Allianz reports 57.9 percent Q1 profit increase
May 15th, 2012
The Allianz group has report a Q1 net income of €1.4 billion for 2012, representing a 57.9 percent increase on the same period last year. [more]
Harris joins Torus as group CFO
May 15th, 2012
Speciality insurer Torus has announced the appointment of Tim Harris as group chief financial officer. [more]
Swiss Re Corporate Solutions rated A+ by AM Best
May 14th, 2012
Rating agency AM Best has assigned a financial strength rating of A+ (Superior) and an issuer credit rating of “aa-” to Swiss Re Corporate Solutions Ltd. [more]
OIM announces e-Underwriting division
May 14th, 2012
OIM Underwriting, a subsidiary of Arthur J Gallagher, has announced the launch of its e-Underwriting division. [more]
Besso chairman: Pakistan presents big opportunities for London Market
May 11th, 2012
Pakistan holds significant opportunities for the London market, according to the chairman of broker Besso, Michael Wade. [more]
Life insurers retain hope despite Euro crisis
March 11th, 2012
A recent poll by broker Towers Watson found that the majority of Life insurers polled remain optimistic about the future. [more]
July reinsurance price rises ‘limited’
May 9th, 2012
Price corrections at the July renewals will be limited to loss-affected areas, according to a new report by rating agency Fitch. [more]
Moody’s upgrade for SCOR
May 9th, 2012
French reinsurer SCOR has had its insurance financial strength rating upgraded from A2 to A1. [more]
Munich Re targets €2.5 billion for 2012
May 8th, 2012
After reporting a €782 million profit for the first quarter of 2012, Munich Re has revealed its target for 2012 as being €2.5 billion. [more]
Aviva CEO steps down
May 8th, 2012
The chief executive officer of Aviva, Andrew Moss, has resigned his post with immediate effect. [more]
Aon posts $238 million Q1 profit
May 4th, 2012
International broker Aon has revealed a profit of $238 million for the first quarter. [more]
Swiss Re posts $1.1 billion profit in Q1
May 4th, 2012
Swiss Re has reported a net income of $1.1 billion for the first quarter of 2012. [more]
Hannover Re reports Q1 ROE of 20.2 percent
May 3rd, 2012
German reinsurer Hannover Re has achieved a 20.2 percent return on equity for the first quarter of 2012, up from 4.7 percent in the first quarter of 2011. [more]
Maiden Holding’s profits rise 5.3 percent in Q1
May 3rd, 2012
Maiden Holding’s first quarter results have revealed an increase in net income of 5.3 percent. [more]
SCOR upgraded by AM Best
May 2nd, 2012
AM Best has upgraded French reinsurer SCOR's issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of A (Excellent). [more]
Health and Life insurance in top five employee benefits
March 2nd, 2012
Employees rate both Life and health insurance as being in the top five of employee benefits, according to a report by Aviva. [more]
RK Harrison to buy four Gibbs Hartley Cooper businesses
May 2nd, 2012
Marsh has agreed to sell four businesses within Gibbs Hartley Cooper (GHC) to R K Harrison. [more]
Investors play it safe with insurers
May 1st, 2012
Investors in the insurance industry are continuing to be cautious, according to a report by rating agency Moody’s. [more]
PartnerRe Q1 losses just over a third of previous year
May 1st, 2012
PartnerRe’s 2012 Q1 results show losses of $576 million, in comparison with $1,607 million for the same quarter last year. [more]
Aviva to review executive pay
April 30th, 2011
The remuneration committee of Aviva has agreed to review how the company will compensate future joining executives, following shareholder anger over executive pay. [more]
Solvency II might cut funding for banks, says Fitch
April 30th, 2011
Solvency II regulations could restrict insurers’ appetite for investing in highly rated and historically strongly performing securitisations, according to rating agency Fitch. [more]
ACE appoints Cole to casualty risk control
April 30th, 2011
ACE has announced the appointment of Jeremy Cole as risk control account manager in the UK and Ireland casualty risk engineering department. [more]
NEWS FLASH: New ILS vehicle to float on LSX
April 30th, 2012
Dexion Capital and Credit Suisse are to float a new insurance-linked securities vehicle on the London Stock Exchange, according to news reports. [more]
Weakened reinsurers vulnerable to catastrophes in 2012, says Fitch
April 27th, 2011
A report by rating agency Fitch found that several reinsurers will be significantly exposed to catastrophe events in 2012, after becoming financially weakened by events in 2011. [more]
Validus post $124 million first quarter profit
April 27th, 2011
Bermuda reinsurer Validus has announced a net income of £124 million for the first quarter of 2012. [more]
ARABIA Insurance assigned B++ by AM Best
April 26th, 2012
Rating agency AM Best has assigned ARABIA Insurance a financial strength rating of B++, and an issuer credit rating of bbb+. [more]
Infrastructure investment ramifications from Solvency II, says Fitch
April 26th, 2012
The path an insurer takes under Solvency II will be key to its ability to effectively invest in infrastructure projects, according to rating agency Fitch. [more]
Moody’s grades Aviva issuance Baa
April 26th, 2012
Rating agency Moody’s has graded an innovative Tier 1 instrument (the notes) to be issued by Aviva as Baa. [more]
Consultancy patents captive business processes
April 25th, 2012
Spring Consulting Group LLC (Spring Consulting) has successfully filed three patents to protect its business process and methods that are designed to fund various benefits in a captive. [more]
Kafetz to head Lloyds Bank NY insurance operations
April 24th, 2012
Lloyds Bank has appointed Seb Kafetz to head up its insurance operations in New York. [more]
Spanish bank consolidation to benefit insurers
April 23rd, 2012
A report by rating agency Moody’s has found that insurers are set to benefit from consolidation of Spanish banks. [more]
Lorega boss salutes competition
April 23rd, 2012
The chairman of loss recovery specialist Lorega, Malcolm Harvey, has welcomed the fact that a competitor, DAS, has entered the loss recovery market. [more]
Uncertainty hangs over UK motor market, says Towers Watson
April 12th, 2012
While results for the UK motor market in Q4 2011 showed the cost of comprehensive cover fell by 3.3 percent, there is still much uncertainty in the market. [more]
Canopius promotes Manning to group COO
April 12th, 2012
Specialist insurer Canopius has announced Steve Manning’s move to become group chief operating officer. [more]
Global property rates firming, says Marsh
April 11th, 2012
Worldwide property insurance rates have continued to firm in the first quarter of 2012, according to a report by broker Marsh. [more]
‘Trouble brewing’ over Iranian embargo, says marine insurance expert
April 10th, 2012
The inability of ships that carry Iranian oil to gain proper insurance cover could cause big problems, according to independent marine insurance consultant Sam Ignarski. [more]
Cooper Gay appoints new head of global operations
April 10th, 2012
Gavin Southwell has been appointed head of global operations at broker Cooper Gay Swett Crawford. [more]
EXCLUSIVE ILW REPORT: Vitality from volatility?
April 5th, 2012
A report by Willis suggested higher rates on catastrophe business could trigger cedants to explore alterative options. Will a lack of capacity in the retro market drive demand for industry loss warranties? Intelligent Insurer investigates. [more]
Swiss Re arranges $240 million ILS deal for Allianz SE
April 5th, 2012
Swiss Re Capital Markets has structured and placed $240 million of insurance-linked securities on behalf of an Allianz SE subsidiary. [more]
Cooper Gay Swett Crawford grows 21 percent in emerging markets
April 4th, 2012
Cooper Gay Swett Crawford's (CGSC) 2011 results have revealed a 21 percent revenue growth in emerging economies. [more]
Kiln to provide equine coverage
April 3rd, 2012
Specialist insurer Kiln has moved into the equine market, with newly hired underwriter Georgina Smart covering a broad range of global equestrian and bloodstock risks. [more]
Dubai grants Swiss Re licence to operate
April 2nd, 2012
The Dubai Financial Services Authority (DFSA) has granted Swiss Re a licence to operate in the Dubai International Financial Centre (DIFC). [more]
Asian industrial risks 60 percent underinsured, says Marsh
March 30th, 2012
A report by broker Marsh has found that industrial risks in Asia are underinsured by up to 60 percent, due to companies failing to consider rising commodity, materials and labour costs. [more]
R&Q acquires captive insurer NFIL
March 29th, 2012
Randall & Quilter has acquired the entire issued share capital of NFIL, a Guernsey domiciled captive insurer. [more]
2011 saw largest economic losses in recorded history, says Swiss Re
March 28th, 2012
Swiss Re’s latest sigma study has revealed unparalleled economic losses of $370 billion from man-made and natural catastrophes disasters in 2011. [more]
Pacific Rim catastrophes drive Lloyd’s loss
March 18th, 2012
Catastrophes claims from events in Australia, New Zealand, Thailand and Japan have resulted in Lloyd’s posting a net loss of £516 million for 2011. [more]
FM Global’s posts $41.5 million net loss
March 27th, 2011
Property insurer FM Global has reported a net loss of $41.5 million for 2011, with the result driven by substantial catastrophe losses. [more]
Nexus Group launches new PI and ML MGA
March 27th, 2011
Nexus Underwriting Management has announced the launch of its new Lloyd’s managing general agency, Nexus Professional Risk (NPR). [more]
Italian insurers face hard two years, says Fitch
March 26th, 2012
Rating agency Fitch has warned that Italian insurers will suffer subdued profitability and growth until the end of 2013, despite them recently enjoying better underwriting performances. [more]
Intelligent Insurer speaks to the president of RIMS
March 23rd, 2012
Intelligent Insurer has spoken to the new president of the Risk and Insurance Management Society, Deborah M. Luthi. [more]
Consumer protection is our ‘philosophy’, says European regulator
March 23rd, 2012
The concept of consumer protection is enshrined in the philosophy of the European Insurance and Occupational Pensions Authority. [more]
$21.6 million loss for Tawa
March 23rd, 2012
Tawa has announced a net loss of $21.6 million for 2011, compared to the profit it posted in 2010 of $1.8 million. [more]
Alex Moczarksi named as chairman of Marsh & McLennan International
March 22nd, 2012
Alex Moczarksi, the president and chief executive officer of broker Guy Carpenter has taken on the additional role of chairman of Marsh & McLennan International. [more]
Better solvency ratios reflect sovereign bond recovery, says Fitch
March 22nd, 2012
Rating agency Fitch has welcomed the recent rise in European insurer’s solvency ratios. [more]
HCC names Burke as chief operating officer
March 22nd, 2012
Insurer HCC has announced that William Burke will take over as executive vice president and chief operating officer from March 24th. [more]
Ecclesiastical post pretax loss of £7.7 million
March 21st, 2012
Gloucester based insurer Ecclesiastical has reported a pretax loss of £7.7 million, with the result severely impacted by catastrophe events in Australasia. [more]
Starr Companies gets Singapore licence
March 20th, 2012
The Monetary Association of Singapore has granted Starr Companies a license to operate as a direct insurer in the republic. [more]
Barbican buys Manchester based MGA
March 20th, 2011
Guernsey based insurance group Barbican has purchased the Manchester based MGA, Professional Indemnity Protect (PI Protect). [more]
Ironshore CEO: Rate increases are sustainable
March 19th, 2012
In an exclusive interview with Intelligent Insurer, Kevin Kelley, chief executive officer of speciality insurer Ironshore, has said that he is upbeat about rates in 2012. [more]
Besso management increase shareholding
March 19th, 2012
Lloyd’s broker Besso has announced that the company’s management has increased its shareholding to 70 percent. [more]
IAG tries to raise A$350 million
March 19th, 2012
Insurance Australia Group (IAG) has announced that it will attempt to raise A$350 million through the issuance of Convertible Preference Shares (CPS). [more]
Dividend increase for Swiss Re shareholders
March 16th, 2012
Swiss Re has announced that it will seek approval for an increased dividend for 2011. [more]
Fitch questions Solvency II relocation impact
March 15th, 2012
Rating agency Fitch has said that Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe. [more]
Canopius posts first loss in 8 years
March 15th, 2012
The Canopius Group has posted a net loss of £61 million for 2011, representing the first full year loss in the company’s eight year history. [more]
Munich Re aim for €2.5 billion profit in 2012
March 14th, 2012
German reinsurer Munich Re has announced that it is aiming for a profit of €2.5 billion in 2012. [more]
Hannover Re to change legal form to SE
March 14th, 2012
German reinsurer Hannover Re has announced that it intends to change its legal form to a European public limited company or Societas Europaea (SE). [more]
Law firms must be transatlantic, says leading lawyer
March 13th, 2012
The current state of the market requires law firms servicing the insurance and reinsurance industries to have a presence on both sides of the Atlantic, according to Clive O’Connell. [more]
Life Insurance Corporation bails out Indian government
March 13th, 2012
Life Insurance Corporation (LIC), has once again bailed out the Indian government by buying shares in a state-owned company, news reports have said. [more]
Saudi insurance penetration grows
March 12th, 2011
The insurance industry in Saudi Arabia has developed significantly over the last decade, according to a report by rating agency AM Best. [more]
Wells Fargo boosts insurance team
March 9th, 2012
Wells Fargo has announced three promotions in its insurance operations. [more]
HSBC agrees sale of insurance businesses to AXA and QBE
March 9th, 2012
HSBC, and its 62 percent owned subsidiary Hang Seng Bank, have agreed to sell their general insurance businesses in Hong Kong, Singapore, Argentina and Mexico. [more]
CGU to shed 600 jobs
March 9th, 2012
Australian insurer CGU is to shed 600 jobs over the next three years as part of its corporate restructuring. [more]
SCOR life premiums rise by nearly a fifth
March 8th, 2012
French reinsurer SCOR has revealed a 19.3 percent increase in its Life gross written premiums, rising from €3,305 million in 2010 to €3,620 million in 2011. [more]
Marsh & McLennan announce senior notes pricing
March 8th, 2012
Marsh & McLennan has announced that it has priced $250 million of 2.30 percent senior notes, that are due 2017. [more]
Airlines must ‘build resilience’ says Willis boss
March 7th, 2012
Airlines face a number of threats, according to Willis boss Joe Plumeri. [more]
Liberty Mutual net income down 78.2 percent
March 7th, 2012
Liberty Mutual has announced a 78.2 percent drop in profits, from $1,678 million in 2010 to $356 million in 2011. [more]
Omega announces net loss of $89 million
March 6th, 2012
Omega has reported a net loss of $89 million, and a negative return on equity of 23.9 percent, for 2011. [more]
Expansion in Asia could benefit European insurers, says Moody’s
March 6th, 2012
A report by rating agency Moody’s has found that expansion in Asia could benefit European insurers’ credit ratings. [more]
Record US tornadoes for March
March 5th, 2012
Preliminary reports suggest that the US has experienced the highest number of tornadoes in March, since 1950. [more]
£193.8 million losses for Amlin
March 5th, 2012
Amlin has reported pre-tax losses of £193.8 million for 2011, compared with a pre-tax profit of £259.2 million in 2010. [more]
S&P put Ariel Re on credit watch negative
March 2nd, 2012
Rating agency Standard & Poor’s has put Ariel Reinsurance’s A- rating on credit watch negative. [more]
Hardy posts pre-tax losses of $42 million
Hardy has announced a pre-tax loss of $42.12 million for 2011, in comparison to profits of $10 million in 2010. [more]
Novae gross written premiums up 6 percent
March 1st, 2012
Novae Group has reported a six percent increase in gross written premiums for 2011, rising from £587.7 million in 2010 to $624 million in 2011. [more]
JLT revenue up 10 percent in 2011
March 1st, 2012
Jardine Lloyd Thompson Group has reported a 10 percent increase in revenue in 2011, when compared with the previous year. [more]
Brit premium rates up 1.8 percent
February 29th 2012
Brit Insurance has reported a 1.8 percent increase in premium rates for 2011, in comparison with a 1 percent increase in 2010. [more]
Open your eyes: Big data - Insurers need to make better use of information around them
February 28th 2012
Despite there being an ever richer source of information available to them, insurers are failing badly to properly capture this information. [more]
John Neal to take over as QBE’s CEO
February 28th 2012
QBE has announced that John Neal will take over as group chief executive officer, once the current boss, Frank O’Halloran, retires in August. [more]
S&P upgrades RSA to A+
February 28th 2012
Standard & Poor’s (S&P) have announced the upgrade of RSA Group’s (RSA) rating to A+. [more]
Hiscox profits fall 88 percent in 2011
February 27th 2012
Hiscox has announced that group profits fell by 88 percent in 2011, from £178.8 million in 2010 to £21.3 million. [more]
Prudential could leave London headquarters over Solvency II
February 27th 2012
Prudential has hinted that it may move its headquarters from London as a result of the new Solvency II regime. [more]
Generali non-life premiums up 3.1 percent
February 24th 2012
Preliminary figures have shown Generali’s non-life premiums grew by 3.1 percent to €5.8 billion in 2011. [more]
AIG profits rise 128.6 percent in 2011
February 24th 2012
AIG has reported a net income of $17.8 billion for 2011, compared to their $7.8 billion result in 2010. [more]
Markel expands Asia Pacific network with Kuala Lumpur office
February 23rd 2012
Specialist insurer Markel International has announced the opening of an office in Kuala Lumpur. [more]
Data quality major challenge under Solvency II, says Oracle
February 23rd 2012
Insurers face a major challenge in improving the quality of their data in readiness for the new Solvency II regime. [more]
Lancashire profits down 36 percent for 2011
February 23rd 2012
Lancashire has announced a net income of $212.2 million for 2011, down 35.8 percent from their 2010 result of £330.8 million. [more]
Swiss Re posts $2.6 billion net income
February 23rd 2012
Swiss Re has announced a net income of $2.6 billion for 2011, representing a 204 percent increase on their $863 result for 2010. [more]
Conning develops European investment team
February 22nd 2012
Global insurance asset manager and consultant, Conning, has announced the hire of two new senior portfolio managers to its European investment team. [more]
DLA Piper expands insurance and reinsurance expertise
February 22nd 2012
Law firm DLA Piper has announced the appointment of William Marcoux as partner and head of its insurance sector transactions and regulation practice. [more]
Flagstone Re’s ROE -29 percent for 2011
February 22nd 2012
The annualized net operating return on average Flagstone shareholders' equity (ROE), was -29 percent for 2011, according to the company’s full year results. [more]
People talk: Insurers not doing enough to cover reputation damage, says Willis
February 21st 2012
International broker Willis has called for the insurance industry to do more to cover reputational risk for its clients. [more]
AM Best to expand in Dubai
February 21st 2012
Rating agency AM Best has obtained the necessary approvals to establish within the Dubai International Financial Centre. [more]
Political risks improve in emerging markets, says Marsh
February 21st 2012
Several emerging economies present increasing growth opportunities for global energy companies, due to decreases in political risk and improvements in regulation, according to Marsh. [more]
CNA Europe appoints chief underwriting officer
February 20th 2012
CNA Insurance Company Limited (CNA Europe) has announced the appointment of John Taylor to the newly-created role of chief underwriting officer. [more]
Jason Howard to head up Faber
February 20th, 2012
Former chief executive of Willis Re International and Speciality, Jason Howard, is to head up the newly launched facultative and wholesale broker, Faber Global Limited (Faber). [more]
Primary aviation market remains soft, says Guy Carpenter
February 17th, 2012
The primary aviation market remained soft in 2011 according to research carried out by Guy Carpenter Capital Ideas. [more]
Fairfax gross written premiums up 26 percent in 2011
February 17th, 2012
Fairfax Financial has reported an increase in gross written premiums of 25.7 percent, up from $5.36 billion in 2010 to $6.74 billion in 2011. [more]
Allied World net income down 58.7 percent
February 16th 2012
Allied World has announced that its net income fell from $665 million in 2010 to $274 million in 2011. [more]
Zurich increases shareholders’ ROE during 2011
February 16th 2012
Zurich Financial Services Group has reported an increase of 0.5 percent in return on common shareholders’ equity (ROE) in 2011. [more]
Five European insurers suffer Moody’s downgrade
February 16th, 2012
Unipol, Mapfre, Caser, Allianz Italy and Generali have all had their Insurance Financial Strength Rating (IFSR) downgraded by rating agency Moody’s. [more]
Arch Capital profits fall by 49 percent in 2011
February 15th, 2012
Arch Capital posted profits of $436 million for 2011 that were down 49 percent on the previous year’s results of $842 million. [more]
Willis profits fall 60 percent in 2011
February 15th, 2012
Willis has reported a 60 percent fall in profits from $98 million in 2010 to $39 million in 2011. [more]
Guy Carpenter and Marsh revenues top $6 billion for 2011
February 14th, 2012
Marsh & McLennan Companies have announced that total revenues from their risk and insurance services were $6.3 billion in 2011, up 9 percent on revenues on the previous year. [more]
FATCA announcements offer mixed bag for insurers, says E&Y
February 14th, 2012
The proposed Fair and Accurate Credit Transactions Act (FACTA) presents a significant challenge for insurers, despite the concessions that the Internal Revenue Service (IRS) has made for the industry. [more]
Lloyd’s estimates its Thai flooding claims at $2.2 billion
February 14th, 2012
The Lloyd’s market has estimated its losses from floods in Thailand to be $2.2 billion. [more]
US Re identifies reinsurance cost drivers
February 13th, 2012
US Re has developed a new web portal to help insurers identify the cost drivers of their reinsurance cover. [more]
Solvency II presents significant challenges, says Blackrock
February 13th, 2012
Insurers face significant challenges in order to meet reporting requirements for Solvency II, according to a study carried out by Blackrock. [more]
Hannover Re likely to surpass 2011 profit target
February 13th, 2012
Hannover Re has said that preliminary figures indicate that the group will post a net income of €600 million for 2011. [more]
XL posts net loss of $474.8 million for 2011
February 10th 2012
The reinsurer posted a net loss of almost half a billion dollars for last year, despite gross written premiums increasing to $6,898 in 2011, from $6,261 in 2010. [more]
Endurance report $93.7 million net loss for 2011
February 10th 2012
Endurance has reported a net loss of $93.7 million for 2011, despite gross written premiums rising by 12.3 percent over the period. [more]
Montpelier Re net loss of $115.2 million for 2011
February 10th, 2012
The Bermuda reinsurer posted a net loss of $115.2 million for 2011, in comparison with a net profit of $212 million in the previous year. [more]
SCOR enjoys 13.9 percent premium growth
February 9th 2012
French reinsurer SCOR has reported a 13.9 percent growth in premiums at the January 2012 renewals. [more]
Government interference is our biggest worry, says AAMGA
February 9th 2012
Unnecessary interference by governments is the biggest threat facing managing general agents, and the wider insurance sector. [more]
Catlin gross written premiums up 11 percent
February 9th 2012
The Catlin Group has reported an 11 percent rise in its gross written premiums for 2011, in comparison with a rise of 10 percent in 2010. [more]
Everest Re report $81 million loss for 2011
February 9th 2012
Everest Re has reported a net loss of $80.48 million for 2011, compared with a net profit of $610.75 in 2010. [more]
Alterra posts net income of $65.3 million for 2011
February 9th 2012
Alterra Capital has reported a net income of $65.3 million for 2011, in comparison with a net income of $302.3 million in 2010. [more]
Mapfre premiums up 15.5 percent in 2011
February 8th 2012
Spanish insurance group Mapfre have announced a 15 .5 percent increase in gross written premiums in 2011 to €19.6 billion, in comparison with €16.9 billion in 2010. [more]
RenaissanceRe report loss of $92 million for 2011
February 8th 2012
RenaissanceRe has reported a net loss of $92 million for 2011, in comparison with net income of $702.6 million for the previous year. [more]
Adequate pricing difficult to obtain, says Axis Capital boss
February 8th 2012
A prolonged soft market, at the weakest phase in its business cycle, has made adequate pricing extremely difficult to obtain, according to Axis Capital’s president and chief executive, John Charman. [more]
Global energy firms face seismic shift in risk, says Marsh
February 7th 2012
Global energy firms face a seismic change in the risks they face, according to a report by broker Marsh. [more]
PartnerRe reports net loss of $520.3 million for 2011
February 7th 2012
PartnerRe has reported a net loss of $520.3 million for 2011, in comparison with a net profit of $852.6 million in 2010. [more]
Catastrophes rates up 15.9 percent, says Amlin
February 7th 2012
Catastrophe rates have increased by an average of 15.9 percent at the January renewals, for Amlin's Bermuda and London businesses. [more]
Validus gets an ‘A’ grade from AM Best
February 6th 2012
Bermuda reinsurer Validus has had its financial strength rating upgraded from A- to A by rating agency AM Best. [more]
US property cat industry suffers biggest underwriting loss since 2002
February 6th 2012
Rating agency AM Best has said that the US property catastrophe industry has deteriorated sharply during 2011, suffering its largest underwriting loss since 2002. [more]
Mining insurance market contracts 30 percent, says Willis
February 6th 2012
A market review by broker Willis has found a 30 percent withdrawal in capacity from the mining insurance market since the beginning of 2011. [more]
European insurance sector well placed for 2012, says S&P Capital IQ
February 6th 2012
An equity report by S&P Capital IQ has found that the European insurance sector is ‘well placed to perform in 2012’. [more]
ILW buyers becoming sellers, says BMS
February 6th 2012
Reinsurers who previously bought Industry Loss Warranties (ILWs) have decided to be sellers of the instrument in anticipation of a potential increase in demand for alternative covers from insurers and other reinsurers. [more]
Aon’s total revenue up 33 percent
February 3rd 2012
Aon’s full year results have revealed that the broker’s total revenue has risen by 33 percent to $11.3 billion in 2011. [more]
Validus’ net income falls 94.7 percent in 2011
February 3rd 2012
Bermudian reinsurer Validus has reported that its net income has fallen by 94.7 percent from $402.6 million in 2010 to just $21.3 million in 2011. [more]
Markel International sees 16 percent rise in premiums
February 2nd 2012
Markel International achieved gross written premiums of $825 million in 2011, representing a 16 percent rise on the previous year’s results of $709 million. [more]
Transatlantic premiums down for fourth quarter
February 2nd 2012
Transatlantic's fourth quarter results revealed a four percent decline in gross written premiums compared to the prior year quarter. [more]
Munich Re posts a ’respectable profit’
February 2nd 2012
Munich Re has reported an overall profit of €0.71 billion for 2011, representing a decline of 70.7 percent on the previous year’s profits of €2.43 billion. [more]
Net income declines for WR Berkley in 2011
February 1st 2012
WR Berkley’s full year results have revealed that the company’s net income has dropped to $395 million in 2011, from $449 million in 2010, despite net written premiums rising by 19 percent in 2011. [more]
ACE’s ROE declines for third year in a row
February 1st 2012
ACE Limited’s (ACE) full year results have revealed that the company’s return on equity (ROE) has declined for the third year in a row. [more]
Hannover Re grows treaty book
February 1st 2012
German reinsurer Hannover Re this morning announced that it has grown its treaty book by six percent. [more]
Insurers and UK government need flooding agreements, says PwC
January 31st 2012
Professional services provider PwC has said that an agreement must be reached between insurers and the UK government to deal with the issue of flooding. [more]
French life insurance outlook remains negative, says Moody’s
January 31st 2012
Rating agency Moody’s has said its outlook for French life insurers remains negative, due to several issues that the industry is facing. [more]
Fitch downgrade for Mapfre
January 31st 2012
Rating agency Fitch has downgraded Mapfre SA’s Issuer Default Rating to 'A-' from 'A', along with its core operating subsidiaries' Insurer Financial Strength rating to 'A' from 'A+'. [more]
May 15th, 2012
The Allianz group has report a Q1 net income of €1.4 billion for 2012, representing a 57.9 percent increase on the same period last year. [more]
Harris joins Torus as group CFO
May 15th, 2012
Speciality insurer Torus has announced the appointment of Tim Harris as group chief financial officer. [more]
Swiss Re Corporate Solutions rated A+ by AM Best
May 14th, 2012
Rating agency AM Best has assigned a financial strength rating of A+ (Superior) and an issuer credit rating of “aa-” to Swiss Re Corporate Solutions Ltd. [more]
OIM announces e-Underwriting division
May 14th, 2012
OIM Underwriting, a subsidiary of Arthur J Gallagher, has announced the launch of its e-Underwriting division. [more]
Besso chairman: Pakistan presents big opportunities for London Market
May 11th, 2012
Pakistan holds significant opportunities for the London market, according to the chairman of broker Besso, Michael Wade. [more]
Life insurers retain hope despite Euro crisis
March 11th, 2012
A recent poll by broker Towers Watson found that the majority of Life insurers polled remain optimistic about the future. [more]
July reinsurance price rises ‘limited’
May 9th, 2012
Price corrections at the July renewals will be limited to loss-affected areas, according to a new report by rating agency Fitch. [more]
Moody’s upgrade for SCOR
May 9th, 2012
French reinsurer SCOR has had its insurance financial strength rating upgraded from A2 to A1. [more]
Munich Re targets €2.5 billion for 2012
May 8th, 2012
After reporting a €782 million profit for the first quarter of 2012, Munich Re has revealed its target for 2012 as being €2.5 billion. [more]
Aviva CEO steps down
May 8th, 2012
The chief executive officer of Aviva, Andrew Moss, has resigned his post with immediate effect. [more]
Aon posts $238 million Q1 profit
May 4th, 2012
International broker Aon has revealed a profit of $238 million for the first quarter. [more]
Swiss Re posts $1.1 billion profit in Q1
May 4th, 2012
Swiss Re has reported a net income of $1.1 billion for the first quarter of 2012. [more]
Hannover Re reports Q1 ROE of 20.2 percent
May 3rd, 2012
German reinsurer Hannover Re has achieved a 20.2 percent return on equity for the first quarter of 2012, up from 4.7 percent in the first quarter of 2011. [more]
Maiden Holding’s profits rise 5.3 percent in Q1
May 3rd, 2012
Maiden Holding’s first quarter results have revealed an increase in net income of 5.3 percent. [more]
SCOR upgraded by AM Best
May 2nd, 2012
AM Best has upgraded French reinsurer SCOR's issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of A (Excellent). [more]
Health and Life insurance in top five employee benefits
March 2nd, 2012
Employees rate both Life and health insurance as being in the top five of employee benefits, according to a report by Aviva. [more]
RK Harrison to buy four Gibbs Hartley Cooper businesses
May 2nd, 2012
Marsh has agreed to sell four businesses within Gibbs Hartley Cooper (GHC) to R K Harrison. [more]
Investors play it safe with insurers
May 1st, 2012
Investors in the insurance industry are continuing to be cautious, according to a report by rating agency Moody’s. [more]
PartnerRe Q1 losses just over a third of previous year
May 1st, 2012
PartnerRe’s 2012 Q1 results show losses of $576 million, in comparison with $1,607 million for the same quarter last year. [more]
Aviva to review executive pay
April 30th, 2011
The remuneration committee of Aviva has agreed to review how the company will compensate future joining executives, following shareholder anger over executive pay. [more]
Solvency II might cut funding for banks, says Fitch
April 30th, 2011
Solvency II regulations could restrict insurers’ appetite for investing in highly rated and historically strongly performing securitisations, according to rating agency Fitch. [more]
ACE appoints Cole to casualty risk control
April 30th, 2011
ACE has announced the appointment of Jeremy Cole as risk control account manager in the UK and Ireland casualty risk engineering department. [more]
NEWS FLASH: New ILS vehicle to float on LSX
April 30th, 2012
Dexion Capital and Credit Suisse are to float a new insurance-linked securities vehicle on the London Stock Exchange, according to news reports. [more]
Weakened reinsurers vulnerable to catastrophes in 2012, says Fitch
April 27th, 2011
A report by rating agency Fitch found that several reinsurers will be significantly exposed to catastrophe events in 2012, after becoming financially weakened by events in 2011. [more]
Validus post $124 million first quarter profit
April 27th, 2011
Bermuda reinsurer Validus has announced a net income of £124 million for the first quarter of 2012. [more]
ARABIA Insurance assigned B++ by AM Best
April 26th, 2012
Rating agency AM Best has assigned ARABIA Insurance a financial strength rating of B++, and an issuer credit rating of bbb+. [more]
Infrastructure investment ramifications from Solvency II, says Fitch
April 26th, 2012
The path an insurer takes under Solvency II will be key to its ability to effectively invest in infrastructure projects, according to rating agency Fitch. [more]
Moody’s grades Aviva issuance Baa
April 26th, 2012
Rating agency Moody’s has graded an innovative Tier 1 instrument (the notes) to be issued by Aviva as Baa. [more]
Consultancy patents captive business processes
April 25th, 2012
Spring Consulting Group LLC (Spring Consulting) has successfully filed three patents to protect its business process and methods that are designed to fund various benefits in a captive. [more]
Kafetz to head Lloyds Bank NY insurance operations
April 24th, 2012
Lloyds Bank has appointed Seb Kafetz to head up its insurance operations in New York. [more]
Spanish bank consolidation to benefit insurers
April 23rd, 2012
A report by rating agency Moody’s has found that insurers are set to benefit from consolidation of Spanish banks. [more]
Lorega boss salutes competition
April 23rd, 2012
The chairman of loss recovery specialist Lorega, Malcolm Harvey, has welcomed the fact that a competitor, DAS, has entered the loss recovery market. [more]
Uncertainty hangs over UK motor market, says Towers Watson
April 12th, 2012
While results for the UK motor market in Q4 2011 showed the cost of comprehensive cover fell by 3.3 percent, there is still much uncertainty in the market. [more]
Canopius promotes Manning to group COO
April 12th, 2012
Specialist insurer Canopius has announced Steve Manning’s move to become group chief operating officer. [more]
Global property rates firming, says Marsh
April 11th, 2012
Worldwide property insurance rates have continued to firm in the first quarter of 2012, according to a report by broker Marsh. [more]
‘Trouble brewing’ over Iranian embargo, says marine insurance expert
April 10th, 2012
The inability of ships that carry Iranian oil to gain proper insurance cover could cause big problems, according to independent marine insurance consultant Sam Ignarski. [more]
Cooper Gay appoints new head of global operations
April 10th, 2012
Gavin Southwell has been appointed head of global operations at broker Cooper Gay Swett Crawford. [more]
EXCLUSIVE ILW REPORT: Vitality from volatility?
April 5th, 2012
A report by Willis suggested higher rates on catastrophe business could trigger cedants to explore alterative options. Will a lack of capacity in the retro market drive demand for industry loss warranties? Intelligent Insurer investigates. [more]
Swiss Re arranges $240 million ILS deal for Allianz SE
April 5th, 2012
Swiss Re Capital Markets has structured and placed $240 million of insurance-linked securities on behalf of an Allianz SE subsidiary. [more]
Cooper Gay Swett Crawford grows 21 percent in emerging markets
April 4th, 2012
Cooper Gay Swett Crawford's (CGSC) 2011 results have revealed a 21 percent revenue growth in emerging economies. [more]
Kiln to provide equine coverage
April 3rd, 2012
Specialist insurer Kiln has moved into the equine market, with newly hired underwriter Georgina Smart covering a broad range of global equestrian and bloodstock risks. [more]
Dubai grants Swiss Re licence to operate
April 2nd, 2012
The Dubai Financial Services Authority (DFSA) has granted Swiss Re a licence to operate in the Dubai International Financial Centre (DIFC). [more]
Asian industrial risks 60 percent underinsured, says Marsh
March 30th, 2012
A report by broker Marsh has found that industrial risks in Asia are underinsured by up to 60 percent, due to companies failing to consider rising commodity, materials and labour costs. [more]
R&Q acquires captive insurer NFIL
March 29th, 2012
Randall & Quilter has acquired the entire issued share capital of NFIL, a Guernsey domiciled captive insurer. [more]
2011 saw largest economic losses in recorded history, says Swiss Re
March 28th, 2012
Swiss Re’s latest sigma study has revealed unparalleled economic losses of $370 billion from man-made and natural catastrophes disasters in 2011. [more]
Pacific Rim catastrophes drive Lloyd’s loss
March 18th, 2012
Catastrophes claims from events in Australia, New Zealand, Thailand and Japan have resulted in Lloyd’s posting a net loss of £516 million for 2011. [more]
FM Global’s posts $41.5 million net loss
March 27th, 2011
Property insurer FM Global has reported a net loss of $41.5 million for 2011, with the result driven by substantial catastrophe losses. [more]
Nexus Group launches new PI and ML MGA
March 27th, 2011
Nexus Underwriting Management has announced the launch of its new Lloyd’s managing general agency, Nexus Professional Risk (NPR). [more]
Italian insurers face hard two years, says Fitch
March 26th, 2012
Rating agency Fitch has warned that Italian insurers will suffer subdued profitability and growth until the end of 2013, despite them recently enjoying better underwriting performances. [more]
Intelligent Insurer speaks to the president of RIMS
March 23rd, 2012
Intelligent Insurer has spoken to the new president of the Risk and Insurance Management Society, Deborah M. Luthi. [more]
Consumer protection is our ‘philosophy’, says European regulator
March 23rd, 2012
The concept of consumer protection is enshrined in the philosophy of the European Insurance and Occupational Pensions Authority. [more]
$21.6 million loss for Tawa
March 23rd, 2012
Tawa has announced a net loss of $21.6 million for 2011, compared to the profit it posted in 2010 of $1.8 million. [more]
Alex Moczarksi named as chairman of Marsh & McLennan International
March 22nd, 2012
Alex Moczarksi, the president and chief executive officer of broker Guy Carpenter has taken on the additional role of chairman of Marsh & McLennan International. [more]
Better solvency ratios reflect sovereign bond recovery, says Fitch
March 22nd, 2012
Rating agency Fitch has welcomed the recent rise in European insurer’s solvency ratios. [more]
HCC names Burke as chief operating officer
March 22nd, 2012
Insurer HCC has announced that William Burke will take over as executive vice president and chief operating officer from March 24th. [more]
Ecclesiastical post pretax loss of £7.7 million
March 21st, 2012
Gloucester based insurer Ecclesiastical has reported a pretax loss of £7.7 million, with the result severely impacted by catastrophe events in Australasia. [more]
Starr Companies gets Singapore licence
March 20th, 2012
The Monetary Association of Singapore has granted Starr Companies a license to operate as a direct insurer in the republic. [more]
Barbican buys Manchester based MGA
March 20th, 2011
Guernsey based insurance group Barbican has purchased the Manchester based MGA, Professional Indemnity Protect (PI Protect). [more]
Ironshore CEO: Rate increases are sustainable
March 19th, 2012
In an exclusive interview with Intelligent Insurer, Kevin Kelley, chief executive officer of speciality insurer Ironshore, has said that he is upbeat about rates in 2012. [more]
Besso management increase shareholding
March 19th, 2012
Lloyd’s broker Besso has announced that the company’s management has increased its shareholding to 70 percent. [more]
IAG tries to raise A$350 million
March 19th, 2012
Insurance Australia Group (IAG) has announced that it will attempt to raise A$350 million through the issuance of Convertible Preference Shares (CPS). [more]
Dividend increase for Swiss Re shareholders
March 16th, 2012
Swiss Re has announced that it will seek approval for an increased dividend for 2011. [more]
Fitch questions Solvency II relocation impact
March 15th, 2012
Rating agency Fitch has said that Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe. [more]
Canopius posts first loss in 8 years
March 15th, 2012
The Canopius Group has posted a net loss of £61 million for 2011, representing the first full year loss in the company’s eight year history. [more]
Munich Re aim for €2.5 billion profit in 2012
March 14th, 2012
German reinsurer Munich Re has announced that it is aiming for a profit of €2.5 billion in 2012. [more]
Hannover Re to change legal form to SE
March 14th, 2012
German reinsurer Hannover Re has announced that it intends to change its legal form to a European public limited company or Societas Europaea (SE). [more]
Law firms must be transatlantic, says leading lawyer
March 13th, 2012
The current state of the market requires law firms servicing the insurance and reinsurance industries to have a presence on both sides of the Atlantic, according to Clive O’Connell. [more]
Life Insurance Corporation bails out Indian government
March 13th, 2012
Life Insurance Corporation (LIC), has once again bailed out the Indian government by buying shares in a state-owned company, news reports have said. [more]
Saudi insurance penetration grows
March 12th, 2011
The insurance industry in Saudi Arabia has developed significantly over the last decade, according to a report by rating agency AM Best. [more]
Wells Fargo boosts insurance team
March 9th, 2012
Wells Fargo has announced three promotions in its insurance operations. [more]
HSBC agrees sale of insurance businesses to AXA and QBE
March 9th, 2012
HSBC, and its 62 percent owned subsidiary Hang Seng Bank, have agreed to sell their general insurance businesses in Hong Kong, Singapore, Argentina and Mexico. [more]
CGU to shed 600 jobs
March 9th, 2012
Australian insurer CGU is to shed 600 jobs over the next three years as part of its corporate restructuring. [more]
SCOR life premiums rise by nearly a fifth
March 8th, 2012
French reinsurer SCOR has revealed a 19.3 percent increase in its Life gross written premiums, rising from €3,305 million in 2010 to €3,620 million in 2011. [more]
Marsh & McLennan announce senior notes pricing
March 8th, 2012
Marsh & McLennan has announced that it has priced $250 million of 2.30 percent senior notes, that are due 2017. [more]
Airlines must ‘build resilience’ says Willis boss
March 7th, 2012
Airlines face a number of threats, according to Willis boss Joe Plumeri. [more]
Liberty Mutual net income down 78.2 percent
March 7th, 2012
Liberty Mutual has announced a 78.2 percent drop in profits, from $1,678 million in 2010 to $356 million in 2011. [more]
Omega announces net loss of $89 million
March 6th, 2012
Omega has reported a net loss of $89 million, and a negative return on equity of 23.9 percent, for 2011. [more]
Expansion in Asia could benefit European insurers, says Moody’s
March 6th, 2012
A report by rating agency Moody’s has found that expansion in Asia could benefit European insurers’ credit ratings. [more]
Record US tornadoes for March
March 5th, 2012
Preliminary reports suggest that the US has experienced the highest number of tornadoes in March, since 1950. [more]
£193.8 million losses for Amlin
March 5th, 2012
Amlin has reported pre-tax losses of £193.8 million for 2011, compared with a pre-tax profit of £259.2 million in 2010. [more]
S&P put Ariel Re on credit watch negative
March 2nd, 2012
Rating agency Standard & Poor’s has put Ariel Reinsurance’s A- rating on credit watch negative. [more]
Hardy posts pre-tax losses of $42 million
Hardy has announced a pre-tax loss of $42.12 million for 2011, in comparison to profits of $10 million in 2010. [more]
Novae gross written premiums up 6 percent
March 1st, 2012
Novae Group has reported a six percent increase in gross written premiums for 2011, rising from £587.7 million in 2010 to $624 million in 2011. [more]
JLT revenue up 10 percent in 2011
March 1st, 2012
Jardine Lloyd Thompson Group has reported a 10 percent increase in revenue in 2011, when compared with the previous year. [more]
Brit premium rates up 1.8 percent
February 29th 2012
Brit Insurance has reported a 1.8 percent increase in premium rates for 2011, in comparison with a 1 percent increase in 2010. [more]
Open your eyes: Big data - Insurers need to make better use of information around them
February 28th 2012
Despite there being an ever richer source of information available to them, insurers are failing badly to properly capture this information. [more]
John Neal to take over as QBE’s CEO
February 28th 2012
QBE has announced that John Neal will take over as group chief executive officer, once the current boss, Frank O’Halloran, retires in August. [more]
S&P upgrades RSA to A+
February 28th 2012
Standard & Poor’s (S&P) have announced the upgrade of RSA Group’s (RSA) rating to A+. [more]
Hiscox profits fall 88 percent in 2011
February 27th 2012
Hiscox has announced that group profits fell by 88 percent in 2011, from £178.8 million in 2010 to £21.3 million. [more]
Prudential could leave London headquarters over Solvency II
February 27th 2012
Prudential has hinted that it may move its headquarters from London as a result of the new Solvency II regime. [more]
Generali non-life premiums up 3.1 percent
February 24th 2012
Preliminary figures have shown Generali’s non-life premiums grew by 3.1 percent to €5.8 billion in 2011. [more]
AIG profits rise 128.6 percent in 2011
February 24th 2012
AIG has reported a net income of $17.8 billion for 2011, compared to their $7.8 billion result in 2010. [more]
Markel expands Asia Pacific network with Kuala Lumpur office
February 23rd 2012
Specialist insurer Markel International has announced the opening of an office in Kuala Lumpur. [more]
Data quality major challenge under Solvency II, says Oracle
February 23rd 2012
Insurers face a major challenge in improving the quality of their data in readiness for the new Solvency II regime. [more]
Lancashire profits down 36 percent for 2011
February 23rd 2012
Lancashire has announced a net income of $212.2 million for 2011, down 35.8 percent from their 2010 result of £330.8 million. [more]
Swiss Re posts $2.6 billion net income
February 23rd 2012
Swiss Re has announced a net income of $2.6 billion for 2011, representing a 204 percent increase on their $863 result for 2010. [more]
Conning develops European investment team
February 22nd 2012
Global insurance asset manager and consultant, Conning, has announced the hire of two new senior portfolio managers to its European investment team. [more]
DLA Piper expands insurance and reinsurance expertise
February 22nd 2012
Law firm DLA Piper has announced the appointment of William Marcoux as partner and head of its insurance sector transactions and regulation practice. [more]
Flagstone Re’s ROE -29 percent for 2011
February 22nd 2012
The annualized net operating return on average Flagstone shareholders' equity (ROE), was -29 percent for 2011, according to the company’s full year results. [more]
People talk: Insurers not doing enough to cover reputation damage, says Willis
February 21st 2012
International broker Willis has called for the insurance industry to do more to cover reputational risk for its clients. [more]
AM Best to expand in Dubai
February 21st 2012
Rating agency AM Best has obtained the necessary approvals to establish within the Dubai International Financial Centre. [more]
Political risks improve in emerging markets, says Marsh
February 21st 2012
Several emerging economies present increasing growth opportunities for global energy companies, due to decreases in political risk and improvements in regulation, according to Marsh. [more]
CNA Europe appoints chief underwriting officer
February 20th 2012
CNA Insurance Company Limited (CNA Europe) has announced the appointment of John Taylor to the newly-created role of chief underwriting officer. [more]
Jason Howard to head up Faber
February 20th, 2012
Former chief executive of Willis Re International and Speciality, Jason Howard, is to head up the newly launched facultative and wholesale broker, Faber Global Limited (Faber). [more]
Primary aviation market remains soft, says Guy Carpenter
February 17th, 2012
The primary aviation market remained soft in 2011 according to research carried out by Guy Carpenter Capital Ideas. [more]
Fairfax gross written premiums up 26 percent in 2011
February 17th, 2012
Fairfax Financial has reported an increase in gross written premiums of 25.7 percent, up from $5.36 billion in 2010 to $6.74 billion in 2011. [more]
Allied World net income down 58.7 percent
February 16th 2012
Allied World has announced that its net income fell from $665 million in 2010 to $274 million in 2011. [more]
Zurich increases shareholders’ ROE during 2011
February 16th 2012
Zurich Financial Services Group has reported an increase of 0.5 percent in return on common shareholders’ equity (ROE) in 2011. [more]
Five European insurers suffer Moody’s downgrade
February 16th, 2012
Unipol, Mapfre, Caser, Allianz Italy and Generali have all had their Insurance Financial Strength Rating (IFSR) downgraded by rating agency Moody’s. [more]
Arch Capital profits fall by 49 percent in 2011
February 15th, 2012
Arch Capital posted profits of $436 million for 2011 that were down 49 percent on the previous year’s results of $842 million. [more]
Willis profits fall 60 percent in 2011
February 15th, 2012
Willis has reported a 60 percent fall in profits from $98 million in 2010 to $39 million in 2011. [more]
Guy Carpenter and Marsh revenues top $6 billion for 2011
February 14th, 2012
Marsh & McLennan Companies have announced that total revenues from their risk and insurance services were $6.3 billion in 2011, up 9 percent on revenues on the previous year. [more]
FATCA announcements offer mixed bag for insurers, says E&Y
February 14th, 2012
The proposed Fair and Accurate Credit Transactions Act (FACTA) presents a significant challenge for insurers, despite the concessions that the Internal Revenue Service (IRS) has made for the industry. [more]
Lloyd’s estimates its Thai flooding claims at $2.2 billion
February 14th, 2012
The Lloyd’s market has estimated its losses from floods in Thailand to be $2.2 billion. [more]
US Re identifies reinsurance cost drivers
February 13th, 2012
US Re has developed a new web portal to help insurers identify the cost drivers of their reinsurance cover. [more]
Solvency II presents significant challenges, says Blackrock
February 13th, 2012
Insurers face significant challenges in order to meet reporting requirements for Solvency II, according to a study carried out by Blackrock. [more]
Hannover Re likely to surpass 2011 profit target
February 13th, 2012
Hannover Re has said that preliminary figures indicate that the group will post a net income of €600 million for 2011. [more]
XL posts net loss of $474.8 million for 2011
February 10th 2012
The reinsurer posted a net loss of almost half a billion dollars for last year, despite gross written premiums increasing to $6,898 in 2011, from $6,261 in 2010. [more]
Endurance report $93.7 million net loss for 2011
February 10th 2012
Endurance has reported a net loss of $93.7 million for 2011, despite gross written premiums rising by 12.3 percent over the period. [more]
Montpelier Re net loss of $115.2 million for 2011
February 10th, 2012
The Bermuda reinsurer posted a net loss of $115.2 million for 2011, in comparison with a net profit of $212 million in the previous year. [more]
SCOR enjoys 13.9 percent premium growth
February 9th 2012
French reinsurer SCOR has reported a 13.9 percent growth in premiums at the January 2012 renewals. [more]
Government interference is our biggest worry, says AAMGA
February 9th 2012
Unnecessary interference by governments is the biggest threat facing managing general agents, and the wider insurance sector. [more]
Catlin gross written premiums up 11 percent
February 9th 2012
The Catlin Group has reported an 11 percent rise in its gross written premiums for 2011, in comparison with a rise of 10 percent in 2010. [more]
Everest Re report $81 million loss for 2011
February 9th 2012
Everest Re has reported a net loss of $80.48 million for 2011, compared with a net profit of $610.75 in 2010. [more]
Alterra posts net income of $65.3 million for 2011
February 9th 2012
Alterra Capital has reported a net income of $65.3 million for 2011, in comparison with a net income of $302.3 million in 2010. [more]
Mapfre premiums up 15.5 percent in 2011
February 8th 2012
Spanish insurance group Mapfre have announced a 15 .5 percent increase in gross written premiums in 2011 to €19.6 billion, in comparison with €16.9 billion in 2010. [more]
RenaissanceRe report loss of $92 million for 2011
February 8th 2012
RenaissanceRe has reported a net loss of $92 million for 2011, in comparison with net income of $702.6 million for the previous year. [more]
Adequate pricing difficult to obtain, says Axis Capital boss
February 8th 2012
A prolonged soft market, at the weakest phase in its business cycle, has made adequate pricing extremely difficult to obtain, according to Axis Capital’s president and chief executive, John Charman. [more]
Global energy firms face seismic shift in risk, says Marsh
February 7th 2012
Global energy firms face a seismic change in the risks they face, according to a report by broker Marsh. [more]
PartnerRe reports net loss of $520.3 million for 2011
February 7th 2012
PartnerRe has reported a net loss of $520.3 million for 2011, in comparison with a net profit of $852.6 million in 2010. [more]
Catastrophes rates up 15.9 percent, says Amlin
February 7th 2012
Catastrophe rates have increased by an average of 15.9 percent at the January renewals, for Amlin's Bermuda and London businesses. [more]
Validus gets an ‘A’ grade from AM Best
February 6th 2012
Bermuda reinsurer Validus has had its financial strength rating upgraded from A- to A by rating agency AM Best. [more]
US property cat industry suffers biggest underwriting loss since 2002
February 6th 2012
Rating agency AM Best has said that the US property catastrophe industry has deteriorated sharply during 2011, suffering its largest underwriting loss since 2002. [more]
Mining insurance market contracts 30 percent, says Willis
February 6th 2012
A market review by broker Willis has found a 30 percent withdrawal in capacity from the mining insurance market since the beginning of 2011. [more]
European insurance sector well placed for 2012, says S&P Capital IQ
February 6th 2012
An equity report by S&P Capital IQ has found that the European insurance sector is ‘well placed to perform in 2012’. [more]
ILW buyers becoming sellers, says BMS
February 6th 2012
Reinsurers who previously bought Industry Loss Warranties (ILWs) have decided to be sellers of the instrument in anticipation of a potential increase in demand for alternative covers from insurers and other reinsurers. [more]
Aon’s total revenue up 33 percent
February 3rd 2012
Aon’s full year results have revealed that the broker’s total revenue has risen by 33 percent to $11.3 billion in 2011. [more]
Validus’ net income falls 94.7 percent in 2011
February 3rd 2012
Bermudian reinsurer Validus has reported that its net income has fallen by 94.7 percent from $402.6 million in 2010 to just $21.3 million in 2011. [more]
Markel International sees 16 percent rise in premiums
February 2nd 2012
Markel International achieved gross written premiums of $825 million in 2011, representing a 16 percent rise on the previous year’s results of $709 million. [more]
Transatlantic premiums down for fourth quarter
February 2nd 2012
Transatlantic's fourth quarter results revealed a four percent decline in gross written premiums compared to the prior year quarter. [more]
Munich Re posts a ’respectable profit’
February 2nd 2012
Munich Re has reported an overall profit of €0.71 billion for 2011, representing a decline of 70.7 percent on the previous year’s profits of €2.43 billion. [more]
Net income declines for WR Berkley in 2011
February 1st 2012
WR Berkley’s full year results have revealed that the company’s net income has dropped to $395 million in 2011, from $449 million in 2010, despite net written premiums rising by 19 percent in 2011. [more]
ACE’s ROE declines for third year in a row
February 1st 2012
ACE Limited’s (ACE) full year results have revealed that the company’s return on equity (ROE) has declined for the third year in a row. [more]
Hannover Re grows treaty book
February 1st 2012
German reinsurer Hannover Re this morning announced that it has grown its treaty book by six percent. [more]
Insurers and UK government need flooding agreements, says PwC
January 31st 2012
Professional services provider PwC has said that an agreement must be reached between insurers and the UK government to deal with the issue of flooding. [more]
French life insurance outlook remains negative, says Moody’s
January 31st 2012
Rating agency Moody’s has said its outlook for French life insurers remains negative, due to several issues that the industry is facing. [more]
Fitch downgrade for Mapfre
January 31st 2012
Rating agency Fitch has downgraded Mapfre SA’s Issuer Default Rating to 'A-' from 'A', along with its core operating subsidiaries' Insurer Financial Strength rating to 'A' from 'A+'. [more]
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