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Insurance
Chinese conglomerate Fosun said that its Bermuda-based specialty property/casualty insurer Ironshore made a net profit of $115.7 million in 2016 while producing an underwriting loss with a combined ratio of 102.1 percent. Premium income was 2.20 billion during the period. 29 March 2017
Insurance
Hong Kong-based Peak Reinsurance Company's net profit was $6.9 million in the 2016 financial year, which compares to $59.2 million in the previous year. 29 March 2017
Insurance
Cyclone Debbie roared ashore in Queensland as the most powerful storm to strike Australia since Cyclone Yasi destroyed Queensland resorts, homes, and crops in 2011, according to catastrophe risk modelling provider AIR Worldwide. 29 March 2017
Insurance
The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by Category 4 severe tropical Cyclone Debbie, which made landfall today (March 28) in Queensland, Australia. 28 March 2017
Insurance
Global 2016 losses from disasters, both economic and insured, were the highest since 2012 and reversed the downtrend of the last four years, according to a new Swiss Re Sigma report. 28 March 2017
Insurance
Suncorp, one of Australia’s largest insurers, said that it is well protected against the financial impact of Cyclone Debbie through reinsurance protection. 27 March 2017
Insurance
Broker Willis Towers Watson has completed the acquisition of Russell Investments’ Australian actuarial practice. The transaction was first announced on February 16. 27 March 2017
Insurance
Assessing risk of over 500 active volcanoes, Swiss Re’s global volcano model calculated that large cities face total economic losses of as much as $30 billion. 24 March 2017
Alternative Risk Transfer
PCS designated more catastrophe events in 2016 than in any year since 1980, as Tom Johansmeyer of ISO Claims Analytics, a division of Verisk Insurance Solutions, reports. 23 March 2017
Insurance
Re/insurer QBE Australia and New Zealand has appointed Jon Fox as the executive general manager (EGM) of claims, and Andrew Corbett as general manager of its fully owned subsidiary Elders Insurance. 21 March 2017
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