Reinsurance
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
Market moves: ‘Tis the season for recruiting
As Christmas draws closer, the insurance industry has prepared for the New Year with a raft of appointments. In the broking market, there were moves for Aon and Willis, while Howden added three new faces to its team.
Post magazine – 8 December 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Willis Re report shows rise in motor premuims and fall in claims
UK motor insurance premiums have continued to rise in 2011, with some drivers facing price increases of up to 50 percent, according to an annual review conducted by Willis Re.
Motor insurers set to share application data in suspected frauds – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including how motor insurers plan to share suspected application fraud data as criminals try multiple applications to get cars on the Motor Insurance Database as cheaply as…
$600m of Thai flood losses fall to Swiss Re
Swiss Re estimates its claims costs from severe flooding in Thailand will be $600m of the $11bn total losses.
Swiss Re estimates Thai losses at $600m
Swiss Re estimates its claims costs from the flooding of 1500 industrial units in Thailand to be $600m, net of retrocession and before tax.
Japan to set up Asian nat cat insurance plan
Japan is planning to establish a large-scale insurance system encompassing the Asia-Pacific region to cover developing countries hit by devastating earthquakes, typhoons and other disasters.
Torus acquires Starr’s Continental Europe renewal rights
Specialty insurer Torus's syndicate 2243 has acquired the renewal rights to the European business of CV Starr's syndicate 1919.
Munich Re receives funding from German ministry for climate change initiative
Munich Re has teamed up with the Caribbean Catastrophe Risk Insurance Facility and specialist microinsurance broker Micro Ensure to develop insurance solutions developing countries vulnerable to climate change.
Challenges lie ahead for China's insurance market
The Chinese insurance market’s share of world insurance premiums has grown from 1% to 4% in the space of a decade, but with rapid growth come new challenges, according to an Aon Benfield report.
China’s P&C growth behind average
Reinsurance broker Aon Benfield says China’s property and casualty insurance growth has been too slow.
Cayman insurance law regulation changes almost complete
Enhanced regulations are being finalised relating to the Cayman Islands Insurance Law 2010, which was passed early last year.
Hyperion promotes APAC head to CEO of Dual International
International reinsurer Hyperion has promoted its head of Asia Pacific, Damien Coates, to chief executive officer of Dual International.
Haircut on bonds could be absorbed by European insurers
A 50% haircut on Greek, Irish and Portuguese sovereign bonds could be absorbed into European insurers’ existing capital resources, according to Swiss Re’s senior economist.
Swiss Re warns of low profits for 2012
Swiss Re’s economists say the insurance industry will not pick up until after 2012.
Simmons & Simmons expands insurance team
Law firm Simmons & Simmons has added insurance partner Pollyanna Deane to its corporate and commercial group in London.
Market moves: Fresh faces for underwriters
As the industry heads into December, underwriting agencies and insurers lead the way in the job market. This week saw major moves at Chubb, More Than and Travelers, while Evolution, Arista and Ink all welcomed new staff. It was another slow week for…
Former Aon UK boss Mahoney takes chair role and invests in analytics firm
Former Aon UK boss and past winner of the British Insurance Awards Achivement gong Dennis Mahoney has been appointed chairman of Sciemus, the analytics and modelling company.
Sciemus recruits former Aon Group chairman
Modelling company, Sciemus, has appointed insurance industry veteran Dennis Mahoney as its new chairman.
Post magazine – 1 December 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Hendrick to lead XL insurance arm
Greg Hendrick is set to replace Dave Duclos as chief executive of XL’s insurance unit.
Montpelier: Reinsurance rates likely to rise
The reinsurance industry has suffered an “unusually high frequency” of international catastrophes and rates could rise by 10% next year, according to Montpelier boss Tim Aman.
Omega seeks clarification over Haverford bid as deadline approaches
Lloyd's insurer Omega has admitted that bidder Haverford is considering cutting its offer for 25% of the business.