Results

Results

Lloyd's, London, Regulation, Regulation, Renewals, Results

Ward spells out evolution of market under Darwin

Lloyd’s CEO Richard Ward has said the market has to realise that its antiquated legacy systems are in need of radical change if it is to prosper.

Brokers, Capital Markets, Catastrophe, Earthquake, Europe, Flood, Losses, Results, Windstorm

Debt crisis set to dominate market's thinking

Despite one of the most expensive years on record for the re/insurance industry, one expert believes the debt crisis is now the biggest threat.

Catastrophe, Lloyd's, London, Losses, Results, Risk Management

Lloyd’s at a loss and not only over lack of pricing discipline

Lloyd’s Chief Executive Richard Ward has hit out at the global insurance industry for its decision not to meet the second worst claims year in history with a rise in premium rates.

Broking, Claims, Europe, Renewals, Results

Fragmented renewals highlight new approach from underwriters

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.

Catastrophe, Claims, Europe, Losses, Political Risk, Results

Munich Re warns of tough results for 2011

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%...

Asia Pacific, Claims, Financial Institutions, Results, Risk Management

Asian trade credit market predicted to bounce back

Markel in Singapore has announced it is seeking to broaden its product offering in Asia, with the latest addition to its suite of products, Trade Credit Cover...

Europe, Losses, Marine, Results

Cargo delivers first loss in a decade

The global cargo insurance sector is to report a technical loss for 2009 for the first time in almost a decade as the marine insurance market struggles to break even as excess capacity forces rates ever lower.

Broking, Lloyd's, North America, Results

US Reinsurance reform close to ratification

The years of discussion lobbying and debate over the perceived inequality of the US reinsurance regulations could be set to come to an end as the National Association of Insurance Commissioners (NAIC) look set to endorse its far-reaching reorganisation plans next month.

Europe, Rates, Regulation, Renewals, Results

Capital needs to drive insurers demands

At the Guy Carpenter Reinsurance Symposium on , 25 October 2009, Victor Peignet, CEO of SCOR Global P&C presented SCOR’s analysis of the reinsurance market and the outlook for the upcoming 2010 renewals.

Broking, London, Results

Profits up at Lloyd’s on enhanced investment performance

Lloyd’s has posted an increase in their first half profits for 2009 compared to the previous year driven by a stronger investment performance by the market.

Europe, Liability, Results

Irish eyes are smiling as DIMA posts record results

The Irish international re/insurance association DIMA, has reported a record year of premium growth for its membership as Dublin continues to attract new capacity and companies.

In recent weeks broker Willis has said it will redomicile to Ireland from Bermuda and the annually-produced DIMA membership statistics show that gross written premiums for 2008 reached €26.2bn, with net premiums increasing to €21.7bn.

Aviation, Brokers, Europe, Rates, Results, Risk Management

Major airlines will need to fight to limit premium increases

With the coming two months signalling the renewal of the insurance programmes for many of the world’s major airlines, broker Aon is predicting that the heavy level of claims already suffered this will see underwriters looking to push through double digit rate rises.

Claims, Liability, North America, Rates, Results

Space market in profit as launches buck recession

Barring a major end of year disaster the space insurance market looks to have delivered a payload of profit for the year according to a leading broker.

Claims, Financial Institutions, London, Losses, Results

Jewellery fraud spirals as recessions bite

As Two British girls face 16moinths of community service in Brazil for falsely reporting a robbery to claim on their insurance a leading claims specialist has warned fraudulent jewellery claims are now costing insurers £100m a year.

Broking, Europe, Facultative, Rates, Results, Treaty

Reinsurers push rate rises at 1/7 says report

Global reinsurers have remained disciplined at the pivotal July 1 renewals as with the exception of specific Asian coverages rates have continued to rise across the board and in particular those exposed to US catastrophe risks.

Bermuda, Financial Institutions, Losses, Results, Risk Management

Warranty move by Ace to serve specialist markets

One Bermudan underwriter has sought to add capacity to the financial institutions market with a new product aimed at protecting parties in the growing mergers and acquisitions sector.

North America, Regulation, Results

Record result for Hannover Re on US Court decision

Hannover Re has reported its 2010 results with a record result despite the cost of the year’s cat losses.

Aviation, Europe, Facultative, Losses, Results, Treaty

Aviation rates to take flight in 2010

Reinsurance rates for the aviation and space sectors are set to rise in the months ahead according to Hannover Re.

Broking, Claims, Losses, North America, Results

Only uncertainty on market turn is timing says broking chief

The heavy first half losses have left the re/insurance market at a tipping point according to the Chairman, President and CEO of broking group Arthur J Gallagher.

Bermuda, Catastrophe, Facultative, Results, Treaty

Renewals defined by capacity glut

Capacity defined the January 1 renewals but the underwriting discipline in the market has seen soften at levels which were better than feared.

Europe, Financial Institutions, Results

Peignet says reinsurer Scor-ed big at 1/1

The Chief Executive of French reinsurance Group Scor said the company had enjoyed an “excellent” renewal as it said the strategy it had created was paying off.

Victor Peignet, CEO of SCOR Global P&C, said: “The outcome of the 1/1 renewals was excellent for SCOR. It puts SCOR among the very best performers in the industry. The teams have done an excellent job and the response of the clients and brokers to SCOR’s business propositions, based on its values of continuity and consistency, has been extremely positive.

Capital Markets, Europe, Financial Institutions, Results

Munich Re to continue its share repurchase scheme into 2012

In advance of the definitive figures for its 2010 performance to be released this month Munich Re announced it expects to deliver a consolidated profit of €2.43bn for 2010 a figure which has been impacted by catastrophe losses across the year.

The profits compares to the 2009 figure of €2.56bn. It is also to continue its share repurchase programme into next year with up to €500m to be repurchased.

Bermuda, Capital Markets, Catastrophe, Claims, Results

Regions