US market softer in November
14 December 2009
US property and casualty insurance rates dropped an average 5% last month compared with those of a year earlier, according to electronic insurance exchange MarketScout…
International
Aon Risk Services appoints Asia boss
14 December 2009
Sandeep Malik has been appointed in the new role of Asia Aon Risk Services CEO, based in Hong Kong…
AIG to cut debt by $US25 billion
07 December 2009
Rescued insurance giant AIG has moved to cut its debt to the US Government by $US25 billion ($27 billion) through two debt-for-equity swap transactions with the Federal Reserve…
Swiss Re: cat bill $57 billion
07 December 2009
Catastrophes are projected to cause economic losses of $US52 billion ($57 billion) this year as a benign US hurricane season helped to restrain total costs…
US hurricane season calmest in 12 years
07 December 2009
This year’s official US hurricane season has emerged as the calmest in 12 years, with only three hurricanes forming from the nine named storms that developed in the Atlantic…
Positive outlook for insurance in 2010: Swiss Re
07 December 2009
Swiss Re has predicted generally positive growth for the global insurance industry next year as balance sheets strengthen on the back of rising profitability…
Stellar year for space insurance market
07 December 2009
Space insurers are forecast to earn profits of around $US400 million ($436 million) this year should favourable conditions continue, according to Aon subsidiary International Space Brokers…
Margins improve for US reinsurers
07 December 2009
US property and casualty reinsurers have recorded a combined ratio of 95.1% for the first nine months of the year, as margins improved from 104.2% for the same period last year…
Insurance bills a priority in UK
07 December 2009
Almost half of UK consumers consider payment of their insurance premiums are a top priority, according to an online survey…
QBE sued in US hurricane claims case
30 November 2009
QBE is involved in a $US500 million ($551 million) US court case that alleges the insurer acted deceptively and in bad faith in its handling of Florida hurricane claims…
AIG and Greenberg settle legal differences
30 November 2009
The legal stoush between AIG and former executives Maurice “Hank” Greenberg and Howard Smith has been resolved, with all parties agreeing to a settlement…
Claims flow in after UK floods
30 November 2009
British insurers expect to part with at least £100 million ($181 million) after floods in parts of England and Scotland, according to the Association of British Insurers…
Allianz/WWF report warns on climate change
30 November 2009
Global warming could trigger “tipping points” which result in the world’s diverse regions and ecosystems suffering devastating environmental, social and economic changes…
Notes issue goes through despite swine flu publicity
30 November 2009
Swiss Re says media focus on swine flu has not threatened its successful placement of a $US75 million ($83.2 million) notes issue for extreme mortality risk in the US and UK…
Reinsurer finally settles WTC dispute
23 November 2009
More than eight years after the World Trade Centre disaster, French reinsurer Scor has finally agreed to settle a dispute with Allianz over its 2007 settlement with…
Floods swamp UK
23 November 2009
Torrential rain has sent heavy floodwaters across northwest England and Ireland, washing out road bridges and surging through urban streets and homes…
Airline premiums soar
23 November 2009
Airline hull and liability premiums have soared by 20% and more during October and November placements, according to global broker Aon…
Major brokers co-operate on Lloyd’s project
23 November 2009
The Lloyd’s Exchange project has received a shot in the arm after global brokers Aon, Marsh and Willis agreed to try out the system…
Willis: marine market still in the doldrums
23 November 2009
Marine underwriters are facing strong headwinds as declining trade, lower investment returns and spreading piracy remain prevalent…
US marine underwriters becalmed by slow growth
23 November 2009
Marine underwriters in the US are facing special challenges from slow economic growth and minimal interest rates…