Ex-IAG UK CEO one of the UK’s wealthiest people
16 May 2011
Former IAG UK CEO Neil Utley has made his debut on the Sunday Times Rich List of the Top 1000 wealthiest people in the UK…
International
Worries old and new feature in business risk survey
09 May 2011
The global economic slowdown has again topped the list of the greatest concerns to business leaders in Aon’s 2011 Global Risk Management Survey…
US tornado losses in Alabama ‘worse than Katrina’
09 May 2011
Insured losses from the tornados which devastated property across six southern US states will be between $US2 billion ($1.86 billion) and $US5 billion ($4.65 billion), according to risk modeller…
US commercial rates remain soft but may be levelling out
09 May 2011
The US Council of Insurance Agents and Brokers says signs are emerging that the softening of the US commercial insurance market may be levelling out, according to first-quarter renewals figures…
Global brokers post positive first quarter
09 May 2011
Global brokers Marsh and Willis have achieved growth in income for the first quarter of 2011, despite the continuing soft insurance market…
AIG profit slumps on bailout costs, catastrophes
09 May 2011
AIG has reported a first-quarter profit of $US269 million ($250 million), down 85%, after catastrophe losses and a $US3.3 billion ($3 billion) pre-tax charge relating to the US Government rescue…
Catastrophe losses eat into insurers’ first-quarter profits
09 May 2011
Zurich’s net income fell 32% to $US637 million ($593 million) for the first quarter, with natural catastrophes and the slow economic recovery in the US and Europe affecting profits…
Cats hit reinsurers’ first-quarter results
09 May 2011
The worst quarter of natural catastrophes on record has hit the bottom line of the reinsurance industry with a mixed bag of first-quarter results…
Negative ratings for reinsurers possible, says AM Best
09 May 2011
AM Best will maintain its ratings on reinsurers at present, but has warned there are a number of potential factors that could result in negative reappraisals…
Japanese insurers update earthquake figures
09 May 2011
Insurer members of the General Insurance Association of Japan have paid out ¥185,978 million ($2.15 billion) on almost 125,000 dwelling claims relating to the March 11 earthquake…
Tokio Marine warns of profit downgrade
09 May 2011
Global insurer Tokio Marine is the latest to announce a projected drop in profit following the Japan and Christchurch earthquakes…
Lloyd’s names new chairman
02 May 2011
UK financial services executive John Nelson will join Lloyd’s in October as its new chairman, bringing to an end the long reign of Lord Levene…
Tornadoes bill in billions – and they’ve only just begun
02 May 2011
Last week’s devastating tornadoes in the US are expected to cost insurers $US2 billion-$US5 billion ($1.8-$4.5 billion), with Eqecat warning that the tornado season has only just begun…
Insurers and brokers at odds over rate rises
02 May 2011
Major brokers are continuing to pour water on the prospect of a global hardening market, with Marsh the latest to dismiss suggestions of rate rises in its latest market update…
No tipping point in US premiums
02 May 2011
Global disasters have not made an impact on US commercial lines as strong capacity continues to fuel across-the-board premium falls, according to the Risk and Insurance Management Society…
US insurers’ 2010 profits up, but underwriting remains soft
02 May 2011
The combined profit of US private property and casualty insurers rose last year despite a soft underwriting market…
Global brokers see business improving despite tough times
02 May 2011
Several global brokers have expressed confidence in their ability to continue growing after a challenging first quarter…
Insurers see market turning despite first-quarter catastrophes
02 May 2011
Smaller global insurers are reporting a mixed first quarter, with Australian and New Zealand natural catastrophes leading to significant claims…
Disasters buffet Berkshire Hathaway
02 May 2011
Losses from the Japan earthquake cost Berkshire Hathaway more than $US1 billion ($912 million) in the first quarter, with Chairman Warren Buffett telling the company’s annual shareholder meeting…
Reinsurers’ capital remains strong despite catastrophes
02 May 2011
The amount of capital held by reinsurers hit record highs at the end of 2010, according to reinsurance broker Aon Benfield…