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Industry and country risk for the global marine protection and indemnity (P&I) insurance sector has been labelled as intermediate by Standard & Poor’s (S&P) in its insurance industry and country risk assessment (IICRA). 11 February 2016
Insurance
Markel Corporation posted a solid set of underwriting results in 2015 despite what its executive chairman described as challenging market conditions. But its gross written premiums shrank slightly and its comprehensive income to shareholders was hit hard by a big decrease in net unrealized gains on investments. 11 February 2016
Insurance
Antares Asia, a member of the QIC Group, has expanded its underwriting team. 10 February 2016
Insurance
A severe winter storm that hit the Eastern US during the second half of January has resulted in economic losses of $2 billion, and insured losses well into the hundreds of millions, according to Impact Forecasting, Aon Benfield’s catastrophe model development unit. 10 February 2016
Insurance
Tokio Marine Kiln (TMK), the provider of specialist and corporate insurance, has expanded its UK regional offices with the appointment of Owen Shelley and Mark Bradshaw as underwriters. 9 February 2016
Insurance
Chubb Global Markets (CGM), the London-based wholesale insurance division of Chubb, has announced leadership appointments in its marine team. 8 February 2016
Insurance
Broker Aon has reported a slight dip in its profits for 2015. It posted a net income of $1.42 billion, compared with $1.43 billion in 2014 – a decrease of one percent. 8 February 2016
Insurance
The explosions that took place in the Port of Tianjin, China, in 2015 caused the biggest man-made losses ever in Asia, according to the International Union of Marine Insurance (IUMI). 5 February 2016
Insurance
Marsh & McLennan Companies (MMC) reported a slight drop in revenues in 2015, despite solid results from its fourth quarter. 5 February 2016
News
Hannover Re says it is largely satisfied with the outcome of its treaty renewals as of January 1, despite sustained significant competition in most areas of property and casualty reinsurance. 3 February 2016
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