Reinsurance
Peak Re makes gains at renewal season
Hong Kong-based reinsurer Peak Re said it welcomed a good 1 July renewal season in the Asia-Pacific region.
Swiss Re P&C arm hit by nat cat losses in Q2 2013 as COR jumps to 100.7%
Swiss Re this morning reported net income of US$786m (Q2 2012: US$83m) in the second quarter of the year on premiums earned of $6.8bn (Q2 2012: US$6.1bn).
Concordia wreck removal to cost $1.1bn says Munich Re
The loss creep for the stricken ship Costa Concordia continues with Munich Re revealing that removal costs for the wreck are likely to exceed $1.1bn.
Willis Re's Australia chairman in Bermuda move
Willis Re Australia chairman Michael Harden has been appointed chief executive of Willis Re Bermuda.
Willis Re Australia chair Michael Harden to head Bermuda office
Willis Re Australia chairman Michael Harden has been appointed chief executive of Willis Re Bermuda.
AJ Gallagher targets reinsurance expansion in Asia
Arthur J Gallagher (Singapore) is targeting 30% reinsurance premium growth this year as the broker promotes Maxwell Sung to managing director of reinsurance.
Europe's floods hit Munich Re's profits in Q2
Munich Re's profits fell considerably in the second quarter compared to the same period in 2012 as it booked a huge cost for the recent European floods.
Huge reinsurance growth potential in Asia, says Fitch
Global ratings agency Fitch believes there is significant room for the reinsurance market in Asia to grow given relatively low insurance penetration in Asian markets.
Double appointment for HSB energy team
Specialist engineering and construction insurer HSB Engineering Insurance, part of Munich Re, has made two appointments to its power and energy team.
Storm surge cat bond issued for New York MTA
The first ever catastrophe bond for storm surge has been issued for the New York Metropolitan Transportation Authority, based on modelling from RMS.
RMS delivers risk analysis for storm surge catastrophe bond
Catastrophe modelling firm RMS has delivered risk analysis for a storm surge catastrophe bond to provide the New York Metropolitan Transportation Authority with $200m (£132m) storm surge protection.
How big data is changing the world
Insurers welcome the availability of more information on their insureds, but the handling of so much data presents many challenges. Sam Barrett investigates.
Post magazine – 1 August 2013
In this week's Post, the conclusion of a Transport Select Committee inquiry into the cost of motor insurance has sparked “disappointment” among insurance industry bosses after MPs refused to support Ministry of Justice plans to place whiplash claims on…
Insurance Europe calls for global approach to tax evasion
Insurance Europe has welcomed efforts by the Organisation for Economic Co-Operation and Development to develop a global standardised solution for tax information exchange.
Job cuts not primary source of savings drive claims JLT
Jardine Lloyd Thompson senior executives have denied that the predicted £12m annual savings from its business transformation programme will come primarily from job cuts.
Am Trust to buy Sagicor Europe
Am Trust Financial Services plans to acquire Sagicor Europe from Sagicor Financial Corporation in a deal worth approximately £57m.
Am Trust agrees £57m deal for Sagicor Europe
Am Trust Financial Services has agreed to acquire Sagicor Europe from Sagicor Financial Corporation for approximately £57m.
Hiscox posts 75% combined ratio for H1
Hiscox has beaten analyst expectations to post a combined ratio of 75% for the first six months of 2013.
Claims Club Asia launches Claims Awards Asia
Entries for the inaugural Claims Awards Asia are now open.
Post magazine - 25 July 2013
In this week's Post, the Financial Stability Board's listing of global systemically important insurers has raised concerns over a "lack of clarity" on why implicated firms are on the list and the costs that will be generated by an enhanced supervisory…
Q+A: Terence Cheung, head of claims, Greater China, Munich Re
Insurance Insight finds out the views of one of the leading claims' professionals in the region.
Cat bond market must expand: Willis
If total alternative reinsurance solutions like catastrophe bonds are to continue to grow, a wider range of perils should be considered according to Willis Capital Markets & Advisory.
Post magazine - 18 July 2013
In this week’s Post, brokers have raised concerns over the effectiveness of Aviva underwriters and its ability to maintain service levels following the insurer’s decision to move more underwriters into broker offices and abandon almost half its regional…
China government catastrophe guarantee 'needed urgently', says Munich Re
He Hua, a catastrophe consultant for Munich Re in China, has called for the industry to put more pressure on the government to introduce a public private partnership to help guarantee the payments of catastrophe claims, especially for large earthquakes.