Insurer
Munich Re posts €1.6bn profit for H1
Munich Re posted consolidated profit of €1.6bn for the first six months of 2012, €812m of which derived from the second quarter.
Japanese insurance groups vulnerable to catastrophe and stock losses
Japanese non-life insurers are likely to come under rating pressure if insured catastrophe losses rise unexpectedly, or the domestic stock market falls sharply before they are able to restore their capitalisation, according to Fitch Ratings.
Philippine Stock Exchange closes as country sees 11 days of monsoonal rains
The Philippines has seen 11 consecutive days of monsoonal rains, exacerbated by passing tropical cyclones, which has led to flooding in the capital of Manila and surrounding provinces of the island of Luzon.
Markel International returns to underwriting profitability and COR of 84%
Markel Corporation has reported gross written premiums of $514m for the six months ended 30 June 2012, compared with $483m for the first half of 2011, and a combined ratio of 93% for the six months compared with 107% for the same period in 2011.
Brit lead underwriter heads to Dual with speciality liability team
Departing lead underwriter John Murphy has thanked his former employers at Brit Global Specialty after revealing his decision to join Dual, taking his entire underwriting team with him.
Markel International COR drops to 84% in H1
Markel International has posted a combined operating of 84% for the first six months of 2012, a 46% improvement on the figure of 130% in 2011.
Aviva grows UK profit despite restructure hitting group operating profit
Aviva has reported a 10% fall in operating profit including restructuring costs to £935m in the first half of the year (H1 2011: £1.04bn).
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.
Charles Taylor buys majority stake in Saudi Arabian loss adjuster
Charles Taylor has acquired a majority stake in the Noble Inspection and Loss Adjustment Company in a bid to develop its Middle East footprint.
Allianz launches healthcare plans in China
Allianz Worldwide Care is launching international healthcare plans for China that it hopes will appeal to international and local companies.
Indian power failure highlights supply chain exposures
The widespread power failures in northern India in July highlighted the potential exposure for businesses relying on offshore outsourcing to deliver key services to customers worldwide, according to Zurich.
Merlin Claims goes into administration
Merlin Claims has gone into administration today just two months after denying that it was in trouble.
South Korea poised to resume loading Iranian crude
South Korea and the National Iranian Tanker Company are rumoured to be close to a deal that could see the Asian nation resume the loading of Iranian crude before the end of September.
Consumers warned against cancelling policies to save cash
The rising number of people cancelling insurance policies have been warned that the supposed cash-saving practice could ultimately end up costing more.
Towergate nabs Bupa chief risk officer Jackson
Bupa chief risk officer Keith Jackson will quit his role to take on an identical position at Towergate when he joins the firm on 8 October.
Axa direct and affinity restructure looms
Axa is expected to reveal the new structure for its direct personal lines and affinity business next week, following previously announced plans to merge the two operations.
Wunelli launches driving simulator app
Telematics insurance business Wunelli has launched a smartphone safe driving simulator app which allows young motorists to test their driving skills and determine whether they can save on car insurance.
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.
LAS signs storm claims deal with Lloyds Bank
LAS Claims Management's specialist surveying division, Waylett & Co, has secured a deal validating storm-related roof claims for Lloyds Banking Group customers.
Typhoon Haikui to cause millions of pounds of insured losses
A typhoon that is sweeping its way through eastern China could cause up to £100m insured losses.
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.
Oman consults Malaysia over draft Takaful rules
UK law firm Clifford Chance has submitted draft proposals for legislation to cover Takaful in the Sultanate of Oman.
Aon Benfield director appointed CEO of Willis' Chilean operation
Global broker Willis has appointed Alejandro Vaccaro as chief executive of the company's Chilean facultative reinsurance division.