AIG repays US Government bailout debt
18 June 2012
US global insurance giant AIG has paid back $US39 billion ($38.65 billion) in debt to the US Federal Reserve…
International
Reinsurers yet to feel the pinch
18 June 2012
Reinsurers are not yet seeing their premiums rise to the levels that might be expected after a year that totalled more than $US100 billion ($98.9 billion) in insured catastrophe losses…
Outlook stable for brokers: Moody’s
18 June 2012
Ratings agency Moody’s says the outlook for the global broking sector remains stable, with turbulent economic conditions tempered by rate rises…
Turnaround predicted for UK broker market
18 June 2012
Years of contraction in the UK broker market are set to come to an end, industry research firm Ibisworld has forecast…
UK insurers face pressure from PM over floods
18 June 2012
UK Prime Minister David Cameron has promised flood victims his government will pressure insurers to settle claims and provide compensation…
Age discrimination laws won’t apply to UK insurers
18 June 2012
UK insurers will still be able to consider age in assessing risk and calculating premiums when new age discrimination laws come into effect from October…
Speculation builds over IAG UK sale
18 June 2012
A document detailing the recovery of Equity Red Star, IAG’s UK business, has been released to a targeted group of potential acquirers, providing a further signal that the business is for sale…
CII calls for industry action on climate change
18 June 2012
The insurance industry needs to get on the front foot and spread awareness of the necessity of action against climate change or risk a widespread market failure and insurance company insolvencies…
Ace acquires Indonesian insurer
18 June 2012
Ace is to acquire Indonesian insurer PT Asuransi Jaya Proteksi for $130 million in cash…
Dallas hailstorm could cost insurers $US2 billion
18 June 2012
Insured losses from a hailstorm that hit Dallas, Texas, last week could reach as much as $US2 billion ($1.98 billion), making it one of the most costly storms in US history…
Trade credit insurers pull plug on Greece
12 June 2012
Major trade credit insurers have stopped providing new cover for exporters to Greece, fearing the risk of the country leaving the eurozone…
Guy Carpenter says reinsurance capacity will dampen rate rises
12 June 2012
The reinsurance sector remains awash with capital despite last year’s losses, says Guy Carpenter in a report on the June 1 renewals…
Zurich’s Greco leaves to run Generali
12 June 2012
Zurich CEO General Insurance Mario Greco has been recruited to run Italy’s Generali Group after Generali CEO Giovanni Perissinotto’s sudden departure…
Good figures for US commercial lines
12 June 2012
US commercial insurance prices increased by nearly 5% during the first quarter of this year, according to a new pricing survey by actuaries Towers Watson…
US commercial rates up 4%
12 June 2012
The composite rate for US commercial insurance during May was up 4%, according to insurance exchange MarketScout…
May catastrophes take toll on Italy, US
12 June 2012
Total loss estimates from the recent Italy earthquakes now stand at $US6.3 billion ($6.4 billion), and severe weather has affected the US and other areas, according to Aon Benfield’s monthly…
AIG’s Benmosche flags Chartis name change
12 June 2012
AIG CEO Robert Benmosche has confirmed the group is considering dropping the Chartis brand and renaming it AIG…
Hyperion creates Lloyd’s mega broker, but IPO ‘should wait’
04 June 2012
UK-based insurance group Hyperion, which owns the Dual underwriting agency, has acquired Lloyd’s broker Windsor ahead of a planned 2013 stockmarket float…
UK motor insurers may be referred to Competition Commission
04 June 2012
Britain’s Office of Fair Trading has provisionally decided to refer the country’s private motor insurance market to the Competition Commission after finding that referral fees and rebates boost insurance costs…
Italy aftershocks hit insured losses further
04 June 2012
Risk modeller Eqecat has more than doubled its estimates on insured losses in northern Italy, following two damaging aftershocks a week after the May 20 earthquake…