Europe
AIG suffers $3bn Q4 loss and 241.6% commercial COR
Global insurance giant AIG saw losses widen in Q4 2016 following a $5.6bn (£4.5bn) pre-tax charge to boost its reserves for prior year commercial claims.
Willis Towers Watson reveals 50% profit drop
Global insurance broker and advisory firm Willis Towers Watson has published a 50% decline in net income for the financial year ending 31st December 2016.
What UK sanctions may look like post-Brexit
2016 was a momentous year that heralded a series of political developments with far-reaching consequences for international trade. Speculation and uncertainty abound about what Brexit means for international trade and sanctions.
Insured nat cat losses total $39.5bn in 2016 says Willis Re
Global insured natural catastrophe losses totalled $39.5bn (£31.3bn) in 2016, the highest market losses since 2012’s $60bn, according to Willis Re.
Aon revenue falls 2% in 2016
Global broker Aon reported a 2% drop in revenue in its overall 2016 full year results.
Sovereign Capital backing management buy-out of Irish broker Arachas
UK private equity firm Sovereign Capital is backing the management buy-out of Irish brokerage Arachas Corporate Brokers.
Bila's Castle on the prospect of collective redress in the UK
The prospect of a full-blown, opt-out US class action culture, funded by a Plaintiff Bar made fat from its cut of the damages, is not one that most UK insurers would relish.
Remaining Enterprise claims 'progressing rapidly', liquidator confirms
Premium claims yet to be returned to Enterprise policyholders will "progress rapidly" over the coming weeks, liquidator Freddie White has confirmed.
Aviva offloads French life insurance holding
UK-headquartered insurer Aviva has sold its entire 50% shareholding in Paris-headquartered life insurance joint venture Antarius.
Profits at Zurich's global GI division improved 182% in 2016
Swiss giant Zurich's global general insurance operating profits climbed 182% last year to $2.44bn (£1.95bn) from $864m in 2015.
FSCS refunds 75% of Enterprise customers
Three out of four former policyholders of Enterprise have been compensated by the Financial Services Compensation Scheme.
Nexus Group's Colin Thompson on the evolution of MGAs
With more than 300 UK-based managing general agents underwriting roughly £5bn - circa 10% of the UK general insurance market - the MGA is already firmly established within the London market providing a key access point to local markets and the ability to…
Ten more insurance firms join Blockchain pilot
Ten more insurance companies have joined a pilot scheme to test the impact of Blockchain on the industry.
Marsh's Glaser hails 'excellent' 2016 results
Global broker Marsh finished off the year with a flourish to help produce solid revenue and strong profit growth for 2016.
Brexit whitepaper confirms UK will negotiate for financial free trade
The government’s Brexit whitepaper has reaffirmed Theresa May’s promise to negotiate the freest possible trade in financial services between the UK and the European Union.
Post Power List 2017: Samantha Barrass
CEO, Gibraltar Financial Services Commission
Post Power List 2017: Michel Barnier
Chief Brexit negotiator at the European Commission
Chubb sees $4.1bn after-tax profit in 2016
Global giant Chubb's after tax profits were $4.1bn (£3.2bn) last year compared with $2.8bn in 2015.
XL Catlin's CEO McGavick reflects on 'challenging year'
Bermuda-based global insurance giant XL Catlin saw operating profits fall from $706m (£557m) in 2015 to $461m last year as the firm paid out significantly more for nat cat losses.
ABI calls for changes to ‘flawed’ Solvency II risk margin
Insurers have submitted a request to the regulator for changes over a “flawed” portion of Solvency II.
QBE denies £12.1bn Allianz takeover bid
QBE said there was “no basis” to reports it is in talks on a £12.1bn takeover bid from Allianz.
Generali: We won’t use chat bots to deflect angry customers
Generali is trialling chat bots for “bureaucratic” tasks, but the company’s head of global claims said it wouldn’t be appropriate to use the technology to deal with angry customers.
European insurers hoping to emulate UK’s ‘aggressive’ fraud data sharing regime
Half of insurers in Europe that don’t currently share information with competitors on fraud wish to do so, according to a survey.
Telematics firm Kroodle looks to high risk customers of parent Aegon
Dutch insurer Aegon is using its start-up telematics provider Kroodle to improve driving performance of customers with high claims volumes.