November 6, 2015
Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion) from 1.61 billion euros [$1.7 billion] a year …
November 5, 2015
Zurich Insurance Group AG said profit fell 79 percent in the third quarter after it booked $275 million in losses from the Tianjin disaster and set aside $367 million more in reserves to cover mainly North American auto and construction …
November 5, 2015
Munich Re, the world’s biggest reinsurer, said third-quarter profit slumped 29 percent on a decline in earnings from investments. Net income declined to 520 million euros [$567.8 million] in the three months through September from 733 million euros [$800.4 million] …
October 9, 2015
Typhoon Mujigae – also called Kabayan – made landfall in China’s Guangdong Province on October 4 with reported wind speeds up to 135 miles per hour (217 kilometers per hour) in some locations. Mujigae quickly moved from a Category 3 …
September 23, 2015
Portfolio managers have pledged to steer $2.6 trillion in investments away from fossil fuels in an effort to prevent catastrophic climate change. That’s a 50-fold increase from the cumulative total a year ago, $50 billion, as environmental groups increased pressure …
July 10, 2015
UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …
May 22, 2015
France’s largest insurer will scrap holdings in coal companies because of concerns about climate change, broadening support for the fossil-fuel divestment movement to a major mainstream investor. AXA SA Chief Executive Officer Henri de Castries said he’s working to sell …
March 19, 2015
Economic losses from global natural catastrophes likely will triple over the next 15 years, unless steps are taken to reduce bad development choices, according to preliminary results of a catastrophe modeling study presented at the third UN World Conference on …
March 17, 2015
The Caribbean general insurance market remains profitable, albeit challenging, for participants, according to an A.M. Best special report titled “Caribbean-based General Insurers: What Lies Ahead?” The report says that the region is susceptible to major storm damage, earthquakes and flooding, …
February 3, 2015
Combined, average homeowners and auto insurance premiums in Ohio are nearly $500 less than national averages, according to the state’s insurance department. Personal lines premiums in the state are among the lowest in the country, Lieutenant Governor and Department of …