Europe
Increasing threat posed by solar flares
Power and utility underwriters may be unaware of the extent of the threat of major solar flares to the world's electrical generation infrastructure, space weather specialists told the London Power Forum last week.
PZU plans to pay 100% of profits as dividend
State-owned Polish insurer PZU SA intends to pay 100% of its unconsolidated net profit in dividends if the country's regulator approves, chief executive Andrzej Klesyk said at a press conference Wednesday, according to news agency Dow Jones.
Germany sees premium growth but motor still loss making
German insurers are expected to reap a 1.5% rise in premiums to €180.7bn this year, the head of the industry trade body GDV said on Wednesday.
Insurers urged to check books as S&P held accountable for 'misleading' rating
Insurers have been urged by a leading lawyer to check their books to see whether they have open notifications from credit rating agencies after an Australian court ruled that Standard & Poor's was liable for damages to investors.
Miller appointment strengthens marine team
Miller has enhanced its marine capabilities with the appointment of stock throughput, cargo and project cargo insurance broking specialist Tony Robinson.
Catlin GWP grows 11% as Sandy-hit New York office remains closed
Catlin reported an 11% increase in gross written premium to $4.08bn in the nine months to 30 September 2012 compared with the same period in 2011 (9m 2011: $3.68bn).
Asia-Pacific only bright spot in bleak outlook for insurers for 2013
Asia-Pacific and emerging economies are the only bright spots in an otherwise bleak outlook for the insurance sector in 2013.
Service failures by outsourcers number three cause of supply chain disruption
Outsourcing failure is now a significant cause of supply chain disruption, according to a report by Zurich.
Environmental risk concerns top list for mid-size European companies
Environmental issues are climbing the corporate risk agenda in Europe, according to Ace Group.
Allianz CEO urges insurers to embrace Russian market
The rapid development of compulsory insurance in Russia provides a huge opportunity for foreign insurers, according to Hakan Danielsson, chief executive of IC Allianz Russia.
RSA hails "unique geographic footprint" after 15% growth in emerging markets
Emerging markets led growth for RSA in the first three quarters of 2012 as challenging conditions continued to affect performance in its core European market.
Benign nat cats help Swiss Re to $2.2bn net income in Q3
Swiss Re reported net income of $2.2bn in the third quarter of 2012, driven by strong performance from P&C reinsurance and a one-off gain from the sale of the Admin Re US business.
Jumping into the multi-national risk pool
Multinational pooling of group risk products seems to have so many benefits it's a 'no-brainer' but, as Edmund Tirbutt reports, the European market is holding back and wondering whether it's too good to be true.
EU consults on the harmonisation of limitation periods
As the European Commission seeks to consult on the impact of Rome II, Kelvin Farmaner and Paul Lavelle explain the options for further harmonisation of limitation periods.
Aviva reveals 97% COR in steady results
Aviva's general insurance business delivered a combined operating ratio of 97% in the first nine months of 2012, in line with the previous year, excluding RAC.
ING reveals job cuts as it posts 39.3% fall in operating result
ING said on Wednesday that 1,350 jobs are to be cut from its European insurance operations as the firm seeks to achieve a standalone future.
Munich Re expects "mid three-digit million euro" Sandy hit
Munich Re expects its share of the losses from superstorm Sandy to be in the "mid three-digit million" euro range, based on primary estimates, but remains optimistic of achieving a €3bn profit for the 2012 financial year.
Munich Re: Sandy to drive up property insurance prices
Munich Re's reinsurance operation produced a Q3 operating result of €1.2bn (Q3 2011: €665m) and premium income of €7.5bn (Q3 2011: €6.5bn).
Munich Re estimates Sandy losses close to £400m
Munich Re has estimated its share of the losses from superstorm Sandy at the "mid three-digit million" euro range, despite the high number of individual losses making it difficult to assess the extent of the damage.
Dual launches general liability division with Brit hires
International underwriting agency Dual has formed a new division to underwrite specialty liability business as part of the continued expansion of its product range.
Ace Europe head criticises London market's 'lack of vision'
London's insurance industry must avoid complacency and reinforce its position as the global insurance centre through innovation, collaboration and recognition of the shift towards emerging markets, the chairman of Ace European Group said today.
LMA seeks clarity over impact of sanctions on marine fuel oil
The Lloyd's Market Association has sought reassurances from the UK government after concerns that insurers could fall foul of EU sanctions by insuring vessels that have inadvertently taken on Iranian oil as fuel.
Swiss Re places bonds to combine nat cat and mortality risks
Swiss Re has obtained $200m in coverage against North Atlantic hurricane and UK extreme mortality risk through its new Mythen Re programme.
Privilege, Swiftcover and Tesco to benefit from gender directive
The three insurers' motor policies have been named as the most likely to be recommended by women, according to research by independent insurance analyst Consumer Intelligence.