Lloyd’s bans ex-IAG UK chief
25 February 2013
Former IAG UK CEO Neil Utley has been banned from the Lloyd’s market for two years after settling two charges of detrimental conduct…
International
New British financial regulator named
25 February 2013
Bank of England Executive Director Andrew Bailey is to become CEO of the UK’s new Prudential Regulatory Authority from April 1…
American crop payouts fall short of expectations
25 February 2013
US crop insurance indemnities have come in below Congressional Budget Office estimates, according to the National Crop Insurance Services trade body…
Aviation, consumer goods and insurance ‘best risk managers’
25 February 2013
Aviation, consumer goods and the insurance industry itself have the best risk practices, according to the Aon Risk Maturity Index…
CEOs optimistic on growth, survey says
25 February 2013
Almost 90% of insurance company CEOs are confident about revenue growth, according to a new global survey…
Grant takes Dual role
25 February 2013
Specialist UK underwriter Dual has appointed Alan Grant as its new global non-executive Chairman…
Meteorite damage ‘is usually covered’
18 February 2013
Policyholders are generally covered for damage caused by meteors such as the one that exploded over Russia last week, catastrophe modeller AIR Worldwide says…
Willis ‘encouraged’ by full-year result
18 February 2013
Investors have pushed shares in broker Willis to a four-month high on the New York Stock Exchange after a better than expected full-year result…
Zurich steady in full-year result
18 February 2013
Surging investment returns in the fourth quarter have allowed Zurich Insurance Group to table a slight increase in full-year net income…
Marsh finishes strongly
18 February 2013
Diversified group Marsh & McLennan has locked in an 18% net income increase to $US1.18 billion ($1.15 billion) for the full year…
Arch extends profit in full year
18 February 2013
Bermuda-based insurance group Arch Capital has banked a three-fold increase in underwriting income for the full year, despite a large number of claims from Superstorm Sandy in the fourth quarter…
Damage from US snowstorm minimal
18 February 2013
There have been no reports of substantial structural damage from the wild winter storm that hit the US and Canada last week, catastrophe modelling firm AIR Worldwide says…
Sandy gives US P&C an underwriting loss
18 February 2013
The US property and casualty market was on track to record a significant improvement in profits last year…
Insurers told how to deal with ‘tsunami of change’
18 February 2013
Insurers can cut their finance operational costs by 30% and reduce risk by redesigning how their finance systems work, according to a new KPMG report…
Brokers and insurers at odds over UK reforms
18 February 2013
The controversy surrounding funding of the UK’s Financial Services Compensation Scheme continues, with insurers and brokers disagreeing over the latest funding plan…
Munich Re stages 2012 recovery
11 February 2013
Munich Re has posted a consolidated profit of €3.2 billion ($4.2 billion) for 2012, a significant boost from the €710 million ($926 million) figure it achieved in 2011…
XL returns to full-year profit despite Sandy losses
11 February 2013
XL Group has reported a profit of $US651.1 million ($631 million) for 2012, turning around the previous year’s loss which had been affected by catastrophes and goodwill impairments…
Axis turns on better result in 2012
11 February 2013
Axis Capital Holdings’ results jumped in 2012 as its exposures to natural disasters were offset by contributions made by prior year reserves…
‘Diversity and discipline’ key to Catlin profit
11 February 2013
Catlin’s combined ratio improved to 90.0% for 2012, compared with 102.6% in 2011, after reduced catastrophe losses, disciplined underwriting and rate improvements…
Chubb profit falls after Sandy losses
11 February 2013
US-based global insurer Chubb’s 2012 profit has fallen 12% after a catastrophe-hit fourth quarter…