UK brokers warned to bolster finances
01 March 2010
The UK Financial Services Authority has written to British insurance brokers warning them to strengthen their finances in the face of a “challenging business environment”…
International
UK beefs up support for asbestos victims
01 March 2010
UK residents exposed to asbestos will be assisted in bringing claims against their insurer under a range of measures announced by the UK Ministry of Justice…
Emerging China must insure, says Munich Re
01 March 2010
Insurance will be key to the economic and social development of natural catastrophe prone China as the market opens up, Munich Re says in a new report…
Swine flu watch as alert remains
01 March 2010
H1N1 swine flu may have vanished from the headlines but the World Health Organisation is holding steady with its highest-level phase 6 alert that classes the illness…
RBS slow and steady on path to recovery
01 March 2010
The Royal Bank of Scotland is “exceeding all milestones” in a long restructure process while posting a net loss of £3.6 billion ($6.17 billion) for fiscal 2009…
Willis stands firm over commissions
22 February 2010
Insurance brokers in the US are once again free to accept payments from insurers for steering clients into their products…
British brokers critical of regulation fee hike
22 February 2010
The British Insurance Brokers Association has criticised as “totally disproportionate” a plan by the UK regulator to impose a 10% hike on fees paid by UK financial services firms…
Swiss Re Q4 profit rounds off better year
22 February 2010
Swiss Re stormed back into the black in the December quarter last year with a CHF403 million ($610.5 million) net profit compared with 2008’s net loss of CHF1.75 billion…
US winter storms damage bill rises
22 February 2010
Severe winter storms in the eastern US this month have generated insured losses of more than $US2 billion ($2.23 billion) in total, according to preliminary estimates…
Reinsurance treaties rally for Hannover Re
22 February 2010
Hannover Re expects to increase its general reinsurance book by 3.5% after a “satisfactory” renewals period…
New venture for insurance trailblazer
22 February 2010
Aon founder Patrick Ryan is turning back the clock on his illustrious career, announcing a new venture that will see the septuagenarian back in the insurance game…
ING reduces loss in fourth quarter
22 February 2010
The financial picture for rescued Dutch financial services giant ING is looking much less terrible than a year ago, but losses on investments and bad bank debts continue to take a toll…
MMC profits despite lawsuit settlement
15 February 2010
Marsh and McLennan Companies has posted a strong return to profitability despite settling a $US435 million ($US489 million) lawsuit with the US Government over contingency…
Aon profits in fourth-quarter reversal
15 February 2010
Global broker Aon has posted a net profit of $US198 million ($222 million) for the three months to December 31, a big improvement on a $US6 million ($6.7 million) loss…
Lloyd’s outlines three-year plan
15 February 2010
Lloyd’s has laid out its strategic blueprint for the next three years, with regulation, evolution and competition the key buzzwords…
New York introduces broker fee disclosure
15 February 2010
Insurance brokers in New York State will be forced to reveal their commission to clients under a new directive issued by the state regulator last week…
Axis banks capital return
15 February 2010
Axis Capital Holdings has lodged a 31% lift in full-year net income to $US461 million ($518 million) on improved investment returns and reduced reinsurance claims…
Investments, weather kinder to WR Berkley
15 February 2010
Better investment returns and weather has helped US insurer WR Berkley triple fourth-quarter net profit with earnings of $US134.2 million ($153.3 million), against $US40 million…
Investments drive fourth-quarter loss for XL Capital
15 February 2010
Investment losses have weighed on Bermuda-based insurer XL Capital in the three months to December 31, but a net loss of $US40.3 million ($45.4 million) is a vast…
Catlin posts record profit
15 February 2010
Specialist underwriter Catlin celebrated its silver anniversary with a record end of year result…