Forgettable year for Crawford
15 February 2010
International claims management specialist Crawford & Company had a year to forget in 2009, reporting an annual loss of $US115.7 million ($130.2 million)…
International
Munich Re posts massive profit
08 February 2010
Munich Re has posted a 62% upswing in consolidated profit on “exceptionally low” catastrophe claims and improved investment returns…
UK firms forced to disclose complaints data
08 February 2010
UK financial services firms are being forced to disclose the number of disputes they handle under a plan to improve complaint-handling across the sector…
Ace has profit in spades
08 February 2010
Global insurer Ace has more than doubled its annual net profit to $US2.55 billion ($2.9 billion) due to increased underwriting income and a big fall in net realised losses…
Acquisition drives Willis profit forward 44%
08 February 2010
Global broker Willis has reported a 44% increase in net profit as the acquisition of US giant Hilb Regal and Hobbs continues to build company revenue…
Gallagher trims cost, adds profit
08 February 2010
No 5 global broker Arthur J Gallagher has increased annual net profit 66% to $US128.6 million ($145.9 million), using a series of cost-cutting measures to offset the soft market…
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…
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…