RSA calls time on UK motor business
24 September 2012
Royal & Sun Alliance has lost patience with the UK mid-market car insurance business, announcing plans to exit the sector early next year…
International
Insurance assets remain stable despite GFC
24 September 2012
The developing world is a major source of potential growth for insurance, according to the latest Allianz Global Wealth Report…
US Government banks AIG sale profit
17 September 2012
The US Government’s $US182 billion ($172.18 billion) rescue package of troubled insurer AIG has been repaid, plus change, in a windfall for taxpayers…
Government breaks silence on UK flood insurance
17 September 2012
The British Government is considering “a number of options” on the progress of the country’s new flood insurance program…
Focus on property catastrophe cover as reinsurance demand falters
17 September 2012
A shift to catastrophe reinsurance is making it increasingly hard for reinsurers to diversify their income streams, according to reinsurance broker Aon Benfield…
British ombudsman names insurers with most complaints
17 September 2012
UK Insurance, part of the Royal Bank of Scotland, prompted the most general insurance complaints to Britain’s Financial Ombudsman Service in the first half of this year…
Make US terrorism program permanent, III says
17 September 2012
The US Terrorism Risk Insurance Program should be made permanent or given a long-term extension, Insurance Information Institute President Robert Hartwig says…
Google drives into car insurance
17 September 2012
Google’s UK car insurance price comparison site has become the second most visible in the sector…
AIA tipped to buy ING’s southeast Asia business
17 September 2012
AIA Group is in line to buy the Malaysia and Thailand insurance businesses of Dutch bank ING, according to reports…
Hurricane Isaac insured losses top $US1 billion
17 September 2012
Risk Management Solutions (RMS) estimates Hurricane Isaac caused insured losses of $US1 billion to $US2 billion ($954 million to $1.91 billion)…
British insurers launch fraud register
17 September 2012
The UK has launched an insurance fraud register featuring details of all known offenders…
US insurers retain ‘stable’ outlook
17 September 2012
Moody’s has given the US property and casualty insurance sector a stable outlook, with reserve releases and rate rises compensating for poor investment returns and “macro-economic weakness”…
Capital hits record levels as the industry gathers for annual talkfest
10 September 2012
On the eve of the annual Reinsurance Rendezvous in Monte Carlo, Aon Benfield has reported that reinsurance capital in the industry has hit record levels…
Swiss Re highlights increase in flood losses
10 September 2012
Insured losses from floods have increased from $US1-2 billion in 1970 to $US15 billion in 2011, according to a Swiss Re report…
UK to clamp down on sales incentives
10 September 2012
The UK Financial Services Authority has declared war on sales incentives – a move hailed by brokers…
Hurricanes see record year for insurance-linked securities
10 September 2012
US hurricane risks are behind the boom in insurance-linked securities, according to a report from Aon Benfield Securities…
Windstorms wreak havoc in August
10 September 2012
The US Gulf Coast suffered its first hurricane landfall since 2008 when Hurricane Isaac brought a 4.57-metre storm surge, inland flooding and powerful winds causing billions of dollars of damage last month…
AIG sells more of AIA
10 September 2012
AIG has sold almost 600 million AIA shares for $US2.02 billion ($1.94 billion)…
Lloyd’s appoints new global director
10 September 2012
Lloyd’s has appointed former Zurich CEO of Global Corporate Asia-Pacific Vincent Vandendael as Director, International Markets…
Dual rebrands in the Americas
10 September 2012
UK-based underwriter Dual says its US and Latin American businesses will adopt the Dual name from October 1…