QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on 14 June 2011.” QBE …
Along with its recap of the applicable provisions of UK law covering damages caused by riots, the Association of British Insurers also issued a special letter to business owners. The ABI expressed its sympathy for those “who have suffered damage …
The Association of British Insurers has issued a set of guidelines and an explanation of the insurance coverage incident to the recent riots in London and other UK cities. The ABI estimates that insured losses and damage suffered by individuals …
In an announcement that received slightly less notice than the downgrading of the U.S.’ ratings from ‘AAA’ to ‘AA+’, Standard & Poor’s also announced that it has revised its outlook on Platinum Underwriters Reinsurance Inc. and Platinum Underwriters Bermuda Ltd. …
It’s been 10 months since the first big earthquake struck New Zealand’s second-largest city. It’s been nearly five months since a far more devastating one killed 181 people and crippled the downtown. And it’s been just a few hours since …
A report from Towers Watson has concluded that “motor insurance losses in a number of Middle East countries have dropped sharply thanks to traffic safety measures,” which have reduced accident and casualty rates by 30 to 50 percent over the …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s Insurance Company (China) Limited (LICCL). Best also affirmed the ICR of …
The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in the region of 10 percent of their total shareholders’ …
Cedar Rapids, Iowa-based United Fire & Casualty Co. announced that it expects its second quarter results through May to include pre-tax catastrophe losses, net of reinsurance, of approximately $30 million to 35 million. These losses include $7 million to $9 …
Property and casualty insurers craving respite from a long-running drop in prices are eyeing the start of the U.S. hurricane season next week in the hope that summer windstorms will finally turn the market. The June 1 to Nov. 30 …
