October 24, 2016
Hurricane Matthew will have a limited impact on the years-long decline in rates for reinsurance, according to industry representatives, who predict primary insurers will push back against price increases at the start of 2017. “I expect a strong likelihood for …
October 19, 2016
The European Union needs a common pension product because existing long-term savings offerings are too complex and costly, the region’s industry regulator said. “There are too many products and people don’t really understand them,” Gabriel Bernardino, chairman of EIOPA, the …
October 13, 2016
Hurricane Matthew, which devastated parts of the Caribbean before battering the U.S. East Coast, may cost insurers as much as $8.8 billion, according to AIR Worldwide. The catastrophe-modeling firm estimates insured losses range from $2.2 billion to $6.8 billion for …
September 15, 2016
Reinsurers, forced to cut prices for four years in a row, should target brokers’ fees as the industry seeks to reduce costs, according to Lloyd’s of London Chairman John Nelson. The brokers need to cut profit margins as the industry …
September 14, 2016
In a world of increasing automation and standardization, Europe’s big reinsurers are betting that a more personal touch can reverse years of falling prices. Companies including Munich Re AG and Swiss Re AG are increasing their focus on policies that …
September 12, 2016
Axis Capital Holdings Ltd., the reinsurer seeking to grow its business after losing a bidding war for PartnerRe, is looking for more partnerships and may try another comparable takeover, its chief executive officer said. “PartnerRe was an example of a …
August 23, 2016
It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …
August 18, 2016
Allianz SE, Europe’s biggest insurer, and France’s AXA SA were among first-round bidders for the rights to distribute general insurance products through Standard Chartered Plc outlets in Asia, according to people with knowledge of the matter. A unit of MS&AD …
August 9, 2016
Munich Re, the world’s second-biggest reinsurer, reported second-quarter profit that beat analysts’ expectations as gains from currencies and investments cushioned higher claims from natural disasters and restructuring charges at its Ergo primary-insurance unit. Net income declined to 974 million euros …
August 5, 2016
Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income declined to 1.1 billion euros ($1.2 billion) from …