Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Insurance Industry, IICF Raise $70K-Plus for Central Texas Flood Victims
Oct 16 2015 // Central Texas may currently be under drought conditions and suffering from elevated wildfire risk but merely months ago the situation was just the opposite. In May, the Austin and Central Texas areas were deluged with...
Why Australia’s IAG Decided to Halt China Expansion Plans
Oct 16 2015 // When Insurance Australia Group, the country’s largest general insurer, announced ambitious plans in June to ramp up its business in Mainland China, several institutional investors including Jason Kim were seriously...
Indiana’s Butler University Creating Student-Run Insurer
Oct 14 2015 // Almost a quarter of the insurance industry is set to retire by 2022, and Butler University’s College of Business in Indianapolis is preparing its graduates to fill those voids by establishing its own student-run...
What’s Driving Surplus Lines Insurance Growth?
Oct 12 2015 // Times are good for surplus lines professionals. The surplus lines industry reached new heights in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion – the highest point in history, reports A.M....
Global Property Insurance Premiums Top $360 Billion: Finaccord Survey
Oct 12 2015 // As of the end of 2014 the worldwide property insurance market was worth $360.5 billion in gross written premiums with household (homeowners’) policies making up 54 percent of this total, according to a survey...
FERMA Forum Focuses on ‘Great Difficulties’ in an Ever Riskier World
Oct 9 2015 // The FERMA Forum differs from the Reinsurance Rendezvous in Monte Carlo, as it is mainly attended by corporate risk managers, rather than reinsurers and brokers. This year, however, two overriding concerns were uppermost in...
Assessing First-Half P/C Insurance Results: A.M. Best
Oct 6 2015 // The property/casualty insurance industry is likely to post a third consecutive year of underwriting profits, considering its performance in the first half of the year and barring any late year catastrophic losses,...
It’s a Tough Time for Reinsurers, but Their Defensive Strategies Are Working: S&P
Oct 6 2015 // It’s a tough time for reinsurers — “pricing is soft, regulators continue to raise the bar, capital is at record highs, competition is increasing, and reinsurers are constantly looking for ways to remain...
South Carolina Insurance Director: Insurers Ready for Claims from ‘Devastating’ Storm
Oct 5 2015 // The insurance industry is bracing itself for an expected onslaught of claims in the wake of what South Carolina officials are calling a 1 in 1,000 year storm. “This is an extremely devastating event,” said...
NAMIC Legislators of the Year from Indiana, Missouri
Oct 5 2015 // Missouri Rep. Don Gosen and Indiana Rep. Matt Lehman were named Legislators of the Year for the 2015 legislative session by the National Association of Mutual Insurance Companies. Gosen is chairman of the Missouri House...
Insurers Respond Slowly to Growing Demand for Cyber Insurance: Timetric Report
Oct 5 2015 // The cyber risk insurance market is experiencing rapid development, with the size of global gross written premiums growing from US$850 million in 2012 to an estimated US$2.5 billion in 2014, according to a new report by...
Growing the Next Generation of Agency Professionals
Oct 5 2015 // Despite low unemployment, competitive salaries and overall job stability, a career within insurance or at an insurance agency, is often overlooked by today’s Millennial generation. However, with the industry in the...
Embrace Diversity
Oct 5 2015 // Willis Great Britain CEO Nicolas Aubert issued a call to the re/insurance industry to embrace diversity. Challenging the status-quo, he said the industry needs to employ a truly meritocratic approach to hiring. Aubert was...
IICF Week of Giving About Helping, Hope and the Future Starts Oct. 10
Oct 2 2015 // Giving can go well beyond being a mere act of philanthropy. That’s the thinking behind the upcoming Insurance Industry Charitable Foundation event from Oct. 10 through Oct. 17. The IICF Week of Giving, formerly known...
UK Insurers Call for Collective Action to Address Climate Change
Oct 1 2015 // Lloyd’s of London and other UK insurers called for collective action to address climate change on Thursday, after a report from the UK regulator this week highlighted risks to their industry from global warming. In...
How P/C Mutual Insurers Perform Compared to P/C Industry
Sep 30 2015 // Mutual property/casualty insurers tend to underperform the property/casualty insurance industry as a whole in several areas of performance, a new report says. However, the A.M. Best report notes, the mission of a mutual...
Willis GB CEO Tells Insurance Industry It Must Embrace Diversity
Sep 29 2015 // Willis Great Britain CEO Nicolas Aubert issued a call to the re/insurance industry to embrace diversity. Challenging the status-quo, he said the industry needs to employ a truly meritocratic approach to hiring. Aubert was...
Treasury Names 9 to Panel on Private Insurance Market for Terrorism Risk
Sep 24 2015 // The U.S. Department of the Treasury today announced the appointment of nine people to serve as members of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM) to spur the private market for terrorism insurance. The...
The Hartford’s Nelligan Named Chairman of IICF’s Texas/Southeast Division
Sep 22 2015 // The Insurance Industry Charitable Foundation (IICF) has named Tim Nelligan, central division executive for The Hartford, as chairman of its Texas/Southeast division board of directors. Nelligan assumes the chairmanship...
Californians Pushed by Wildfires into High-risk Insurance Market
Sep 21 2015 // There are lots of reasons people live in California’s Modjeska Canyon. Nestled against the mountains and abutting the Cleveland National Forest, the area has abundant wildlife and access to nature, yet is just a 20...
