
Insured losses from a heavy snow season in the US that left 72 people dead are likely to exceed $US1 billion ($1.29 billion), according to Impact Forecasting’s latest Global Catastrophe Recap…
Hannover Re upbeat after record profit
16 March 2015
Hannover Re is confident of another good year ahead after net profit grew 10.1% to a record €985.6 million ($1.36 billion) last year…
US analysts ponder meaning of 1% rate rise
16 March 2015
The composite rate for all US property and casualty lines was up 1% last month, compared with a flat result in January, MarketScout reports…
Freak weather ‘calls for new risk approach’
09 March 2015
Extreme, irregular climate patterns in recent years have put pressure on insurers worldwide to adopt a fresh take on risk strategy, according to Munich Re…