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…
International
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…
Aon CEO extends contract
23 November 2009
Aon has announced it has extended the contract of President and CEO Gregory Case by five years to 2015…
AIG ‘likely to repay US Government’
16 November 2009
AIG has achieved “tangible progress” in its restructuring and is on track to pay back its massive US Government rescue package, according to Moody’s Investors Service…
Bermuda insurers face challenges
16 November 2009
Bermuda’s insurers and reinsurers are facing significant pressures ranging from soft pricing to proposed US legislative initiatives that could curtail their activities…
JLT on target
16 November 2009
Jardine Lloyd Thompson Group says it remains on target to achieve its financial objectives for the year after third-quarter trading fell in line with expectations…
Financial upturn lifts ING in third quarter
16 November 2009
Financial market improvement in the third quarter has turned things around for rescued Dutch bancassurer ING…
MMC pays $465 million to settle legal action
16 November 2009
Marsh & McLennan has reached a $US435 million ($465 million) settlement over securities and other class actions filed against the global broker in 2004…
MMC back in black
09 November 2009
Third-quarter results for the global Marsh & McLennan group are more positive than last year, with the company reporting a net profit of $US221 million ($243 million)…
AIG records second straight profit
09 November 2009
Insurance giant AIG has posted its second straight quarterly profit, helped by a recovery in the value of its investments…
Munich Re posts $1 billion profit
09 November 2009
Munich Re has banked a third-quarter net profit of €651 million ($1.06 billion) as the global reinsurer continues to bounce back from the global economic downturn…
Swiss Re recovering with $362 million profit
09 November 2009
Global reinsurer Swiss Re continues to recover from last year’s $1 billion loss with a third-quarter net profit of CHF334 million ($362 million)…
Zurich third-quarter profit soars
09 November 2009
Global insurer Zurich has reported third-quarter operating profit of $US1.5 billion ($1.65 billion), up 138% over the same quarter last year…
Berkshire Hathaway triples quarterly profit
09 November 2009
Giant US investment company Berkshire Hathaway has tripled its third-quarter profit to $US3.2 billion ($3.5 billion) due to lower insurance costs and higher revenue from financial products…
Third-quarter boost for Hannover Re
09 November 2009
German reinsurer Hannover Re staged a strong turnaround in the third quarter, booking a net profit of €159 million ($256 million) this year, compared with a net loss of €395 million…
Climate change to increase UK losses
09 November 2009
A 25% jump in average annual windstorm insurance losses for the UK by 2060 is among the projections in a new report on climate change commissioned by…