Pressure mounts over US broker disclosure
26 October 2009
Pressure is building on US insurance intermediaries to disclose all sources of broking revenue…
International
Japan typhoon to cost up to $1.5 billion
19 October 2009
This month’s Super Typhoon Melor will cost Japan between ¥75 billion and ¥130 billion (($893 million-$1.5 billion) in insured losses, according to risk modelling firm AIR Worldwide…
AIG sells Taiwan life subsidiary
19 October 2009
AIG has made its biggest single repayment yet to the US Government’s bailout, with the sale of Taiwan subsidiary Nan Shan Life for about $US2.15 billion ($2.37 billion)…
US broker consolidation set to continue
19 October 2009
The global economic recession will put only a temporary brake on consolidation in the US broker sector, according to a report by New York-based industry analysts Advisen…
Aerospace premiums continue to decline
19 October 2009
The aerospace insurance market is still soft, but experts now believe falling passenger numbers are the main cause…
RIMS wants broker commission disclosure
19 October 2009
The Risk & Insurance Management Society has turned up the heat on insurance brokers, calling for complete transparency and full disclosure of all broking revenue…
Report reveals growing demand for cat bonds
19 October 2009
A benign windstorm season has increased the appeal of catastrophe bonds to both sponsors and investors, with issued risk capital set to peak during the fourth quarter…
North American demand stays flat: survey
12 October 2009
A new survey of North American corporate risk managers shows insurers are continuing to renew property-casualty programs at “deeply depressed” rates…
Ebix acquires US software maker
12 October 2009
Insurance software supplier Ebix has acquired California-based software maker E-Z Data for $US50 million ($55 million)…
AIG CEO gets the nod for $12 million pay deal
12 October 2009
AIG President and CEO Robert Benmosche has won formal approval for a pay package worth up to $US10.5 million ($11.8 million)…
Allianz preys on AIG’s Asia business
12 October 2009
Allianz wants to expand in Asia and take business from AIG, according to the CEO of the German insurer’s Global Corporate and Specialty unit, Axel Theis…
Aviva targets US growth with New York listing
12 October 2009
British insurance giant Aviva is boosting its US presence with plans to list on the New York Stock Exchange from October 20…
US industry divided on national insurance office
12 October 2009
The US insurance industry has some divisions over the proposal for a new federal insurance office, with the National Association of Mutual Insurance Companies warning…
Trio agrees to merge into a Japanese giant
05 October 2009
Japan’s general insurance market has received a boost with the news that three leading insurers have finalised plans to merge…
US insurers’ profits plummet
05 October 2009
US property and casualty insurers have recorded a 59.3% drop in net income to $US5.8 billion ($6.6 billion) in the first half of this year compared to the corresponding period last year…
UK industry in good health despite recession
05 October 2009
The UK general insurance sector remains in good health in spite of the British recession, with net premium rising 3% last year to £34 billion ($62 billion)…
UK brokers take aim at regulatory reform
05 October 2009
Britain’s Institute of Insurance Brokers has spoken out strongly against proposed “well-intentioned reforms” that it says will burden brokers and other intermediaries with more regulation…
International business on the rise in Ireland
05 October 2009
A week after global broker Willis announced plans to shift its corporate HQ to Ireland, new figures show the country’s international re/insurance industry is going from strength to strength…
US a step closer to federal regulation
05 October 2009
The US has moved a step closer to federal regulation of insurance with the release of draft legislation proposing a federal insurance office within the US Treasury…
Munich Re resumes buy-back scheme
05 October 2009
Stabilising economic conditions have allowed reinsurance giant Munich Re to resume its suspended share buy-back program with a €1 billion ($1.7 billion) offer…