US insurers face lose-lose situation on rates
15 July 2013
Interest rate rises have revealed a major dilemma for the US property and casualty sector, according to a report by ratings agency Moody’s…
International
McLarens acquires farm specialist Agrical
15 July 2013
International loss adjuster McLarens (formerly McLarens Young International) has acquired Agrical as part of its expansion in the UK commercial claims market…
Ward quits as Lloyd’s CEO
08 July 2013
Richard Ward will resign as CEO of Lloyd’s at the end of December after almost eight years in the role…
Alternative risk financing vehicles attract investors
08 July 2013
The reinsurance market’s capital structure is changing as investors grow more comfortable with alternative financing vehicles, according to Guy Carpenter…
Personal, commercial rates rise
08 July 2013
US personal lines rates increased by an average of 4% last month as insurers prepared for an active hurricane season…
British insurer dials up a $4.6 million fine
08 July 2013
The UK Financial Conduct Authority has fined a mobile phone insurer more than £2.8 million ($4.68 million) for failing to deal with customer complaints…
Warming oceans make extreme weather the ‘new normal’
08 July 2013
A “paradigm shift” in risk assessment methods is needed in the face of increasingly extreme weather events, according to the Geneva Association…
AIG, GE accept extra regulation, Prudential appeals
08 July 2013
AIG and GE Capital are to be among the first US groups designated systemically important non-bank financial institutions, after a 30-day appeal period passed…
British insurers gain confidence
08 July 2013
More than a quarter of UK general insurers are optimistic about the future, but only 3% have reported business volume growth since the March quarter, a survey shows…
Insurers struggle to attract new customers
08 July 2013
The global financial crisis has affected insurers’ ability to reach new customers, according to a report by Ernst & Young…
World market on slow road to recovery: Swiss Re
01 July 2013
Global insurance premiums are likely to rise at a moderate pace this year after returning to growth last year with a 2.4% increase, according to Swiss Re’s latest Sigma study…
Underwriting profits lift US insurers
01 July 2013
US property and casualty insurers’ net income after tax grew 41.2% to $US14.4 billion ($15.5 billion) in the first quarter of this year…
Reinsurer plans to drive down debts and costs
01 July 2013
Swiss Re has briefed investors on plans to reduce debt, cut costs and grow its dividend…
UK insurers and Government agree on flood cover
01 July 2013
The UK Government and the Association of British Insurers have signed a memorandum of understanding to develop a flood insurance pool…
BIBA consults on strategic review
01 July 2013
The British Insurance Brokers’ Association is seeking members’ views on its strategic review…
Politician accused insurers of dumping Long Island
01 July 2013
Insurers are withdrawing from the Long Island homeowners’ market following Superstorm Sandy, despite many properties avoiding damage, US senator Charles Schumer claims…
Fitch raises outlook for Lloyd’s
01 July 2013
Fitch Ratings has affirmed Lloyd’s of London’s insurer financial strength rating at A+ and revised its outlook from stable to positive…
Ironshore earns ratings upgrade
01 July 2013
AM Best has upgraded its financial strength and issuer credit ratings on Ironshore and affiliated operating companies…
Greenberg continues fight over AIG bailout
01 July 2013
The US Federal Claims Court has allowed former AIG Chairman and CEO Hank Greenberg to continue legal action against the US Government over its bailout of the insurer in 2008…
Regulation causes concern for insurers
24 June 2013
Capital management challenges and increased regulatory constraints are among the leading concerns for insurance executives, according to a global survey by risk consultants Towers Watson…