Japan’s earthquake and tsunami: low exposure for nuclear plant insurers
21 March 2011
Claims from the damage to Japan’s Fukushima Dai-ichi and Fukushima Dai-ni nuclear power plants are expected to be small…
International
Reform a must for NFIP
21 March 2011
US insurance leaders have welcomed the introduction of revised legislation on the National Flood Insurance Program, saying reform is vital for its survival…
Brokers back ‘spy’ technology to help solve motor crisis
21 March 2011
The British Insurance Brokers’ Association has backed the use of black box technology to help reduce the cost of motor cover in the UK…
US gets its first insurance supremo
21 March 2011
Micheal McRaith, the Illinois Director for the Department of Insurance, has been appointed as the inaugural Director of the US Treasury’s newly created Federal Insurance Office…
Aviva set to sell RAC: reports
21 March 2011
No 1 UK insurer Aviva is preparing to sell its underperforming RAC business when the market improves, according to reports…
Penny pinching on insurance puts UK firms at risk
21 March 2011
UK businesses are sacrificing quality for low cost in buying insurance, according to a study of insurance-buyers, insurers and brokers…
Japan earthquake: record claims looming
14 March 2011
The massive earthquake and tsunami that hit the northern coast of Japan on Friday could prove to be the most costly natural disaster in history…
ABI names new chief
14 March 2011
UK insurance executive Otto Thoresen has been appointed the new Director-General of the Association of British Insurers…
No end to US soft market
14 March 2011
US property and casualty rates remain “stuck” at -5%, perpetuating the continuation of the soft market…
AIG repays $7 billion
14 March 2011
AIG has reduced its debt to the US Treasury by $US6.9 billion ($6.8 billion) following settlement of its life insurance assets…
Hannover Re profits despite leap in claims
14 March 2011
Hannover Re has increased its gross written premium by 11.2% to €11.4 billion ($15.73 billion) in 2010 and expects premium growth of up to 3% this year…
Scor Re increases profit on diversification
14 March 2011
French reinsurer Scor Re says its lift in gross written premium by 4.9% to €6.69 billion ($9.22 billion) in 2010 is the result of its strategy of significant business and geographical diversification…
Don’t rate elderly solely on age: UK report
14 March 2011
A planned UK referral service to help older customers obtain correct levels of cover says a person’s age should not be the sole measure of a risk…
EU outlaws gender-based risk rating
07 March 2011
The European Court of Justice has ruled that Europe’s insurers will no longer be able to use gender as a determinant when underwriting from December 2012…
South America, Asia star for JLT
07 March 2011
UK-based global broker Jardine Lloyd Thompson has recorded a £20 million ($32 million) rise in after-tax profit for 2010 to £90.7 million ($145.5 million)…
S&P cuts Chartis rating
07 March 2011
Standard & Poor’s has cut its counterparty credit and financial strength ratings on AIG subsidiary Chartis from A+ to A after Chartis reported a fourth-quarter loss of $US4 billion ($3.94 billion)…
Flagstone Re releases flood and Yasi loss figures
07 March 2011
Bermuda-based reinsurer Flagstone Re says it has recorded losses of $US60 million to $US80 million ($59 million to $79 million) as a result of its exposure to the flooding in Queensland and…
Rough ride ahead for US flood program
07 March 2011
A bill to overhaul the US National Flood Insurance Program will be introduced into the US House of Representatives this week…
Strong growth for Allianz Australia business
28 February 2011
Allianz’s Australian general insurance business has reported an 11.4% increase in revenue to €2.1 billion ($2.8 billion) for the 12 months ending December 31 2010…
AIG reports loss after reserve strengthening
28 February 2011
AIG has reported an after-tax loss of $US2.2 billion ($2.16 billion) for the quarter to December 31 and a full-year loss of $US898 million ($885 million) after increasing reserves…