Willis quits Bermuda for Ireland
28 September 2009
Global insurance broker Willis will ask shareholders to approve a move from Bermuda to Ireland as the company’s place of incorporation…
International
Trade credit claims fall
28 September 2009
UK trade credit insurance claims have fallen for the first time in a year, according to the Association of British Insurers…
Downturn stifles marine rates
21 September 2009
Australia is feeling its share of the pain in the global commercial marine insurance market as the economic downturn squeezes demand and keeps a lid on rates…
Costs of climate change avoidable
21 September 2009
Climate risks could cost some countries up to 19% of their GDP by 2030, a report by a panel of international insurers, banks and consultants has revealed…
UK insurers call for competitive boost
21 September 2009
Some UK-based insurance companies are likely to move abroad unless the Government enables them to be more internationally competitive, a survey of senior industry manager…
Gen Re exec fined over bogus reinsurance deal
21 September 2009
A US court has placed former Gen Re executive Richard Napier on two years’ probation and imposed a $US10,000 ($11,449) fine for helping AIG artificially inflate its financial position in 2000…
Australian bushfires to push up reinsurance rates
14 September 2009
Australia’s severe bushfire losses will push local reinsurance rates up more than 10% in the January renewals, according to Hannover Re…
Reinsurers form global trade association
14 September 2009
Eleven major reinsurers have joined forces to launch an association to be known as the Global Reinsurance Forum…
D&O rates climb in US and UK financial sectors
14 September 2009
Directors’ and officers’ insurance rates have increased by an average of 15% in the US financial sector, according to Aon…
Zurich climate report points the way forward
14 September 2009
A Zurich Financial Services report on climate change identifies a key role for insurers in dealing with the “exceptional complexity” of climate risk…
Bogus claims on the rise in the US
14 September 2009
Suspicious insurance claims in the US rose 13% in the first half of this year compared with a year ago, with increases in nearly all referral categories…
US rate reductions slow during August
14 September 2009
The price war among the US property and casualty market appears to be losing intensity after rate reductions slowed during August…
Ratings agencies face scrutiny over insurer assessments
14 September 2009
The US National Association of Insurance Commissioners will hold a public hearing next week to examine the role ratings agencies played in assessing insurers’ creditworthiness…
Global industry outlook still negative
07 September 2009
The global insurance industry is unlikely to improve enough in the near future for a revision from its negative outlook, according to Fitch Ratings…
Judge sides with Greenberg in AIG case
07 September 2009
The frosty relationship between AIG and its former CEO Maurice “Hank” Greenberg could be set to thaw, with the two parties launching binding arbitration procedures to settle various legal disputes…
UK claims complaints on the rise
07 September 2009
UK regulator the Financial Services Authority has released fresh statistics that show complaints about general insurance products have more than doubled in the space of two years…
Reserve releases mask true UK motor loss
07 September 2009
The £493 million ($960 million) underwriting loss reported for last year by the UK private motor insurance industry is more like £1 billion ($1.95 billion), a new report from consultants…
Ecclesiastical turns loss around
07 September 2009
The British owner of Australia’s Ansvar Insurance turned loss into profit in the first half of this year…
Coface loss highlights credit crisis exposure
07 September 2009
Paris-based global trade credit insurer Coface has recorded a €103 million ($173 million) first-half loss…
Californian bushfires set new records
07 September 2009
Bushfires raging in California have been described as some of the biggest in the state’s history…