United States of America (USA)
Nimmo to take on Lockton CEO role as Hammond becomes exec chair
Lockton international operations' deputy CEO Neil Nimmo is set to replace Mike Hammond as CEO of the privately held broker in the UK and internationally.
Am Trust to acquire Republic for £153m
Am Trust has reached an agreement to acquire Texas-based property and casualty insurer Republic from its owners Delek Group for $233m (£153m).
Volkswagen's coverage questioned as £4.7bn is earmarked for emissions scandal
Volkswagen is unlikely to be able to rely on insurance to protect it from exposure relating to falsified US emission tests in particular diesel models of its vehicles, loss adjuster Cunningham Lindsey anticipates.
Iran sanctions removal may present early opportunity for EU insurance firms
Non-US owned insurance companies may look to steal a march on their competitors if sanctions prohibiting trading with Iran are not lifted simultaneously by all countries.
Crawford CEO Bowman steps down after eight years in top job
Crawford & Company CEO and president Jeffrey Bowman is to exit the Atlanta-headquartered loss adjuster after more than 24 years of service with the company.
Disaster losses reach £23.7bn in H1 2015
Total economic losses from natural catastrophes and man-made disasters reached $37bn (£23.7bn) in the first half of 2015, according to Swiss Re.
Mimicking MiFID II: Three potential outcomes of CSA unbundling in the US
An updated version of the European Union's Markets in Financial Instruments Directive - known throughout the capital markets industry as MiFID II - won't go into effect until 2017, but tensions surrounding the regulations are already high.
Integro snapped up by PE house Odyssey
International insurance brokerage and risk management firm Integro has reached an agreement to be acquired by entities affiliated with private equity firm Odyssey Investment Partners.
Hurricane Katrina: 10 years on
A decade after Hurricane Katrina hit New Orleans, what lessons has the insurance industry learned –and how has the city recovered?
Income down almost 200% in Q2 at Aspen amid selective strategy
Aspen Insurance saw gross written premium fall by 7.3% to $722.8m (£464m) from $779.3m in the second quarter of 2015 as the firm reduced its exposure to certain energy-related Lloyd’s lines of business.
Horton confident for the future as Beazley racks up 16% rise in H1 profits
Beazley CEO Andrew Horton has hailed an “excellent first half” for his firm after presiding over a 16% year-on-year increase in pre-tax profits to $154.5m (£99.8m), up from $132.9m at the halfway point in 2014.
Iran nuclear deal paves way for sanctions removal for insurers
A tentative nuclear deal between Iran and six global powers could see the embargo against insuring and reinsuring entities from the pariah state lifted.
Lloyd's highlights data sharing as imperative to mitigating cyber risk
Insurers and governments must share data in order to accurately assess the risk of a large-scale cyber attack and protect businesses, according to Lloyd's research.
Insurers warned to 'remain cautious' if Iran sanctions are lifted
The possible relaxing of sanctions against Iran offers a tempting source of new business but insurers must remain vigilant when considering entering into business arrangements with the state, international lawyers have warned.
Flood Re to launch £2.1bn reinsurance procurement
Flood Re is to begin the process to secure £2.1bn of reinsurance cover and is anticipating interest from Bermudian and US companies as well as collateralised reinsurers.
Europe: Cyber security
With hacking and phishing scams on the increase, businesses would be expected to include cyber insurance in their arsenal of measures designed to protect them and their customers in the event of breaches.
Could Google and Admiral's 'marriage of convenience' shake up US insurance?
Earlier this year I wrote a blog about Admiral’s high profile tie up with Google in the US.
Chily hire leads to boost in Gallagher recruitment hopefuls
The number of people seeking to work at Arthur J Gallagher following Grahame Chilton's appointment as international CEO has "expanded substantially", according to the broker's president and CEO Pat Gallagher.
Updated: Gallagher at risk of FCA penalty from s166 review
Arthur J Gallagher says it cannot rule out the possibility of being fined or penalised by the Financial Conduct Authority after a quarterly statement from the company revealed the regulator had called for a skilled person's review of parts of the broker…
Ride-sharing: Innovation Uber allies
A new compromise between US insurers and ride-sharing companies could provide a new model for insuring those who wish to use their cars to carry paying passengers.
Torrance returns to Allianz board after short-lived US adventure
Former Allianz UK CEO Andrew Torrance has been appointed as a non-executive director of Allianz Holdings, two months after leaving the firm’s Fireman’s Fund business in the US.
Pet Insurance: Protecting a growling market
The UK pet insurance market has exploded over the past few years and is expected to continue to grow. But just how do insurance companies build on this without falling prey to unscrupulous operators?
Reduced reserve releases impact Beazley profits
Beazley recorded an 18% reduction in profit after tax from $264m (£173.7m) in 2013 to $217.8m for the year ended 31 December 2014.
Broking profits rise $59m at Gallagher as acquisition costs spiral upwards
US giant Arthur J Gallagher’s broking operation chalked up net earnings of $263.8m (£174.1m) for the year ended 31 December 2014, compared to $204.8m over the previous 12 months.