Willis Q3 profit slumps
29 October 2012
Global broker Willis has reported a third-quarter profit of $US26 million ($25 million), down from $US60 million ($57.8 million) in the previous corresponding period, but outgoing Chairman…
International
Ace surges in third quarter
29 October 2012
Global insurer Ace has reported a rise in third-quarter net income on surging premiums and several bolt-on acquisitions…
UK car premiums soften
29 October 2012
Tough competition in the UK motor market has forced premiums down for the second time this year, continuing a trend of price volatility that is playing havoc with insurers…
WR Berkley profits rise sharply
29 October 2012
WR Berkley has increased third-quarter net profit by 32% to $US100.95 million ($98.1 million), with CEO and Chairman William Berkley calling an end to the soft market…
Chubb reports stronger third quarter
29 October 2012
US-based insurer Chubb has reported third-quarter net income of $US533 million ($515 million), up 78% from $US298 million ($287.94 million) in the corresponding period last year…
Aon calls for risk feedback
22 October 2012
Broker Aon wants risk leaders across the insurance industry to contribute to its forthcoming global risk management survey…
Galbraith to depart as BIBA chief
22 October 2012
Eric Galbraith, who oversaw a turbulent decade of regulation and reform as head of the UK’s peak insurance broking body, is to end his tenure as CEO…
JLT shares fall on dour update
22 October 2012
Global insurance broker JLT Group has taken a share price hit after warning of a drop in profits across its reinsurance business and European-based Thistle Insurance Services…
Indonesia insurance stable: Fitch
22 October 2012
The Indonesian insurance industry is expected to remain stable next year, with most insurers maintaining their financial fundamentals, Fitch Ratings says…
RAA wants framework for global reinsurance supervision
22 October 2012
The Reinsurance Association of America has called for a framework of regulatory co-operation between the US and the European Union…
Plumeri’s replacement another non-broker
22 October 2012
Famous for his New York swagger, unconventional management style and “anything is possible” mantra, Willis CEO Joe Plumeri is to step down after 12 years running the world’s third-largest brokerage…
Emerging markets enjoy commercial insurance boom
22 October 2012
Commercial insurance is growing two to three times faster in emerging markets than elsewhere, according to Swiss Re’s latest Sigma report…
Twin peaks provides better protection
22 October 2012
The CEO of the UK’s new Financial Conduct Authority says the forthcoming “twin peaks” model will provide more resources for protecting customers and policing institutions…
Insurer ensnared in Armstrong doping scandal
22 October 2012
A US insurer that underwrote performance bonuses paid to Lance Armstrong after winning his sixth Tour de France is preparing to sue the former champion cyclist…
Insurers divided on proposed US disaster laws
22 October 2012
Insurers and other interest groups are divided about new US legislation designed to protect residents from natural disasters…
ICA joins global federation
15 October 2012
International trade bodies including the Insurance Council of Australia have joined forces to create the Global Federation of Insurance Associations…
Americans criticise ComFrame ‘confusion’
15 October 2012
The American Insurance Association fears the ComFrame working draft is being interpreted as a new layer of prudential supervision…
Islands attract more insurance-linked securities deals
15 October 2012
Bermuda is becoming a centre of the global insurance-linked securities and special purpose insurer (SPI) business, according to the local regulator…
RBS sells insurance unit
15 October 2012
The Royal Bank of Scotland has raised £787 million ($1.2 billion) from the initial public offering of its insurance unit Direct Line, according to reports…
AIA takes ING’s Malaysian arm for $1.64 billion
15 October 2012
AIA Group has bought ING’s Malaysian life business for $US1.73 billion ($1.64 billion)…