UK regulator hits insurers in the pocket
17 May 2010
General insurers and “pure protection providers” have paid more than half of the £284 million ($464 million) cost of compensating aggrieved financial sector consumers…
International
Insurers stuck with BP spill bill
10 May 2010
Insured losses from the oil spill enveloping the Gulf of Mexico are expected to reach $US1.5 billion ($1.65 billion) as British-based oil giant BP struggles to contain the ruptured well…
Insurers given breather on Solvency II
10 May 2010
European insurers are being granted two extra months to meet new Solvency II capital requirements…
Munich Re’s hopes of bumper year fade
10 May 2010
Munich Re has conceded its full-year profit target of €2 billion ($2.86 billion) is “increasingly ambitious” due to an unusually high frequency of natural catastrophes…
Swiss Re banks $178 million
10 May 2010
Swiss Re has banked a 22% increase in first-quarter net profit to $US158 million ($178 million), despite the effect of heavy catastrophe losses…
AIG back in the black
10 May 2010
Troubled US insurer AIG has returned to first-quarter profitability with net income of $US1.45 billion ($1.62 billion), reversing last year’s opening quarter loss of $US4.35 billion…
Soft market to continue in 2010, says broker
10 May 2010
The soft US insurance market will continue to favour buyers into 2010, allowing them to lower costs and improve coverage in a number of areas, according to global broker Willis…
Good first quarter for MMC
10 May 2010
Marsh and McLennan Companies achieved a strong increase in net income in the first quarter of this year, despite soft conditions in some markets…
XL capitalises on top first quarter
10 May 2010
XL Capital has rebounded from a flat 2009 to post a strong start to this year…
Allianz on track to record strong first quarter
10 May 2010
German insurer Allianz is set to top its 2009 first-quarter profit result, revealing operating profit of €1.7 billion ($2.4 billion) in the first three months of this year based on preliminary figures…
Aon launches space cover
10 May 2010
Specialist Aon business International Space Brokers has announced the launch of what it claims is the first policy strictly designed for space project investors…
Hannover Re Group positive despite losses
10 May 2010
Hannover Re Group has achieved a “satisfactory” net income of €157.2 million ($222 million) for the first quarter, despite significant natural catastrophe losses…
Munich Re predicts profitable year
03 May 2010
Natural catastrophe losses may have dented Munich Re’s first-quarter result, but the German reinsurer still predicts year-end profit will top €2 billion ($2.85 billion)…
Trade credit market recovering
03 May 2010
Global broker Marsh says the trade credit market is slowly recovering after a vicious downturn in 2009…
US storms cause extensive damage
03 May 2010
Severe storms and tornadoes have killed at least 12 people and damaged or destroyed more than 900 properties in the southern US states of Mississippi and Alabama…
Aon flat in first quarter
03 May 2010
Soft market conditions and a near halving in investment returns has seen US-based global broker Aon post a flat first-quarter revenue figure of $US1.9 billion ($2.05 billion)…
Profits ‘solid’ for Willis
03 May 2010
Global broker Willis has reported a sound first-quarter result with net income of $US204 million ($219 million), up from $US192 million ($206 million) reported for the same quarter…
Ace pushes profit up 33%
03 May 2010
Global insurer Ace Group has reported a 33% rise in first-quarter net profit of $US755 million ($817 million), despite heavy natural catastrophe losses that included the recent storms…
AIG ‘stable’, says US Government watchdog
03 May 2010
US insurer AIG is in a “relatively stable” condition due in part to improving property and casualty operations, according to a report by the US Government Accountability Office…
Gulf oil rig explosion covered for losses
03 May 2010
Owners of an oil rig that exploded last week in the Gulf of Mexico say they are fully covered by insurance…