Natural catastrophes (Nat Cats)
UK insurance protection gap improved to 17% in 2022, Swiss Re says
The UK was hit by $900m (£732.6m) of economic losses from natural catastrophes such as storms and flooding in 2022, with insurance covering $800m of the total, according to Swiss Re.
David Howden calls for collaboration in disaster relief funding
At the World Climate Summit, Howden stressed insurance was the key to unlocking the private capital needed to address the £14.8bn ($20bn) disaster relief shortfall.
Insurance Covid Cast Episode Nine: Could Tiger King Joe Exotic cut it as a fraud fighter or handle big cats at Lloyd’s?
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are in isolation lockdown we present first in an irregular series - Covid Culture Club - where we discuss things to watch and do at home.
Tysers reports improved revenue as profit dips slightly
Broker's chairman says there are strong opportunities despite market challenges.
Profit at Lloyd’s hits £3.2bn
Record GWP in a benign year for catastrophe claims.
Lloyd's A+ rating upheld by Fitch as outlook is upgraded to positive
Lloyd's of London's financial strength rating has been upheld as A+ while its outlook has been upgraded to positive from stable, by agency Fitch Ratings.
Lloyd’s profits approach £3bn
Lloyd’s has announced a profit of £2.77bn for 2012, reversing a loss of £516m in 2011. The market also saw an improvement in its combined ratio to 91.1%.
Amlin swings back to profit and agrees $50m MGA deal
Amlin returned to the black after posting a pre-tax profit of £264.2m for 2012, a marked improvement on the £193.8m loss recorded for 2011.
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
Hiscox CEO attributes profit jump to 2012 catastrophe fall
Bronek Masojada, CEO of Hiscox, has described 2012 as a “very good year”, following the release of its annual results.
AIG reports $6.6bn profit for 2012
AIG has delivered a $6.6bn [£4.33bn] post-tax operating profit for 2012, up considerably from the $2.1bn achieved the year before.
Lloyd’s swings back to half-year profit
Lloyd’s has announced a profit of £1.53bn for the first six months of the year, reversing a loss of £697m in the same period of 2011.
Fitch upgrades Hiscox to A+ with stable outlook
Fitch Ratings has upgraded Hiscox Group’s, insurer financial strength (IFS) ratings from A to A+.
Catlin soars into profit
Catlin Group has reported profits of $231m [£148.3m] for the first six months of 2012, as opposed to a loss of $201m in the same period last year.
Novae returns to profit and improves COR by almost 20%
Novae Group returned to profit in the six months ended June 2012, making £19m, compared with a loss of £30m in the same period of 2011.
Fitch affirms QBE Europe's A+ rating as stable
Fitch Ratings has affirmed QBE Insurance Group’s long-term issuer default rating at A and its subsidiaries’ - including QBE Europe - insurer financial strength (IFS) ratings at A+.
Fitch confirms Lloyd's A+ rating as stable
Fitch Ratings has affirmed Lloyd’s of London’s insurer financial strength (IFS) rating at A+, with a stable outlook.
Amlin awarded stable outlook by ratings agency
Fitch has rated Amlin’s financial strength as A+ and reported that Amlin plc's long-term issuer default rating was A- with a stable outlook for both.
QBE's acquisition strategy contributes to Moody's downgrade
QBE's "aggressive pace of acquisitions" has led Moody's to downgrade the outlook of the insurer's senior debt ratings from 'stable' to 'negative'.
JLT claims positive start to 2012
Jardine Lloyd Thompson (JLT) said its financial position remains strong, in an interim management statement covering the period between 1 January and 25 April 2012.
Approach to risk has been challenged by 2011 catastrophes says Marsh
Marsh claims that the severity of casualty losses in 2011 has challenged established thinking on the nature of risk and that businesses need to re-examine their risk management strategies.