United States of America (USA)
London market training goes international
The Lloyd's Market Association will begin offering a range of technical programmes and courses internationally.
Editor's comment: An explosive start to the year
I started this year in style watching the fireworks over Sleeping Beauty’s castle at Disneyland Paris. Looking at January’s headlines the insurance industry has also started this year with a bang.
Aspen takes $245m underwriting loss in Q4
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
Analysis: Soft reinsurance renewals dash hard market hopes
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
QBE to miss 2017 COR target and fall to loss after "challenging year"
Australian giant QBE is expecting a combined operating ratio of 104% and $1.2bn (£858m) loss for 2017's financial year.
AIG to buy Validus for $5.56bn
AIG has unveiled plans to acquire Validus Holdings for $5.56bn.
McLarens makes two senior appointments
McLarens has appointed Ross Landsbaum as chief financial officer and Adam Weiner as senior vice president, IT strategy & operations.
Some insurtech investment doesn't make sense, conference hears
Some investment criteria into insurtech start-ups “don’t make sense over time”, said Neil Harrison, global head of claims at Aon Risk Solutions, warning against “innovation that is going to cause dissatisfaction”.
Executives admit they were unprepared for 2017 nat cats
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Global run-off market 'extremely buoyant' at $730bn in 2017
The value of the global non-life discontinued business market exceeds $700bn, according to research from PWC.
Beazley predicts to beat analysts on 2017 earnings
Lloyd’s carrier Beazley said it expects to post a pre-tax profit for 2017, ahead of market expectations and in despite of hefty nat cat bills in the fourth quarter.
Single cyber attack could cost insurers more than Hurricane Katrina
Losses from a single cyber attack could see the industry fork out more than a major loss natural catastrophe like Hurricane Katrina.
Davies Group snaps up R&Q’s insurance management operations
Davies Group has bought Randall & Quilter’s Insurance Services and Captive Management Operations for £18.6m.
Amazon criticised for trying to 'poach' Lemonade staff
Amazon is attempting to poach staff of insurance start-up Lemonade with "obscene" amounts of money, the CEO of Lemonade claims.
Hyperion’s revenue up 20% at full year
Hyperion Group posted a 20% jump in revenue for the year ended 30 September 2017.
FM Global names Lawson chairman of the board
FM Global’s president and CEO Thomas Lawson has been elected chairman of the board by the group’s board of directors.
Beach snapped up by Acrisure
Acrisure is to acquire the independent reinsurance broker Beach & Associates.
US Reinsurance outlook remains negative, says AM Best
AM Best is maintaining a negative outlook for the US property and casualty reinsurance sector due to continued pressure on property catastrophe rates.
Fresh capital to make reinsurance rate rise short-lived
New capital entering the reinsurance sector will wash away any relief gained from rate rises at January renewals, Aon Benfield has said.
M&A values up 170% as priority turns to capital optimisation
Merger and acquisition activity rebounded in 2017 with completed deal values increasing 170% in the first half of the year, according to Willis Towers Watson.
Cat bond issuance reaches $10.5bn in 2017
Catastrophe bond activity set a new record last year with full-year 2017 cat bond issuance totalling $10.5bn (£7.75bn), according to Property Claim Services.
Insured cat losses hit record $135bn in 2017, says Munich Re
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
Sompo International buys Lexon Surety
Sompo International has acquired Lexon Surety Group, the second largest independent surety insurer in the United States.