April 13, 2012
A report from the Geneva Association, “Reflections on a High-Quality G-SIFI Designation Process in Insurance,” authored by Daniel Haefeli and Patrick M. Liedtke, gives some meaningful insights into the process of defining what is – and is not – a …
April 11, 2012
Two strong earthquakes in the Indian Ocean, located off the west coast of the Indonesian island of Sumatra, have triggered tsunami warnings across the region. The US Geological Survey (USGS) reported the first quake at 2:38 PM local time [4:38 …
March 30, 2012
Despite delays and complaints the European Union’s Solvency II regulations, which cover the insurance industry, are slowly but surely moving forward. While most of the industry is primarily concerned with the regulations governing capital requirements – Solvency II’s “Pillar I,” …
March 29, 2012
At first glance that statement may seem a little strange, considering that Lloyd’s reported an overall loss for the year of £516 million ($822 million). But considering that overall insured losses for the year from natural catastrophes were between $107 …
March 28, 2012
The loss, announced today by Lloyd’s of London, shows just how severe the second costliest year for catastrophes on record for the insurance industry actually was. Lloyd’s announced a loss of £516 million ($822 million) for 2011 – a large, …
March 28, 2012
Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer points …
March 26, 2012
Specialist marine insurer Allianz Global Corporate & Specialty (AGCS) has taken an in depth look at the current state of marine insurance 100 years after the sinking of the Titanic. That legendary disaster led to improved safety requirements for ocean …
March 20, 2012
Hector Sants, the chief executive of the UK’s Financial Services Authority (FSA), has announced his intention to leave the organization at the end of June 2012. He indicated that, as the “fundamental design and delivery of the changes needed to …
March 19, 2012
Following earlier predictions, tropical cyclone Lua came ashore on Australia’s northwest coast, the “Pilbara” coast, as a strong category 4 storm; i.e. wind speeds from 130 to 156 mph – 209 to 251 km/h. It subsequently weakened as it moved …
March 15, 2012
LeapFrog Investments, an investment fund focused on insurance and financial services companies, announced two senior appointments as it expands its investment portfolio in Asia and Africa. David Steel, previously Managing Director of Strategic Planning for AIG, was named Director of …