New Lloyd’s Chairman names his priorities
28 November 2011
Lloyd’s Chairman John Nelson has told brokers that oversight is his top priority, given the current tough market…
International
Shareholders sue US Government over AIG bailout
28 November 2011
AIG shareholders have launched a $25 billion ($25.52 billion) lawsuit against the US Government and the New York Federal Reserve over the 2008 bailout of the giant insurance company…
Thai floods hit Japanese insurers
28 November 2011
Three Japanese insurance companies have warned of lower earnings this year after suffering heavy losses from the Thai floods…
Catlin and China Re form Lloyd’s syndicate
28 November 2011
Catlin and China Re will establish a new Lloyd’s syndicate in the first direct Chinese investment into Lloyd’s…
Hurricane Irene bill keeps rising
28 November 2011
The damage bill to insurers from Hurricane Irene, which devastated the east coast of the US in August, has surged 18% to $US4.3 billion ($4.42 billion)…
US P&C insurers’ Q3 profits take catastrophe hit
28 November 2011
The third-quarter earnings of US property and casualty insurers fell sharply due to catastrophe losses, says Moody’s Investor Service in a report on publicly traded insurers…
Industry must do more to attract young people, says CII
21 November 2011
The industry must do more to encourage young people to consider a career in insurance, says new Chartered Insurance Institute President Julian James, who has launched his presidential year…
US court denies BP claim over Deepwater Horizon explosion and spill
21 November 2011
Insurers to the operator of the Deepwater Horizon oil rig have fought off a claim by BP that it was covered under their policies when the rig exploded in the Gulf of Mexico in April last year…
US premiums showing some positive movement
21 November 2011
US premiums in three out of four lines of business are on the rise again, according to the latest Risk Management Society’s Benchmark Survey…
Thai floods advancing through capital
21 November 2011
The Thai floods continue to expand and are increasingly affecting the inner city of Bangkok…
French flood bill to hit hundreds of millions
21 November 2011
The cost to insurers of recent floods in southeastern France has been estimated at €600 million to €800 million ($800 million-$1 billion)…
Watch out for riskier investments in insurers
21 November 2011
While insurance companies have survived this year’s natural disasters, the International Association of Insurance Supervisors has expressed concerns about investment risk…
Catlin boosts GWP
21 November 2011
Lloyd’s (re)insurer Catlin Group has reported a 12% increase in gross written premium for the nine months to 30 September…
New rules ‘will force UK life insurers to change’
21 November 2011
The UK life industry is facing significant regulatory change that will force insurers to change their business models, a new report by Standard & Poor’s says…
UK regulator fines life broker $308,000 for fraud
21 November 2011
The UK Financial Services Authority has fined a broker £195,117 ($308,000) for insurance fraud and banned him from carrying on regulated financial services…
Reinsurers see rates hardening
14 November 2011
Catastrophe losses hit the profits of Hannover Re and Munich Re for the first nine months of the year, although they have reported that premiums are growing and rates are hardening…
Allianz Q3 profit slumps, but Zurich profit up
14 November 2011
German insurer Allianz has seen its profit slump in the third quarter due to the impact of share market turmoil on its investments and writedowns on Greek bonds…
Asia-Pacific accounts for 80% of nat cat losses this year
14 November 2011
Weather-related catastrophes in the Asia-Pacific region have more than tripled in the past 30 years, according to research by Munich Re…
Reinsurers remain keen on Asia-Pacific, says Lloyd’s
14 November 2011
Global reinsurers are confident about opportunities in the Asia-Pacific region and remain interested in doing business there despite this year’s catastrophe losses, according to a survey from Lloyd’s…
Gen Re remains on track in third quarter
14 November 2011
Berkshire Hathaway subsidiary Gen Re has shrugged off a torrid claims period earlier this year to post encouraging results in the third quarter…