US backs federal office on insurance
16 August 2010
The US insurance industry has welcomed the fulfilment of an Obama Administration-backed pledge to establish a federal regulatory body…
International
Catlin takes profit hit, but fundamentals strong
16 August 2010
Bermuda-based property and casualty insurer Catlin has taken a hit in first-half earnings as adverse foreign currency movements and higher claims eroded the group’s profit base…
Plenty left to do, says new risk chief
16 August 2010
The financial crisis has raised risk awareness, but the new Chairman of the London-based Association of Risk and Insurance Managers says there is still plenty left to do…
Cat bond market slips
16 August 2010
Despite a surge of capital into the catastrophe bond market in the second quarter, overall capital in the market declined over the first half of this year…
Munich Re profit climbs despite catastrophes
09 August 2010
Munich Re has reported net profit of €1.19 billion ($1.3 billion) for the first half of this year, up from €1.13 billion ($1.23 billion) in the same period last year…
Swiss Re reports strong Q2 results
09 August 2010
Global reinsurer Swiss Re has reported strong second-quarter net profit of $US812 million ($887.5 million), reversing a loss of $US342 million ($373.8 million) in the same period last year…
Marsh parent returns to first-half profit
09 August 2010
Marsh & McLennan has reported first-half net profit of $US484 million ($530 million) as Asia-Pacific revenue growth helped reverse a previous first-half loss of $US17 million ($18.6 million)…
Restructuring costs hit AIG profit
09 August 2010
AIG has reported a net loss of $US2.66 billion ($2.9 billion) for the second quarter of this year, down from net income of $US1.8 billion ($1.96 billion) in the corresponding period last year…
Allianz income up 40%
09 August 2010
Global financial services provider Allianz Group has reported a 40% increase in first-half income to €2.7 billion ($2.94 billion) from the corresponding period last year…
International insurers make first-half gains
09 August 2010
International insurers Axis Capital Holdings and XL Group have recorded improved half-year results despite experiencing pressure on underwriting margins…
Liberty half-year net profit up 85%
09 August 2010
US-based insurer Liberty Mutual has reported an 85% increase in half-year net profit to $US535 million ($583 million), which the company attributes to the benefits of its global diversity…
BP oil spill insured losses relatively low
09 August 2010
Latest estimates put total insured losses from the Gulf of Mexico oil spill disaster between $US4-6 billion ($4.4-$6.6 billion), a fraction of the estimated $US35 billion…
Aggregators on the rise
09 August 2010
The use of aggregators is rising, with a UK survey revealing 40% of general insurance buyers have used a comparison site in the past 12 months…
Floods dominate July catastrophe report
09 August 2010
July featured some of the worst flood catastrophes in history, according to a report by reinsurance brokers Aon Benfield…
Strong second quarter from Ace
02 August 2010
Global insurer Ace has reported a 27% rise in net profit to $US677 million ($755 million) for the second quarter…
Asia-Pacific revenues lift Aon
02 August 2010
Aon Asia-Pacific region’s retail brokerage income was up 14% in the second quarter ending June 30…
Willis books first-half profit increase
02 August 2010
Global broker Willis Group has booked a 5% increase in first-half net profit of $US293 million ($326 million) as new business growth contributed to rising revenue…
Arthur J Gallagher releases Q2 results
02 August 2010
Global brokerage Arthur J Gallagher has reported a second-quarter profit of $US44 million ($49.2 million), up slightly from $US43.8 million ($49 million) from the corresponding period…
WR Berkley banks 13% rise in net profit
02 August 2010
Global specialty insurer and reinsurer WR Berkley has reported a 13.2% increase in net profit during the second quarter, returning $US110 million ($123 million)…
BP spill leads to ‘modest’ increase in offshore energy premium
02 August 2010
Despite its far-reaching consequences, the Gulf of Mexico disaster is likely to result in only “modest” rate hikes in the upstream energy insurance market…