Europe

IUMI has backed calls from the International Association of Dry Cargo Shipowners, (Intercargo) for action to tackle the dangers posed by the liquefaction of cargo.

Research has found that the majority of risk and underwriting professionals believe premiums for commercial clients are likely to be wrong due to the way risk analysis reports are being compiled.

Guy Carpenter has said the 1/1 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation.

US wholesale broking specialist AmWINS is poised to buy insurance and reinsurance broking and risk management group, THB after its board agreed to an offer from AmWINS to acquire 100% of the share capital of THB at 80.55 pence per share.
 

Reinsurer Munich Re released its third quarter results with a warning that the heavy impact of this years natural catastrophes will see a combined ratio well above its average annual target of 97%...

Underwriting group Kiln has launched the first policy to protect mobile phone users against losses arising from ID theft and unauthorised payments...

Swiss Re’s research arm Sigma has issued its preliminary estimates for the total insured losses for the global insurance industry from natural catastrophes and man-made disasters in the first six months of the year, and have put the figure at $70 billion.

Professional services firm Towers Watson has said Europe needs to learn the lessons from the United States if they are to tackle the rising tide of obesity.

Reinsurers and investors are not capitalising on the potential attractiveness of the sector as a source of uncorrelated cash flows, leading to an undervaluation of the industry says a new report issued at the annual Monte Carlo Rendezvous. 

Ratings agency Standard & Poor’s says the threat of a huge leap in the liability for pollution spills is the biggest threat to the appetite for reinsurers to offer capacity to the marine and energy market.

Hull underwriters are on a 14 year steak of failing to deliver an underwriting profit and have been warned the influx of a huge level of tonnage in the coming three years will spell further gloom for the sector.