United States of America (USA)
York International hands MD role to ex-Axis boss Jacob
York International has appointed Alistair Jacob as managing director, where he will be responsible for the strategic business development across all territories outside of North America.
EU-US dialogue project agrees five-year plan
The Steering Committee of the EU-U.S. Insurance Dialogue Project has agreed on a high level work plan from 2013 to 2017.
View from the Top: Having a purpose
Insurers owe it to policyholders to pay up when called upon, without discussion and without delay, says Mike Hammond.
Emerging market megacities will be "gamechanger" says Swiss Re
Eight of the top megacities in the world will be in emerging markets by 2025, according to Swiss Re.
Eqecat appoints new president after Keogh exit
Paul Little has been appointed as president of catastrophe modelling firm Eqecat.
Lower claims frequency hits Charles Taylor adjusting profit
Growth in Charles Taylor's management services and Isle of Man-based run-off insurance business in 2012 have offset reduced earnings in its adjusting services business, which was hit by a lower number of complex claims than the previous year.
Regulatory convergence not necessarily 'better' for insurance industry
Attempts to harmonise global insurance regulations are “more aspirational than realistic”, according to DLA Piper’s Bill Marcoux.
Overseas buyers behind surge in transactional risk insurance
Demand for transactional risk insurance grew by 41% globally in 2012 as firms increasingly turned to the insurance market to protect large deals and cross-border acquisitions or sales.
Cross-border acquisitions drive demand for transactional risk insurance
Global demand for transactional risk insurance grew by 41% last year as firms turned to insurance to protect large deals and cross-border acquisitions and sales, according to Marsh.
McManus charged with driving forward business as Giles takes up US role
Giles Insurance executive chairman Chris Giles is to become non-executive directive of Expectrum, the holding company of Giles Insurance and Ink Underwriting.
AIG shareholders win class-action status in lawsuit against the government
An American judge granted class-action status to two groups of AIG shareholders in a $25bn (£16.7bn) lawsuit by former chief executive Maurice “Hank” Greenberg over alleged losses arising from the bailout the insurer received from the US government,…
Day joins Global Options advisory board
Global Options has appointed former Ace vice president Roger Day to its advisory board.
Aviva hit by £3bn post-tax loss
Aviva has announced a full year total loss of £3bn (2011: £60m profit), alongside a 44% cut in its final dividend.
JLT increases revenue by 7% and unveils new transformation programme
JLT increased revenue to £880.1m in 2012 with 7% coming from organic growth and 1% through acquisitions. This was offset by 1% foreign exchange movements compared to 2011.
CGSC reveals US management changes
Shaun Hooper has succeeded Neal Abernathy as president and chief executive of Cooper Gay Swett & Crawford's wholesale, reinsurance broking and underwriting operations in North America.
US Risk targeting Lloyd’s brokers for marine, energy growth
US Risk chief executive Randall Goss has told Post he currently in talks to buy three Lloyd’s brokers.
QBE European premium up 6% to £3.2bn
QBE has reported an 8% rise in net profit after tax to US$761m (2011: $704m) in 2012, while insurance profit was up 16% to $1.26bn (2011: $1.08bn) supported by a strong investment result.
Hiscox profit soars to £217m
Hiscox has reported a pre-tax profit of £217.1m for the full-year 2012, dwarfing the 2011 result of £17.3m, and improving its group combined ratio by 14 percentage points to 85.5%. Gross written premium increased to £1.57bn (2011: £1.45bn).
AIG income falls to $3.4bn in 2012
AIG's net income fell to $3.4bn (£2.23bn), or $2.04 per diluted share, in 2012 compared with $20.6bn, or $11.01 per diluted share, the year earlier.
Sandy hit AIG reports $4bn Q4 loss
American International Group reported a net loss of $3.4bn for the full year 2012, following a net loss of $4bn for the fourth quarter.
BP heads for two-step Deepwater Horizon civil trial
BP is to face a civil trial over the 2010 Deepwater Horizon oil disaster, after talks on a settlement with US authorities collapsed.
Marsh restructures to better serve large corporates
Marsh said today that plans to merge several business units “to further focus on meeting the evolving needs of its largest clients worldwide”.
Financing the growing costs of disasters
Reto Schnarwiler, head of global partnerships for Swiss Re, Americas and EMEA says that a lack of insurance and the growing costs of disasters are hitting individuals and governments hard. He explores how government partnerships with insurers can help…
UK court confirms 9/11 was double reinsurance event
The Commercial Court's move to uphold an earlier legal decision that the 9/11 World Trade Center attacks arose out of two events rather than one is "of considerable interest to the insurance and reinsurance market", according to law firm Herbert Smith…