UK insurers applaud civil litigation reform
28 February 2011
Proposals to reform Britain’s complex civil litigation system have received an overwhelming vote of confidence from the Association of British Insurers…
International
Captives boom in Bermuda
28 February 2011
The amount of business written by Bermuda-based captive insurers rose sharply in 2010, despite a fall in overall gross written premium n the domicile…
RBS insurance division struggles
28 February 2011
Royal Bank of Scotland’s insurance arms continues to struggle, with premium income down 3% to £4 billion ($6.3 billion) for the 2010 financial year ending December 31…
Gallagher tipped to buy Heath Lambert UK
28 February 2011
UK broker Arthur J Gallagher International is in talks to buy local rival Heath Lambert, according to sources close to the companies…
Berkshire Hathaway increases insurance profit
28 February 2011
Berkshire Hathaway’s insurance operations have provided a $US66 billion ($65 billion) float to fund the group’s other investments, according to Chairman Warren Buffett…
AIG may help end soft market: Berkley
21 February 2011
US insurance industry heavyweight Bill Berkley believes AIG will raise rates at its rebranded property and casualty insurer Chartis in a move which could help turn the soft market around…
US flood scheme struggling
21 February 2011
The US National Flood Insurance Program continues to face a massive deficit bill adding to growing concerns over its future management…
Swiss Re boosts balance sheet
21 February 2011
Swiss Re has almost doubled its profit with a $US863 million ($853.2 million) return for the 2010 calendar year…
Marsh posts strong 2010 and quarterly results
21 February 2011
Marsh & McLennan Companies has posted a strong return for 2010, recording a 7% increase on the previous year’s result to $US10.6 billion ($10.4 billion)…
FSA works on right solvency model for insurers
21 February 2011
The UK Financial Services Authority says the calibration model it intends to use to check that insurers meet the Solvency II requirements will be crucial…
Flood defences under pressure
21 February 2011
The UK’s flood funding crisis could see insurance cover completely dry up following continued government funding cuts to the struggling scheme…
UK brokers angered by review delay
21 February 2011
UK brokers are up in arms over a decision by the Financial Services Authority to delay its review into the way the Financial Services Compensation Scheme is funded…
Aon positioned for global growth
21 February 2011
Aon is pursuing opportunities to grow on the coat-tails of its clients as they globalise, President and CEO Greg Case says…
Disasters hit Zurich’s general insurance business
14 February 2011
Zurich’s global general insurance business suffered a 23% slump in profits to $US2.7 billion ($2.69 billion) for the year ending December 31…
EU ruling could end gender-based premiums
14 February 2011
The Association of British Insurers has warned its members to prepare for a ban on premium price differentiation based on gender…
US winter storm losses top $US790 million
14 February 2011
The winter storm in the US over February 1 and 2 is estimated to cost insurers between $US790 million ($787 million) and $US1.4 billion ($1.39 billion) according to Boston-based catastrophe…
UK cold snap leads to highest freeze payout
14 February 2011
New figures released by the UK’s Association of British Insurers show December’s freezing conditions cost insurers more than £1.4 billion ($2.24 billion)…
Chartis strengthens loss reserves
14 February 2011
AIG has announced its intention to add $US4.1 billion ($4.09 billion) to the reserves of its property and casualty insurer Chartis…
Willis announces profit and operational review
14 February 2011
Global broker Willis is reviewing its operations after announcing a net income rise of 4% to $US455 million ($453 million) for the year to December 31…
Quakes dent Axis result
14 February 2011
The earthquakes in NZ and Chile last year have dented reinsurance income for Bermuda-based Axis Capital Holdings…