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…
International
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…
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…
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…