AIG in $100 million bonus outrage
08 February 2010
US legislators are furious over a fresh round of bonuses for AIG staff directly involved in the insurer’s downfall…
International
Insurance fraud on the rise
08 February 2010
Dodgy insurance claims continue to rise on both sides of the Atlantic as tougher economic times in Europe and the US provide the incentive…
UK SMEs shun brokers
08 February 2010
About 10% of UK businesses would skip dealing with intermediaries to buy their insurance direct, according to a new report…
Haiti losses mount to ‘billions’
01 February 2010
Reconstructing the shattered island nation of Haiti will cost billions of dollars, and only a fraction of those funds will come from insurance payouts…
Credit crunch over, says trade insurer
01 February 2010
Trade credit insurer Coface has declared an end to the global credit crunch after assigning upgrades to 20 countries in its latest analysis of global risk…
Rates mostly fall in reinsurance renewals
01 February 2010
January 1 reinsurance renewals saw lower rates across most property catastrophe lines, according to broker Guy Carpenter in its latest annual briefing…
Gen Re settles over sham transactions
01 February 2010
General Re will pay $US92.2 million ($103 million) in settlements for its part in transactions with AIG and Prudential Financial, some dating back to 1997, that allegedly defrauded…
AIG puts big life unit on the block
01 February 2010
AIG is reportedly in the process of selling American Life Insurance Co, one of its biggest life insurance divisions, to New-York based rival MetLife for between $US14-15 billion…
British insurers to appeal asbestos ruling
01 February 2010
British insurers have launched an appeal against a Scottish court ruling that threatens to expose them to a raft of asbestos liabilities…
D&O exclusion invalid: US court
01 February 2010
A group of US executives charged with fraud will have legal costs covered by their directors’ and officers’ insurer after previously being told their policy would not be honoured…
International regulators agree on group supervision
01 February 2010
The International Association of Insurance Supervisors has set the wheels in motion for a global framework intended to improve supervision of international insurance groups…
Bermuda loses another insurer
01 February 2010
XL Capital has joined a flight of insurers from Bermuda seeking safer pastures on the European continent…
Cat losses fall in 2009
01 February 2010
Benign weather conditions in the North Atlantic and the arrival of the El Nino phenomenon have contributed to a below average loss season for insurers…
Willis boss outlines new risks for a new decade
14 December 2009
Willis Group CEO Joe Plumeri has outlined the “new and complex” risks facing international business in the next decade…
Allianz looks to buoyant Asia for growth
14 December 2009
German insurer Allianz SE has identified Asia as a key growth market next year, with regional gross domestic product expected to contribute nearly 40% of growth…
New UK tax ruffles brokers’ feathers
14 December 2009
A surprise tax change by the UK Government has riled British insurance brokers…
Post-crisis industry will see new winners, losers: report
14 December 2009
The insurance industry landscape emerging from the global financial crisis will have a new balance of power, according to a new international report by professional services giant…
US lawmakers agree to insurance regulator
14 December 2009
The US House of Representatives has passed a bill to establish the Federal Insurance Office…
Willis move endorsed
14 December 2009
Willis Group shareholders last week approved changing the company’s place of incorporation from Bermuda to Ireland…
AIG retention bonuses get the green light
14 December 2009
Insurer AIG has been cleared to pay retention bonuses to senior executives after their ongoing service was deemed critical to the future success of the company…