Live Insurance News

Insurance news on a global scale shows solidification of rates

April 19, 2013April 18, 2013 H. Cutner

Marsh has now released its latest quarterly briefing on the state of the market and its trends. The most recent report released by Marsh has shown that the insurance news from around the world appears to indicate that the rates have been solidifying throughout the entire first quarter of the year. This firming trend is continuing one that has been continuing over the last year and a half. The insurance news report from Marsh showed that several parts of the globe have, overall, experienced a relatively stable rate environment. The…

Life insurance report shows Thai growth next year

November 30, 2012April 30, 2013

Fitch Ratings has released its predictions for the growth of the sector in Thailand’s marketplace. According to data from Fitch Ratings, next year, the life insurance sector in Thailand should be seeing steady growth in its premiums. This is supported by the growing affluence among its residence and the increased product awareness. The recent catastrophes that have been faced by the people of Thailand have made them more aware of the availability and importance of life insurance coverage. This was published in the research firm’s “2013 Outlook: Thai Life Insurance…

Insurance industry warning released by Lloyd’s of London

November 29, 2012November 27, 2012 Julie Campbell

The oldest market of insurers in the world has issued a caution to the globe. Lloyd’s of London, the oldest coverage market worldwide, has issued a warning to the insurance industry, cautioning it that if a natural disaster should strike in emerging economies, the cost of rebuilding could be enormous. It has included over a dozen emerging economies in its warning against tremendous rebuilding bills. In fact, it pointed out that there is currently a global insurance industry deficit worth £104 million ($168 million), and that this is now affecting…

Insurance news reveals the launch of a new global association

October 16, 2012October 16, 2012 H. Cutner

The GFIA has 31 founding members from around the world. The latest insurance news is now including the start of the Global Federation of Insurance Associations (GFIA) which includes 31 founding members from around the world and represents 87 percent of the worldwide industry business. Among the founding members is the Insurance Council of Australia. According to an insurance news statement made by Rob Whelan, the CEO of the council, “Insurance is very much a global business, and insurance industry associations face many of the same issues across the world,…

Insurance news report shows global prices increased 1.4 percent worldwide

July 5, 2012July 4, 2012 Dan

The Marsh data was included in its index for Q2 2012. If the forecasts based on the most recent insurance news report from broker, Marsh, are accurate, then the worldwide prices are aligned for a third consecutive quarter of increases, as the industry works to strengthen its financial situation following the sizable catastrophe claim payments in 2011 that approached record levels. The second quarter 2012 average global prices were 1.4 percent higher than they were last year. According to the Marsh Risk Management Global Insurance Index – which tracks the…

Insurance Australia to acquire New Zealand’s AMI Ltd. in $286 million deal

December 16, 2011May 6, 2013

The Insurance Australia Group Ltd, the nation’s largest home and auto insurer, has announced that it will be acquiring New Zealand’s AMI Ltd, one of the largest property insurers in New Zealand. The $286 million deal is already underway, but will require the approval of New Zealand’s insurance regulators before Insurance Australia can begin taking over policies. This is good news for those affected by the devastating earthquake that struck New Zealand in February of this year, as they will soon be able to enjoy policies from a larger, more…

Current Chinese insurance and reinsurance marketplace influx

December 6, 2011December 6, 2011 H. Cutner

There have been many changes to the Chinese insurance marketplace over the last few months, with the introduction of foreign insurers as well as the recent increases in the premiums for property and casualty insurance. Aon Benfield has just announced that those premiums had risen to $6.5 billion in 2011, which was a 67 percent increase over those in 2005. Furthermore, it has been forecasted that this growth will continue to rise as the China Insurance Regulatory Commission places its focus on premium increases and policies that will form a…