United States of America (USA)
Swiss Re posts 91% drop in net income for Q2
Swiss Re's net income attributable to common shareholders fell by $877m to $83m (2011: $960m) in the second quarter of 2012 owing to a $1bn loss from the sale of the US business Admin Re.
XL underwriting returns to profit
XL's property and casualty business has reported a rise in gross written premium in the first six months of the year to $4.08bn compared with $3.86bn in the same period in 2011.
China suffers $8bn economic losses from July floods
Aon Benfield has estimated that the floods in China during July caused economic losses of $8.3bn.
Latest AIG share sale to net US Treasury $750m
The US government expects to receive $750m (£481m) from the latest sale of stock held in American International Group.
D&O may fall short of covering directors for cyber risks
The expanding online universe has introduced new financial risks that may not be covered under general and professional liability insurance, including standard directors' and officers' policies, Willis Group Holdings has warned.
US tightens economic sanctions against Iran
The US Congress has passed a new package of economic sanctions against Iran, Reuters reported.
Heath Lambert integration costs fail to halt Gallagher growth momentum
Arthur J Gallagher has chalked up a strong first half to the year, despite the continued Heath Lambert integration costing the business $3.3m (£2.1m) in H1 2012 - a $1.5m rise on the same period last year.
Iran expands tanker insurance in face of sanctions
Iran has promised to insure shipments of its oil to include Iranian and foreign tankers in the latest bid to circumvent insurance sanctions, AFP reported on Saturday.
Brit CEO vows to target growth while committing to Simply Business
Mark Cloutier has promised to go on the attack by targeting growth in key areas following a business restructure towards global specialty underwriting, which he describes as "99% complete".
Insurers failing to tailor cyber products to European risks
Insurers are failing to provide cyber products tailored to the risks faced by European clients, according to CFC Underwriting's Graeme Newman.
Q2 ILS issuance exceeded $2bn, Aon Benfield study shows
Catastrophe bond issuance for the second quarter of 2012 reached $2.1bn as investors continued to deploy capital into the sector, a report by Aon Benfield Securities revealed.
Lancashire reports hike in profit to $102.6m
Lancashire has reported a 35.5% increase in gross written premium to $514.8m in the first half of the year, compared with $379.8m in the same period in 2011, reporting growth across three of its four main classes of business.
Single accounting framework is an 'ideal' that would take 'years'
The benefits of a single set of accounting standards have long been debated, but a recent report has revealed a surge in insurer support. Francesca Nyman considers the feasibility of this goal.
European Union liability trends raise 'supra-national' challenges
UK Prime Minister David Cameron has hinted that he wants to rein in Europe's legislative power. Ralph Savage looks at the effects it is having on European insurers.
Amlin targets US casualty reinsurance risk
Amlin is launching a casualty reinsurance operation in the US with a focus on general and professional liability.
Nat-cat losses dip below average for first six months of 2012
Natural catastrophe losses for the the first six months of 2012 were $26bn, well below the six-month average of recent years, according to Munich Re.
Brokers surprised as US firm adds fracking to 'prohibited risks'
US insurer Nationwide Mutual Insurance Company has become the first major insurance company to confirm that it will not cover damage related to hydraulic fracturing.
H1 natural catastrophe losses $70bn less than in 2011
Insured losses from natural catastrophes were approximately $12bn in the first six months of 2012, significantly less than the $82bn in the first half of 2011.
Aviva appoints new general insurance CEO amid senior shake-up
Aviva’s UK & Ireland general insurance chief executive David McMillan has been given the new role of director group transformation and a remit to manage the implementation of the new strategic plan across the group.
Market moves: Insurance takes the initiative
Last week saw the recruitment initiative wrestled back from the broking sector, with the majority of hires coming from within the insurer space. Headline appointments in that sphere came thick and fast in the form of a changing of the guard at Catlin…
Quindell division delivers record licence pipeline results
The Quindell software and consulting division has finished the first half of 2012 with licence pipelines at record levels, following a Q2 in which multiple new insurance and telecoms contracts and extensions were sealed.
Analyst rules out North American sale ahead of Aviva meeting
Aviva has been warned against the disposal of its US and Canadian divisions as there are too few buyers in the marketplace.
Aviva's US business tipped to be on the line in turnaround stategy
Aviva could close or sell as many as 15 divisions as part of its turnaround strategy, according to reports.
Crawford hands Devall the reins to London-fronted business in the US
Crawford & Company has appointed veteran London market executive James Devall to lead the company's London-fronted business in the US.