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...
International
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...
Transparency to lead insurers forward: Plumeri
22 June 2009
Willis Chairman and CEO Joe Plumeri has called on the insurance industry to show leadership amid the global economic downturn by abolishing contingent commissions...
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...
Insurers hurting after Air France disaster
15 June 2009
The Air France crash that killed 228 people is expected to be the most costly airline disaster for insurers since 2001...
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...
Regulation of UK industry set to intensify
15 June 2009
The UK insurance industry will escape the “regulation revolution” facing banks but can expect closer scrutiny from regulators in coming years...
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...
International regulators run the rule over global downturn
15 June 2009
A fragile banking system, outsourced risk and sheer greed have been cited as some of the root causes of the global financial crisis at an international conference of regulators...
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...
Australia’s terrorism threat lowered
09 June 2009
Global broker Aon’s latest terrorism threat map shows a more settled outlook for Australia...
Climate change lawsuits ‘may outpace asbestos’
09 June 2009
Swiss Re says class action lawsuits related to climate change could develop more rapidly than those for asbestos, and it is monitoring developments closely for their insurance implications...
Marine insurance rates continue to soar
09 June 2009
Marine insurers are juggling falling revenues, lower premium volumes and decreased investment incomes, so not surprisingly rate increases will continue...
Lloyd’s insurer picks up Fortis corporate unit
09 June 2009
Lloyd’s market insurer Amlin has agreed to buy Fortis Corporate Insurance from the Dutch Government for €350 million ($616 million), attracted by its large commercial portfolio...