Competition prevails in offshore energy market
07 September 2009
A forecast 15-20% rise in offshore energy insurance rates has failed to materialise, and October renewals should stay generally flat, according to Aon…
International
Reinsurer wants national risk officers
07 September 2009
Global reinsurer Swiss Re has urged governments to appoint “national risk officers” to help close the gap between economic and insured losses when disaster strikes…
Marine market tested as piracy doubles
31 August 2009
Piracy attacks have more than doubled, creating headaches for marine insurers…
Capital flows back to reinsurers
31 August 2009
Some reinsurers have regained half or more of the capital they lost last year in the financial crisis and through windstorms, thanks to gains in underwriting and calmer investment markets…
US insurers reduce investment risk
31 August 2009
Interest rates and inflation pose the biggest long-term risk for US property and casualty insurers, according to reports by two ratings agencies…
New storm emerges after Bill and Danny fizzle
31 August 2009
North America’s hurricane season is in full swing, with category-four Jimena looking a threat to Mexico’s Baja California Peninsula on the west coast…
AIG income plummets 27%
24 August 2009
The world's largest insurer, AIG, has reported net income of $US3.09 billion ($3.32 billion) for the third quarter, a 27% decrease on the corresponding period last year…
Brokers boost claims amounts
24 August 2009
New British research shows 87% of brokers regularly negotiate an increase of up to 20% on claim payment offers made by insurers…
AIG appoints $7 million man
24 August 2009
Rescued insurance giant AIG will pay new CEO Robert Benmosche a package worth $US7 million ($8.46 million) a year…
Canada braces for Hurricane Bill
24 August 2009
As the eye of a weakened Hurricane Bill nears Canada's east coast, residents are battening down in preparation for damaging winds, pounding seas and heavy rain - and insurers…
Insurers warned over pricing
20 August 2009
Insurers engaging in price wars are gambling with their future, according to a paper by Liberty International Underwriters that calls into question the industry's financial health…
Further Greenberg legal settlement reported
17 August 2009
Former AIG chief Maurice "Hank" Greenberg and other former executives of the insurance giant have reportedly agreed to settle a lawsuit brought by a group of Ohio pension funds…
Hotel bombings force risk management review
17 August 2009
Global broker Aon has urged clients to improve risk management procedures following a spate of terrorist attacks on hotels in popular tourist areas…
Goodwill charge buries Crawford profit
17 August 2009
Global claims management provider Crawford & Company has reported a first-half loss of $US85 million ($102 million), due primarily to heavy goodwill charges…
Typhoon causes havoc in Taiwan
17 August 2009
Insurance claims following last week's typhoon in Taiwan aren't in line with the reported damage - so far…
AIG makes $2.3 billion from sale
17 August 2009
The infamous AIG financial products unit has completed the sale of energy and infrastructure assets for $US1.9 billion ($2.3 billion) amid ongoing parent company divestitures…
Ping An first-half profit falls 45%
17 August 2009
China's Ping An Insurance has reported a 45% fall in first-half net profit of RMB5.22 billion ($919 million)…
AIG back in black as new chiefs named
10 August 2009
Recovering giant AIG continues to make headlines with the appointment of two experienced financial services managers to replace Edward Liddy as Chairman and CEO and its first quarterly profit…
Zurich chooses Schiro replacement
10 August 2009
Zurich Financial Services has decided to replace retiring CEO James Schiro with an insider – CFO Martin Senn – from January 1…
Swiss Re records big Q2 loss
10 August 2009
Global reinsurer Swiss Re reported a CHF381 million ($426 million) loss for the second quarter as mark-to-market losses on hedges and impairments offset positive results from underwriting…