WR Berkley posts 2010 profit lift
07 February 2011
US speciality insurer WR Berkley has reported a steep rise in profitability in 2010, despite tough market conditions and a modest increase in gross written premium…
International
Aon posts profit jump from broking
07 February 2011
Global broking giant Aon has reported a 33% increase in annual net profit from its insurance and reinsurance broking operations…
Gallagher posts strong 2010 result
07 February 2011
Stocks in US broker Arthur J Gallagher reached a 52-week high last week after its 2010 results beat market estimates…
AIG sells Japanese life businesses
07 February 2011
AIG has finalised the sale of its Japanese life insurance subsidiaries, AIG Star and AIG Edison, to Prudential Financial…
China’s insurers lose billions to fraud
07 February 2011
More than 350 staff in two of China’s state-run insurance companies have been caught committing fraud to the tune of 3 billion yuan ($449.2 million)…
Catastrophe risk assessments ‘must continue’
31 January 2011
The number of catastrophic flood and earthquake events last year was the second-highest since 1980, highlighting the need for continued analysis of these weather-related events…
Political risks rising
31 January 2011
The world’s economic conditions are improving, but political risks are growing, according to Aon Risk Solutions…
UK brokers set their agenda
31 January 2011
The British Insurance Brokers’ Association has put helping customers, regulation and consumer protection, as well as driving change in the industry, as its campaign issues for 2011…
US commercial premiums still flat-lining
31 January 2011
The Risk and Insurance Management Society has found fourth-quarter 2010 renewal premiums for commercial property and casualty insurance flat compared to the corresponding period…
US insurers survive the storms
31 January 2011
Property and casualty insurers have performed better during 2010, but premium growth will remain a challenge this year, according to speakers at an Insurance Information Institute seminar…
Catastrophes triple
13 December 2010
Munich Re says risks related to climate change are rising dramatically, with natural catastrophe events tripling since 1980…
Flood insurance to run dry
13 December 2010
The UK Government’s £200 million ($320.6 million) cuts to flood defences could lead to the withdrawal of insurance for flood, according to leading brokers…
Lloyd’s calls for focus on underwriting discipline
13 December 2010
Lloyd’s strategic outlook for 2011-13 warns of more challenging times ahead, but says the key is to continue focusing on underwriting disciplines…
No silver lining for US property insurance
13 December 2010
Market predictions for the US property and casualty insurance sector are “unlikely” to change in 2011, according to Fitch Ratings…
Positive outlook faces uncertain economy
13 December 2010
Insurers could face a return to an uncertain economy next year despite predictions showing continued growth in all areas…
Complex deals to pay off AIG debt
13 December 2010
AIG has moved one step closer to removing US Government control by increasing its loan repayments to taxpayers…
Zurich takes axe to global costs
06 December 2010
Zurich Financial Services plans to cut its global costs by $US500 million ($505 million) over the next three years, with around 70% of the savings from its general insurance arm…
Catastrophic economic losses triple
06 December 2010
Rising losses from natural and man-made catastrophes have highlighted the need for prevention and post-disaster management, Swiss Re’s chief economist says has warned…
UK industry pinpointed for climate change talks
06 December 2010
The UK Government has highlighted a need for further talks with the insurance industry on climate change, saying it’s a vital key to tackling the problem…
Broker gets eight years for fraud
06 December 2010
A Canadian life insurance broker has been jailed for eight years for defrauding his clients of almost $C1.5 million ($1.5 million)…