Lloyd’s retains excellent rating
20 July 2009
Credit ratings agency AM Best has affirmed its A (Excellent) rating for Lloyd’s of London, saying the market should maintain a solid and flexible capital base into next year…
International
Investment in risk management stable
20 July 2009
The adoption of enterprise risk management has flattened out at about 65% of businesses according to a joint report by Marsh and the Risk and Insurance Management Society…
US lawmaker blasts AIG bonus plan
20 July 2009
A US government insurance industry watchdog has blasted AIG over US reports it will again push for bonuses for top executives…
Willis claims Chicago’s Sears Tower
20 July 2009
Global broker Willis has bought the naming rights to the tallest building in the western hemisphere…
New code, new president for British institute
20 July 2009
Britain’s Chartered Insurance Institute has a new president and a new code of ethics…
New cat bond offer from Hannover Re
20 July 2009
Hannover Re is marketing a €75 million ($132 million) catastrophe bond to cover against extreme losses from European windstorms…
AIG to sell $US15 billion life asset
13 July 2009
Embattled US insurance conglomerate AIG has reportedly again entered talks with life insurer MetLife to hand over its American Life Insurance Company…
American rates down in June
13 July 2009
While the trend everywhere else is up, general insurance rates in the US market appear to be continuing to slide…
Jury sides with Greenberg in AIG case
13 July 2009
A US jury has sided with former AIG CEO Maurice “Hank” Greenberg in a $US4.3 billion ($5.5 billion) lawsuit brought by his former company…
Losses will lift aviation rates
13 July 2009
June is shaping up as the most expensive month for aviation insurance since the US terrorist attacks in September 2001, with rates set to rise significantly as a result…
New York amends commission rules
13 July 2009
The New York State Insurance Department has made concessions to draft commission disclosure rules that put the onus on buyers to raise the issue with brokers…
New chief for British brokers
13 July 2009
Well-known UK broker Patrick Smith will succeed Derek Thornton as Chairman of the British Insurance Brokers’ Association in September…
PartnerRe snaps up Paris Re in $2.6 billion deal
13 July 2009
Bermuda-based PartnerRe has agreed to buy French-listed Paris Re in an all-stock reinsurance acquisition valued at $US2 billion ($2.6 billion)…
US insurers report $US1.3 billion first-quarter loss
06 July 2009
US property and casualty insurers reported a $US1.3 billion ($1.6 billion) loss during the first quarter as underwriting losses and falling investment returns took their toll on the market...
Catastrophes could stall Bermuda market’s recovery
06 July 2009
Most Bermuda-based reinsurers could recoup last year’s punishing investment losses in the next one to two years providing catastrophe losses stay in check, according to a Deloitte survey...
Towers Perrin and Watson Wyatt merge
06 July 2009
Global financial services consultants Towers Perrin and Watson Wyatt have announced they will combine to form a new, publicly listed company to be known as Towers Watson...
Reinsurance rate hike slower than expected
06 July 2009
Reinsurers have reported generally stable pricing and capacity during the latest renewal period after initial fears of a dramatic rise in rates...
G8 fails on climate change
06 July 2009
The Group of Eight most industrialised countries has failed to protect the world against climate change, according to a report by global insurer Allianz and the World Wildlife Fund...
Geneva Association outlines insurers’ role on climate change
06 July 2009
Insurance sector innovation can play a major role in mitigating climate change, according to Swiss-based researcher the Geneva Association...
Risk agency reduces financial strength rating on 13 countries
06 July 2009
Credit insurer and ratings agency Coface has imposed negative ratings actions on 13 countries amid an ongoing increase in international trade risk...