US risk managers urged to shun contingent-takers
03 May 2010
US risk managers are being urged by the Risk and Insurance Management Society to avoid contingent commission-based pay arrangements with brokers…
International
Insurers slam IMF tax proposal
27 April 2010
A confidential document leaked last week has revealed a proposal by the International Monetary Fund to impose a tax on banks to fund future bailouts…
2009 a record year for airline claims
27 April 2010
Airline insurers have endured the most expensive claims year in recent history, with figures from global broker Aon revealing total claims of about $US2.3 billion ($2.5 billion)…
US car insurers chase Toyota over losses
27 April 2010
US car insurers are lining up to pursue manufacturing giant Toyota Motor Corporation over claims associated with defective models…
Judge says case against Greenberg ‘devastating’
27 April 2010
Former AIG CEO Maurice Greenberg may struggle in his bid to have a civil suit dismissed after the presiding judge outlined the prosecution’s “devastating” case against him…
Competition keeps US rates low
27 April 2010
Fierce competition among US property and casualty insurers continued to keep premium rates low during the first quarter…
AJG strong in ‘trying times’
27 April 2010
Arthur J Gallagher has posted first-quarter revenues of $US482.4 million ($520 million), up 20% on the corresponding quarter last year…
WR Berkley turns around Q1 results
27 April 2010
US insurance giant WR Berkley Corporation has returned to first-quarter form with a profit of $US119 million ($129 million), against a loss of $US20 million ($22 million)…
Chubb boosts first-quarter earnings
27 April 2010
US-based insurer Chubb has posted a 26% rise in net income in the first quarter of 2010 to $US464 million ($500 million), despite rising catastrophe claims…
China quake claims remain unclear
27 April 2010
The potential cost of insurance claims from the recent earthquake in China remains unclear as insurers move quickly to assess the damage…
US insurers stage a comeback
19 April 2010
US property and casualty insurers staged a comeback last year as lower claims and improving investment returns provided a shot in the arm for the industry…
Greenberg looks to end US civil suit
19 April 2010
Former AIG Chairman and CEO Maurice Greenberg is once again embroiled in legal action, with the octogenarian insurance legend calling on the New York State Supreme Court…
‘Rented’ captives for mid-tiers launched
19 April 2010
Mid-tier companies will soon have the option of retaining more risk through a unique form of rented captive insurance…
China quake damage unlikely to be insured
19 April 2010
Despite the devastating damage caused by a 7.1-magnitude earthquake in western China last week, previous experience suggests insured losses will be low…
Relief in sight for British trade credit insurers
19 April 2010
Having been slammed with a 95% increase in the amount paid out in trade credit claims in 2009, things are beginning to look up for British insurers…
Broker forecasts cat bond market growth
19 April 2010
Reinsurance broker Guy Carpenter has maintained a bullish outlook for the catastrophe bond market this year, despite a first quarter that was weaker than anticipated…
Global nat cat losses worst on record
12 April 2010
Severe hailstorms in Perth and Melbourne have contributed to the costliest first-quarter natural catastrophe losses on record, according to Willis Re…
Cautious outlook for European insurers
12 April 2010
Weak economic growth and restrictive regulations are expected to limit continued growth among European insurers, despite an improved performance last year…
AIG on track to repay US Government
12 April 2010
AIG CEO Robert Benmosche claims the insurer is on track to repay US Government debt within the next few years, following the sale of major insurance assets…
Arthur J Gallagher buys out UK broker
12 April 2010
Broker Arthur J Gallagher UK has completed the takeover of Lloyd’s reinsurance broker FirstCity Partnership…