United States of America (USA)
‘Tidal wave’ of alternative capital to disrupt reinsurance market: Aon CEO
Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
AIG international GI unit sees $399m loss
AIG’s international general insurance business was hit by $399m (£286.5m) losses in in the last quarter of 2017, nevertheless an improvement on the $441m loss it suffered in Q3 2016.
Allianz shows ‘preliminary’ interest in XL: report
Allianz is reportedly eyeing up XL as a potential acquisition target.
Beazley targets double digit growth for 2018
London market carrier Beazley is to target double digit growth over the next 12 months.
Beazley sees profit fall from nat cats
Beazley saw profits fall by 43% as a result of exposure to “heavy claims” from natural catastrophes.
Brit appoints Christopher Ballantyne as VP
Brit has appointed Christopher Ballantyne to the newly created role of vice president of delegated claim authority.
Marsh and McLennan see revenue up 6% at full year
Marsh and McLennan Companies has reported a 6% boost in full year revenue.
Marsh's Lei Yu on the right cover in the age of product recalls and class actions
While the US has led the consumer rights crusade against defective products, other countries are becoming increasingly protective, writes Lei Yu, managing director, Marsh Hong Kong and Macau.
Chubb sees income drop in Q4 despite US tax reform gains
Chubb reported net income for the fourth quarter ended December 31, 2017 of $1.53bn, a drop from the $1.61bn reported for the same quarter last year.
London market training goes international
The Lloyd's Market Association will begin offering a range of technical programmes and courses internationally.
Editor's comment: An explosive start to the year
I started this year in style watching the fireworks over Sleeping Beauty’s castle at Disneyland Paris. Looking at January’s headlines the insurance industry has also started this year with a bang.
Aspen takes $245m underwriting loss in Q4
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
Analysis: Soft reinsurance renewals dash hard market hopes
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
QBE to miss 2017 COR target and fall to loss after "challenging year"
Australian giant QBE is expecting a combined operating ratio of 104% and $1.2bn (£858m) loss for 2017's financial year.
AIG to buy Validus for $5.56bn
AIG has unveiled plans to acquire Validus Holdings for $5.56bn.
McLarens makes two senior appointments
McLarens has appointed Ross Landsbaum as chief financial officer and Adam Weiner as senior vice president, IT strategy & operations.
Some insurtech investment doesn't make sense, conference hears
Some investment criteria into insurtech start-ups “don’t make sense over time”, said Neil Harrison, global head of claims at Aon Risk Solutions, warning against “innovation that is going to cause dissatisfaction”.
Executives admit they were unprepared for 2017 nat cats
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Global run-off market 'extremely buoyant' at $730bn in 2017
The value of the global non-life discontinued business market exceeds $700bn, according to research from PWC.
Beazley predicts to beat analysts on 2017 earnings
Lloyd’s carrier Beazley said it expects to post a pre-tax profit for 2017, ahead of market expectations and in despite of hefty nat cat bills in the fourth quarter.
Single cyber attack could cost insurers more than Hurricane Katrina
Losses from a single cyber attack could see the industry fork out more than a major loss natural catastrophe like Hurricane Katrina.
Davies Group snaps up R&Q’s insurance management operations
Davies Group has bought Randall & Quilter’s Insurance Services and Captive Management Operations for £18.6m.
Amazon criticised for trying to 'poach' Lemonade staff
Amazon is attempting to poach staff of insurance start-up Lemonade with "obscene" amounts of money, the CEO of Lemonade claims.