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…
International
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…
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…
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…