Japan
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.
Thailand flood losses manageable for insurers
While the current flooding in Thailand is unusually severe and economically costly, the insured losses are likely to be at a manageable level and will not trigger widespread solvency problems, or undue financial strain, for the country's non-life…
Munich Re receives A+ (superior) rating
Munich Re has had its financial strength rating affirmed of A+ (Superior) and issuer credit ratings of “aa-” along with its subsidiaries.
France and Japan largest purchasers of cat reinsurance
France and Japan are the largest purchasers of excess of loss per event treaties according to a new report by Aon Benfield.
Japan - Post-earthquake: Aftershocks of the earthquake
New insurance legislation in Japan is set to be extensively tested six months after the devastating earthquake and tsunami that hit the country.
Hardy sets December 2010 start date for Singapore operation
Hardy Underwriting Bermuda has announced the opening of its new Singapore office.
International geocoding in insurance: The challenges and opportunities
Use of geocoding is common in insurers and has been for some time but Tim Spencer asks if insurers really understand the data they have at their fingertips and are making the best use of it.
Lloyd’s places syndicates under financial scrutiny
Lloyd’s has begun an intense examination of syndicates’ 2012 business plans, in a bid to weed out unprofitable underwriting risk.
Japan typhoon causing "minimal" damage
AIR Worldwide has estimated insured losses from Typhoon Roke are between $150m and $600m.
Willis develops interruption cover in wake of recent disasters
Willis has responded to the devastating impact of the earthquake and tsunami that struck Japan in March by developing an insurance product to cover business interruption costs for companies in catastrophe hotspots.
Market update - High net worth: Time to raise rates in HNW?
Rates in the high net worth market are failing to reflect the risks posed, despite high claims costs. Chinwe Akomah reports on a sector that is starting to come under pressure to deliver results.
Japanese insurer expands into Europe with Dutch acquisition
Nipponkoa Insurance Co has reached an agreement with Ethias NV to acquire all of the shares of the Dutch underwriting agency Nateus Nederland BV.
Eiopa launches equivalence consultation
The European Insurance and Occupational Pensions Authority has launched a consultation on the potential equivalence of the Bermudan, Japanese and Swiss supervisory systems with Solvency II.
Hiscox bemoans 'costliest year ever'
Specialist insurer and reinsurer Hiscox was stung by a pre-tax loss of £85.6m (2010: £97.2m profit) in the first half of the year but claims to be "heading towards the sunny uplands of profit".
View from the top: A hard market is coming
I started talking about positive signs of rate movement more than a month ago. While many agreed, not all of the market's 'big three' brokers shared this view. But a few weeks can effect considerable change and now even Aon's soothsayers will probably…
Axa seeks "selective" acquisitions in direct market
Axa has stressed that direct is a “growth engine” in the business in an investors presentation in Paris.
Axa seeks "selective" acquisitions in direct market
Axa has stressed that direct is a “growth engine” in the business in an investors presentation in Paris.
Law change in Japan could override policies
New insurance regulations in Japan could inadvertently heighten the industry's exposure to the Japanese earthquake and tsunami damage and, in some cases, override existing policy wordings, according to a specialist lawyer.
Kiln predicts “excellent” 2009 returns with outlook down for 2010
J Kiln & Co Limited, part of the Tokio Marine Group, has released forecasts for the 2009 and 2010 years of account – with 2009 set to make “excellent returns” and 2010 hit by major catastrophe activity.
Energy insurance remains favourable despite natural catastrophes
Despite an unprecedented number of recent natural catastrophes, conditions remain favourable for most energy insurance buyers, according to Marsh.
Mitsui Sumitomo has “adequate capacity” following Japan situation
Mitsui Sumitomo at Lloyd’s has updated the UK insurance market on the current situation in Japan following the earthquake and tsunami at the beginning of this year.
Legislation set to impact international reinsurers' exposure to Japanese earthquake damage
City law firm Reynolds Porter Chamberlain will explain the important areas of a new Japanese insurance law that will affect reinsurers' exposure to the Japanese earthquake damage at a talk on Friday 20 May.
Lloyd's reveals £2.34bn claims hit from quakes, tsunami and flooding
Lloyd’s has today announced its estimated net claims before tax from the earthquakes this year in Japan and New Zealand and the January 2011 floods in Australia.
Hiscox UK GWP up 8% on back of direct success and Dual tie-up
Hiscox’s gross written premiums year on year reduced by 8.0% to £453.5m (2010: £504.1m)for the first quarter. The insurer added this was "expected" as the it "maintained underwriting discipline and walked away from poorly rated risks".