An additional £500 million [$838 million] has been added to the flood loss estimates from the almost continual storms, some reaching hurricane strength, which have produced widespread flooding to parts of Britain since December. The latest figures indicate that they …
The 2013 Atlantic storm season has proved one of the quietest in decades with the lowest number of hurricanes since 1982 and none of them considered ‘major’, according to insurance broker Willis Re. An unusually quiet hurricane season is significant …
European insurers breathed a sigh of relief on Thursday that a deal on new capital requirements was less burdensome than initially feared, ending an uncertainty which has been hanging over the sector for many years. Lawmakers from the European Parliament …
Britain’s financial regulator is investigating whether two life insurance companies breached new rules that ban the offering of commissions to financial advisers for selling their products. The Financial Conduct Authority (FCA) said on Wednesday it had referred two unnamed firms …
A flood of investment capital into structures linked to insurance could lead to instability and spark a new financial crisis if left unsupervised, a top official has warned. Billions of dollars from investment funds has flooded into insurance-linked structures in …
Germany’s Allianz and Australian group QBE bear the bulk of the insurance liability from this week’s fatal train crash in northwest Spain, according to sources at the companies. While Allianz’s Spanish subsidiary covers a compulsory personal accident policy for Spain’s …
Europe’s insurers criticized the approach taken by international regulators which named firms considered systemically important as they try to reduce financial risks from the sector. Two global financial watchdogs released a list of nine insurers late on Thursday they said …
Insurer Prudential has reaffirmed a commitment to its British home market as a source of financial strength and profit even as Asian units romped ahead as the main driver of sales. Speaking on Tuesday after posting 8 percent first quarter …
Rich private investors are turning their backs on hedge funds because moves to attract more conservative pension fund clients mean managers no longer deliver the big returns they crave. The fastest growing source of new money for hedge funds is …
