Articles by Stephanie Denton
Chinese financial institutions need to improve risk management
Competition in the industry and a more complex financial environment now outweigh regulatory factors as key considerations for risk management at large financial institutions in China, according to a survey.
Italy's drought crop damage close to $1bn
Italian farmers have suffered nearly €1bn ($1.23bn) in crop damage from drought, according to farm industry organisation Confagricoltura.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Drop in profit for Bahrain Kuwait Insurance Co after increased motor claims
Bahrain Kuwait Insurance Company has posted net profit of BD1.5m ($3.9m) for the quarter ended 30 June 2012 (2011: BD 2.6m).
Now Health launches China proposition in Shanghai
International health insurance provider Now Health International has opened an office in Shanghai after signing a partnership agreement with Minan Insurance in 2011.
Haikui causes $230m of insured damage in China
Damage from Typhoon Haikui, which hit China last week, has been assessed at ¥1.046bn ($230m).
Pannone wins Aria Assistance legal services tender
Aria Assistance, the newly launched independent firm that evolved from the management buy out of Europ Assistance, has appointed Pannone Affinity Solutions to provide legal advice and services support.
AIR Worldwide launches 'under construction' modelling
AIR Worldwide has expanded its offerings for commercial insurers with a capability for determining losses from natural catastrophes to buildings under construction.
SAMA 'extremely helpful' for foreign investors in Saudi, says Charles Taylor
The Saudi Arabian Monetary Association was "very positive" and "extremely helpful" when approached about a foreign adjuster looking to invest in the kingdom, according to Joe McMahon, chairman of Charles Taylor Adjusting.
Chinese motor insurers fail to make profit for fifth year
Chinese motor insurers did not make a profit in 2011 as claims hit ¥11.2bn, according to data from the Industry Association of China.
Indian insurers set to agree $50m of cover for Iranian oil ships
Indian insurance companies look likely to agree to $50m cover per voyage with Iranian crude oil on risk for collision and spills.
United India posts 21% rise in net profits
United India Insurance Co has posted 21% growth in net profit at Rs192 crore for the quarter ended 30 June 2012 (2011: Rs 159 crore).
Indian PMI insurer Apollo Munich Health aims for profit in 2013
Indian health insurer Apollo Munich Health Insurance has recorded gross written premiums of Rs 475.9 crore and aims to turn a profit next year.
Cyber poll result
Why are European insurance companies failing to provide tailored cyber products?
Cyber Risk Insurance Forum sets focus in inaugural meeting
The Cyber Risk Insurance Forum, established to develop a security framework for companies taking out cyber insurance, has held its inaugural meeting, expanding its membership and developing two lines of focus for its on-going campaign.
Società Reale Mutua di Assicurazioni's outlook negative due to weaknesses
Italian insurer Società Reale Mutua di Assicurazioni and its Spanish subsidiary Reale Seguros Generales have been issued with insurer financial strength ratings at 'BBB+' with negative outlooks.
Swiss Re's Q2 results hit by sale of Admin Re at a loss
Swiss Re has reported net profit of $83m for the second quarter of 2012 as the result of the sale of the Admin Re US business at a loss of $1bn.
Japanese insurance groups vulnerable to catastrophe and stock losses
Japanese non-life insurers are likely to come under rating pressure if insured catastrophe losses rise unexpectedly, or the domestic stock market falls sharply before they are able to restore their capitalisation, according to Fitch Ratings.
Philippine Stock Exchange closes as country sees 11 days of monsoonal rains
The Philippines has seen 11 consecutive days of monsoonal rains, exacerbated by passing tropical cyclones, which has led to flooding in the capital of Manila and surrounding provinces of the island of Luzon.
Markel International returns to underwriting profitability and COR of 84%
Markel Corporation has reported gross written premiums of $514m for the six months ended 30 June 2012, compared with $483m for the first half of 2011, and a combined ratio of 93% for the six months compared with 107% for the same period in 2011.
Charles Taylor acquires Saudi loss adjusting business
Charles Taylor has made a strategic move to grow its loss adjusting business across the Middle East by acquiring a majority stake in Noble Inspection and Loss Adjustment Company, a licensed loss adjuster based in Saudi Arabia.
Investors more cautious of insurers owing to European concerns
Investors continued to have a more negative view of the global insurance sector relative to ratings in the second quarter of 2012, according to Moody's.
Paul Summers appointed global CEO of Aon Benfield Fac
Paul Summers is to become global chief executive of Aon Benfield Fac with immediate effect.