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Daily NewsFlash : July 31, 2013

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Wednesday, July 31, 2013

Global Insurance Rates Decline in Most Regions: Marsh

MarshInsurance rates in most major regions declined modestly in the second quarter of 2013, while rates in the US rose moderately, according to Marsh's latest Global Insurance Market Quarterly Briefing, released today. Outside the US, rates typically fell between 1% and 3%, resulting in a decline in the Marsh Risk Man...

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ADP Report: 200,000 Private-Sector Jobs Added in July

Jobs up for JulyBusinesses boosted their July payrolls at faster pace than economists thought and June's number was revised higher, according to a tally of private-sector hiring released Wednesday.

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BP Reveals that Oil Spill Compensation Fund Running Out

BP compensation fundBritish energy giant BP admitted on Tuesday that its $20 billion (15 billion euro) fund to compensate victims of the 2010 US oil spill disaster has almost run out of cash.

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GAO Report: Effects of 2007-2009 Financial Crisis on Insurers and Clients Limited

GAO report on insurance during 2008 crisisAccording to a newly released report by the U.S. Government Accountability Office (GAO), the effects of the financial crisis on insurers and policyholders were generally limited, with a few exceptions. While some insurers experienced capital and liquidity pressures in 2008, their capital ...

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Hartford Financial Widens 2Q Net Loss to $190 Million on International Variable Annuity Hedging Program

Hartford 2nd quarter resultsHartford Financial Services Group Inc. widened its second-quarter net loss to $190 million due to $421 million in realized capital losses, after-tax, on its hedging programs for its international variable annuity business. The quarter's result also included a $126 million loss, ...

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Allied World Launches Multinational Product Initiative

Allied WorldwideAllied World Assurance Company Holdings, AG announced today the official launch of Allied WorldWideSM, a newly created platform designed to meet the insurance coverage needs of multinational clients.

Allied WorldWide was designed to improve the buying process tha...

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XL's 2Q Net Climbs Despite Cat Losses

XL profitsXL Group's second-quarter results were up despite the impact of $134 million in pretax catastrophe losses.

The catastrophe losses resulted from flooding in Argentina, Europe an...

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