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…
International
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…
Irish insurer placed in administration
12 April 2010
Irish insurer Quinn Insurance has been placed into administration following a High Court application by the Irish Financial Regulator…
Hurricane activity up in 2010
12 April 2010
Hurricane activity in the Atlantic basin is predicted to be above average this season, according to researchers from Colorado State University…
Lloyd’s doubles profit in record year
29 March 2010
Lloyd’s has ridden the crest of a resurgent global economy to post a record profit of £3.8 billion ($6.2 billion)…
Marsh bans contingent commissions
29 March 2010
Global broker Marsh has announced it will not accept contingent commissions within its core US broking business, despite a ruling that allows it to do so…
Greenberg agrees to sell most AIG shares
29 March 2010
Former AIG Chairman and CEO Maurice Greenberg has agreed to sell most of the AIG shares under his control in a deal worth at least $US278.2 million ($303.1 million…
Insurance market nears $5.5 trillion in 2010
29 March 2010
Global insurance premiums will top nearly $US5 trillion ($5.5 trillion) this year, driven by emerging economies in Asia and stabilising western markets…
AIG executive quits on pay caps
29 March 2010
Pay caps imposed by the US Government on America’s top companies are not causing an exodus of staff, the US Treasury says…
UK insurance sector gets ratings upgrade
29 March 2010
Ratings agency Fitch has upgraded the UK general insurance market’s position…
Claims review may save UK industry billions
29 March 2010
Inefficient claims processes are costing UK insurers more than £1 billion ($1.6 billion) each year, new research suggests…
Global reinsurance market ‘in good shape’
29 March 2010
The global reinsurance market has returned to its peak following a dramatic increase in insurer and reinsurer capital, according to Aon Benfield…
Disasters wreak $68 billion in havoc in 2009
22 March 2010
Natural catastrophes and man-made disasters cost a total of $US62 billion ($68 billion) during a relatively benign 2009, according to Swiss Re…
Stress tests reveal European insurers in good shape
22 March 2010
European insurers have proved they are strong enough to withstand a serious financial crisis, a regional supervisory group has announced following recent stress testing…
Reinsurer share sale raises nearly $500 million for AIG
22 March 2010
AIG has grossed about $US452 million ($492.3 million) from a further sell-down of its stake in reinsurer Transatlantic Holdings…
US federal regulation in the spotlight again
22 March 2010
Federal regulation of the US insurance industry is looming ever closer following proposed legislation released last week…