Rates continue to decline in UK, say risk managers
14 June 2011
A survey of 135 UK-based risk managers has found that commercial property and business interruption rates in the UK are continuing to fall…
International
UK supermarket car insurance war heats up
14 June 2011
UK supermarket giant Sainsbury’s has relaunched its car insurance offering in a bid to take on its main rival, Tesco…
Fraud investigators call for arms
14 June 2011
Louisiana insurance fraud investigators may carry guns in future following the slaying of two investigators last week…
Lloyd’s rejects Jacko payout
14 June 2011
Lloyd’s has asked a Californian court to nullify a contingent non-appearance and cancellation policy taken out by Michael Jackson’s tour promoters AEG Live…
Australian banker to chair Aviva
14 June 2011
Former ANZ Bank CEO John McFarlane has been touted as the next chairman of British insurance giant Aviva…
Regulation is global insurance industry’s top fear
06 June 2011
Insurers around the world have nominated regulation as the top risk for the industry, in a survey from the London-based Centre for the Study of Financial Innovation and PricewaterhouseCoopers…
US P&C market remains soft
06 June 2011
Rates are still falling in the US property and casualty market, despite indicators supporting a market turn, according to the market barometer compiled by Dallas-based insurance exchange MarketScout…
US reinsurers take combined ratio hit
06 June 2011
The first quarter of 2011 saw the combined ratio of a group of 19 US property and casualty reinsurers blow out to 129.3%, compared to 102.2% for the same period last year…
Swiss Re grows UK life business
06 June 2011
Swiss Re is to buy about 300,000 UK life insurance policies from American Life Insurance…
Axa sells Canadian business as exodus from developed markets continues
06 June 2011
French insurer Axa has sold its Canadian business for $C2.6 billion ($2.5 billion) to Canada’s biggest property and casualty insurer, Intact Financial…
Premiums continue to fall in aerospace market
06 June 2011
Asia Pacific aerospace lead premiums fell about 6% in 2010, according to Aon’s latest aerospace market outlook…
US enduring a record tornado season
30 May 2011
The latest run of US tornados could cost insurers between $US1 billion ($943 million) and $US3 billion ($2.83 billion), according to modelling firm Eqecat…
Price set for AIG share sale
30 May 2011
The price for the US Government’s sale of shares in AIG has been set at $US29 ($27.39) per share, marginally above the Government’s break-even price of $US28.73 ($27.13)…
Xchanging streamlines UK businesses
30 May 2011
Xchanging has merged its UK insurance businesses into one group to be called Xchanging Insurance Sector…
Top CEOs fear insurers will pay for bankers’ mistakes
30 May 2011
The world’s top insurance CEOs believe insurers will be caught up in measures to prevent another global financial crisis, raising costs for companies and their clients…
Iceland’s ash cloud threatens travel insurers again
30 May 2011
European flights have returned to normal after the latest Icelandic volcano eruption last week sent a column of ash high into the atmosphere over northern Europe…
Bermuda insurers performing ahead of tough time
23 May 2011
Bermuda-based insurers and reinsurers have recorded “better than expected” operating results in the past year, according to an annual Deloitte-Standard & Poor’s survey…
UK to change consumer disclosure
23 May 2011
The UK Parliament has introduced a new bill setting out what consumers should tell their insurer before taking out a policy…
WR Berkley forms UK reinsurance arm
23 May 2011
US insurer WR Berkley has launched a London-based casualty and property treaty reinsurer, Berkley Re UK Limited…
Lloyd’s joins the rate rise chorus
23 May 2011
Lloyd’s CEO Richard Ward has issued a warning to the insurance market that the next big natural catastrophe will be a capital rather than earnings event, unless there are “significant” rate rises…