Chartis and Allianz post solid results
08 August 2011
The position of Chartis, the former AIG property and casualty business, continues to improve with the company posting an operating profit for the second quarter after a first-quarter loss…
International
UK brokers breathe again as complaints split
08 August 2011
The UK Financial Ombudsman Service will report complaints relating to payment protection insurance separately to general insurance complaints from September…
Tropical cyclones cause severe losses in Asia in July
08 August 2011
Tropical cyclones killed hundreds and caused billions of dollars in losses across Asia during July, according to research by Aon Benfield…
Gen Re and AIG executives win new trial
08 August 2011
Four former General Re executives and one former AIG executive have won a new trial over an allegedly fraudulent finite reinsurance deal transacted in 2000…
Profits fall as Xchanging rebuild continues
08 August 2011
Restructuring costs have hit outsourcing firm Xchanging as it continues to rebuild after a huge loss and impairment charges in 2010…
Insurers get guide on volcanoes, landslides and tsunamis
01 August 2011
With volcanic ash and tsunamis wreaking disruption and billion-dollar losses this year, the Aon Benfield UCL Hazard Centre has released a guide on the important characteristics that global…
Global brokers report mixed results
01 August 2011
JLT has reported a strong performance from its Australasian operations in the six months to June 30. It says Australia and New Zealand operations performed well “by increasing its focus on…
More insurers suffer from catastrophes
01 August 2011
Increased losses due to catastrophes have become the common thread as more insurers and reinsurers report their half-year figures…
Ace raises earnings forecast after positive second quarter
01 August 2011
Ace Insurance has lifted its full-year earnings forecast after a solid second-quarter performance…
Catastrophes send Liberty into the red
01 August 2011
More than $US1.2 billion ($1.08 billion) of catastrophe losses pushed Liberty Mutual into the red in the quarter to June 30…
Catastrophes hit reinsurers’ earnings
01 August 2011
US tornadoes sent RenaissanceRe into a loss in the second quarter while PartnerRe has warned of extra losses from the Christchurch earthquake…
Disasters cause Indian insurer’s first loss in 90 years
01 August 2011
Australian and Japanese natural disasters have pushed New India Assurance into a loss for the first time in its 90-year history…
Scor’s revenue down 75%
01 August 2011
French insurer Scor has reported a net income of €40 million ($52 million) for the six months ending June 30 after being hit with €423 million ($551 million) of claims from natural catastrophes…
Zurich defends its position on Sony hacking liability claim
01 August 2011
Zurich has filed a lawsuit against Sony Corporation in a bid to avoid paying the technology giant’s defence costs and indemnify it against a number of class actions it is facing over the…
Low yields and currency risk challenge Asian insurance growth
01 August 2011
Insurance company executives are eyeing the developing markets of Asia for future growth, but despite the bright outlook there are particular challenges for insurers entering the region…
Brokers dips toe into flood pool
25 July 2011
The Association of British Insurers is wading through a number of possibilities to fix the UK flood insurance crisis, including a pool option to ensure cover remains widely available for high-risk…
Axis counting the cost of disaster
25 July 2011
Axis Capital is estimating the Christchurch earthquake and tornadoes in the US earlier this year will cost it between $US90-105 million ($84-98 million)…
Atlantic hurricane season could tip markets, warns Marsh
25 July 2011
The Atlantic hurricane season, already expected to be worse than usual, could be the tipping point for property insurance markets, according to global broker Marsh…
Chubb sees better times ahead
25 July 2011
Tornadoes and storms in the US ate into Chubb’s profit in the second half of the 2010/11 financial year, but the group is seeing signs of healthier pricing in its standard commercial lines in…
UK regulator fines Willis for anti-corruption system failings
25 July 2011
The UK Financial Services Authority has fined Willis £6.895 million ($10.3 million) for failings in its anti-bribery and corruption systems and controls…