U.S. insurers deemed big enough to threaten the financial system will probably face capital standards that are simpler and less costly than those imposed on Wall Street banks, Federal Reserve Governor Daniel Tarullo said Friday. The Fed “in coming weeks” will seek outside comment on its plan for creating insurance-industry rules mandated by the Dodd-Frank Act, […]

Tokio Marine Holdings Inc said on Friday it estimates insurance payout for damages from last month’s deadly earthquakes in southern Japan to be around 5 billion yen ($45 million). The estimate does not include insurance for residential earthquake coverage, which is reinsured by the government in a programme designed to provide affordable insurance in a quake-prone country. […]

Sales of variable annuities fell to the lowest since 2001 in the first three months of this year as customers flocked to safety amid stock market volatility. First-quarter sales dropped 18 percent from a year earlier to $26.6 billion as almost all of the top insurers reported declines, according to data Thursday from industry group Limra. Customers bought about […]

  Nissan’s Qashqai will be the first mass-market car in Britain to have the ability to drive itself on a motorway. Driverless cars could become a standard feature of UK motor insurance policies under measures announced on Wednesday. Autonomous driving technology is still in its infancy, but the government is keen to encourage it as […]

  Britain announced plans on Wednesday for new motor insurance laws designed to encourage investment in driverless cars, as the government looks to capture a leading role in the nascent industry. The market for autonomous driving is worth 900 billion pounds worldwide, according to the government, but needs to overcome legal obstacles including determining who would be […]

Aspen has appointed Stephen Postlewhite as CEO of Aspen Insurance and Thomas Lillelund as CEO of Aspen Reinsurance, the Bermudian carrier announced today (18 May). The decision follows the announcement that current Aspen Insurance CEO Mario Vitale intends to retire. Vitale has been CEO of Aspen’s insurance business since 2012 and will remain with the […]

Liberty Mutual’s post-tax operating income went up by 0.5 percent to $405mn for the three months to 31 March, as the insurer’s combined ratio improved but investment returns dipped. The carrier also reported that net income was up 42.4 percent year-on-year to $393mn in the first quarter. The first quarter of last year had included […]

Today, City AM publishes its Power Women 100 list, celebrating female success in the city. The list is dominated by women working in tech, law and the finance industry – which is a significant achievement in itself. Why? Because too few women get to the top in the finance industry. Executive committees are made up overwhelmingly […]

Delta Lloyd NV rose the most in almost a month in Amsterdam after the Dutch insurer said its capital buffers should reach the higher end of its target range later this year. The Solvency II ratio, a measure of an insurer’s strength under rules introduced in Europe this year, will be boosted by the sale of Delta Lloyd’s […]

Two of American International Group (AIG)’s most prominent activist investors have changed their holdings in the insurance giant days after their representatives were voted onto the company’s board. Carl Icahn has raised his stake in AIG by 5.2 percent to 44.4 million shares, putting him in a better position to pressure the insurer to split […]