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International

AIG struggling to prove case against Greenberg

29 June 2009

The judge presiding over AIG’s $US4.3 billion ($5.3 billion) lawsuit involving former CEO Maurice “Hank” Greenberg has suggested the company’s case will fail unless lawyers...

Buyers set to re-emerge as US insurers cash up

29 June 2009

Strategic buyers and foreign government wealth funds may revive merger and acquisition activity in the US insurance market late this year, according to a new report by Deloitte...

British insurance body tackles non-insurance

29 June 2009

The Association of British Insurers has stepped up the fight against non-insurance by joining with brokers and insurers to develop and promote low-cost contents insurance schemes...

Greenberg on defence over fund

22 June 2009

Looking small and frail in the witness box of a New York court, 84-year-old insurance legend Maurice (Hank) Greenberg last week fronted up against lawyers for AIG, the company he built...

AIG/Gen Re whistleblower avoids jail

22 June 2009

A former executive who helped bring successful charges against his former colleagues over a sham AIG/Gen Re reinsurance deal has avoided a prison term...

North American commercial rates down

22 June 2009

Rates fell in almost every commercial insurance line in North America last year, despite the economic turmoil and the second-worst year on record for natural catastrophe losses...

Swiss Re’s cat bond with a difference

22 June 2009

Swiss Re has established a $US100 million ($126 million) catastrophe bond to reinsure Ace American Insurance against US hurricane and earthquake risks for three years...

Munich Re heads for the desert

22 June 2009

Munich Re is leading the charge in an ambitious plan to ease Europe’s energy woes by building solar power plants in the Sahara desert...

Fortis appoints new CEO

22 June 2009

Troubled banking and insurance group Fortis has announced Bart De Smet as its new CEO...

Big insurers look to emerging markets

15 June 2009

The growth potential of emerging world markets will entice 62% of leading life and general insurance companies to expand offshore in the next 12 months, according to a new international survey...

Global CEOs mostly upbeat

15 June 2009

International insurance and reinsurance chief executives are upbeat about the prospects for their companies in the economic downturn...

Marsh predicts PI perfect storm

15 June 2009

Global broker Marsh believes a professional indemnity “perfect storm” is brewing that could leave companies in the UK architectural, engineering and construction industries underinsured...

AIG garage sale continues

15 June 2009

Bits and pieces of AIG continue to be sold off in a bid to pay back American taxpayers for the $US180 billion ($222 billion) government rescue...

Insurer in breach over stolen laptop

15 June 2009

The UK’s Information Commissioner’s Office has found legal expenses insurer Amicus Legal in breach of the Data Protection Act after it reported a laptop containing...

Axa hacks into UK jobs

15 June 2009

About 560 jobs will get the chop over the next few months at Axa’s UK general insurance subsidiary...