US commercial premiums flat in Q4
22 March 2010
Heavy competition continued to keep US commercial insurance rates flat during the fourth quarter, according to global financial services firm Towers Watson…
International
UK backs down on dog attack cover
22 March 2010
British dog owners have been spared the prospect of compulsory third party insurance covering attacks by their animals…
AIG unloads life insurance to MetLife
15 March 2010
The fire sale of AIG assets has accelerated with the divestment of the American insurer’s life arm for $US15.5 billion ($16.9 billion)…
UK declares a higher bar for industry
15 March 2010
Britain’s Chartered Insurance Institute has launched a project called the Aldermanbury Declaration, aimed at improving professional standards for general insurers…
Chile quake losses could top $11 billion
15 March 2010
Insured losses from the devastating Chilean earthquake are expected to reach between $US4-10 billion ($4.4-11 billion), according to reinsurers…
Xynthia claims set to reach $2 billion
15 March 2010
Powerful storms which lashed Europe last month will cost insurers around $2 billion in claims…
QBE Europe sees continuing soft market globally
15 March 2010
A global soft market continuing for the next 12-18 months is the outlook from QBE in Europe, according to a trade media report…
Potential buyers circle Kroll
15 March 2010
Marsh & McLennan has reportedly attracted a field of private equity buyers for its corporate investigations unit Kroll with a price tag of $US1.3 billion ($1.4 billion)…
Fortis slides as rebrand looms
15 March 2010
Belgian insurer Fortis has recorded annual net profit of €1.19 billion ($1.79 billion) as it rebounds to profitability after a perilous 2008…
US commercial rates maintain slide
15 March 2010
American commercial property and casualty rates continued to soften last month, with the electronic insurance exchange MarketScout saying there has been a 5% drop…
Canadian P&C insurers return to profitability
15 March 2010
Canadian property and casualty insurers have returned to profitability in 2009, with a survey of 39 firms revealing a collective underwriting profit of $C213 million ($227 million)…
Chile quake to rival LA for damages
08 March 2010
Insurance losses from the February 27 Chilean earthquake, which has killed nearly 1000 people and devastated the southern city of Concepcion, is poised to become the second most…
ING tries to buy time as QBE prowls
08 March 2010
QBE Group is said to be casting an acquisitive eye on the commercial insurance operations of Dutch company ING, but the sense of urgency for a sale may be softened by a reported elasticity…
Credit insurers must review practices: Coface
08 March 2010
The global financial crisis will force players in trade credit insurance to review their business models if they are to survive, according to leading trade credit insurer Coface…
Modest quarterly rise for Liberty Mutual
08 March 2010
American insurer Liberty Mutual has reported a 2% lift in net profit to $US456 million ($506.5 million) for the three months to December 31…
Berkshire underwriting profit falls
08 March 2010
US investment group Berkshire Hathaway has recorded a significant rise in total earned premiums from its insurance and reinsurance operations during 2009, but saw its underwriting profit plunge…
Savage windstorm batters Europe
08 March 2010
Damage from winter storm Xynthia, which devastated parts of France, Belgium, Germany and the Netherlands last week, will cost insurers up to €3 billion ($4.5 billion), according to risk modeller…
AIG reports another big loss
01 March 2010
AIG has indicated it may need more US Government aid to stay afloat after reporting an annual loss of $US10.9 billion ($12.1 billion)…
Chartis narrows loss in fourth quarter
01 March 2010
AIG’s rebranded general insurance division Chartis made a $US1.6 billion ($1.8 billion) pre-tax loss for the three months to December 31…
Allianz profit surges to $6.6 billion
01 March 2010
The Asia-Pacific operations of Allianz were among the property and casualty standouts as the German insurer reported a full-year net profit of €4.29 billion ($6.55 billion)…