Munich Re flags ‘satisfactory’ first quarter
27 April 2009
Munich Re has flagged a “satisfactory” result for the first quarter of 2009, saying its consistent risk management approach is paying off amid the global financial crisis...
International
Chubb first quarter profit down 49%
27 April 2009
US insurance giant Chubb has recorded a 49% decrease in first-quarter net profit after poor investment results adversely affected generally sound underwriting...
Lloyd’s opens in Brazil
27 April 2009
Lloyd’s has opened an office in Rio de Janeiro, Brazil, a year after receiving approval to become the first foreign reinsurer in the country...
Lift your game, UK brokers tell insurers
27 April 2009
A UK Institute of Insurance Brokers survey has found major UK insurers have plenty of room for improvement – at least as far as brokers are concerned...
Axa ‘disappointed’ with flood proposal
27 April 2009
Global insurer Axa has joined other major insurers in giving a mixed reaction to the draft UK Flood and Water Management Bill...
AIG offloads auto insurance unit to Zurich
20 April 2009
Troubled insurance giant AIG has agreed to sell its US personal lines auto business to Zurich Financial Services for $US1.9 billion ($2.6 billion)...
British insurance fraud hits record levels
20 April 2009
Economic hardship always leads to insurance fraud, but the Association of British Insurers says fraud in the UK has already reached record levels with 2000 cases being exposed every week...
Risk agency reduces financial strength rating on 47 countries
20 April 2009
Credit insurer and ratings agency Coface has imposed negative ratings actions on 47 countries as trade risk continues to spiral...
New figures reveal extent of US insurance losses
20 April 2009
New results showing a 96.2% drop in profits for America’s property and casualty insurers last year reflect a hammering by catastrophe losses and the financial crisis...
… but insurers are storming through the downturn
20 April 2009
US property and casualty insurers are riding out the global financial crisis with their operating models intact and are in good stead to survive the storm...
Berkshire Hathaway downgraded by Moody’s
20 April 2009
Moody’s Investors Service has downgraded its rating for Berkshire Hathaway flagship reinsurer National Indemnity Company from Aaa to Aa1 and dropped the issuer default rating...
Normal Atlantic hurricane season forecast
20 April 2009
This year’s Atlantic hurricane season should feature a normal level of storm activity, according to Colorado State University’s Tropical Meteorology Project...
UK brokers welcome dropping of commission plan
06 April 2009
UK broker groups have welcomed a decision by the regulator not to impose mandatory disclosure on local insurance brokers...
G20 urged to recognise difference between insurers, banks
06 April 2009
International insurance trade groups have lobbied the Group of Twenty leaders at their meeting last week to distinguish between insurance and banking...
US moves closer to single insurance regulator
06 April 2009
US politicians have introduced legislation to create federal regulation of insurance, pledging to improve the current system where more than 50 state-based regulators run the industry...
Third broking group in UK flourishes
06 April 2009
The new London & International Insurance Brokers’ Association claims it now represents 98% of the London-based international broker sector...
Demand for reinsurance keeps industry strong
06 April 2009
Reinsurers are continuing to outperform the rest of the financial services sector, according to a report by global reinsurance broker Willis Re...
AIG completes sale of two insurance units
06 April 2009
AIG has finalised the discount sale of an American specialty insurer and a Canadian life insurance unit as the beleaguered insurer continues to divest non-core assets...
Analyst predicts income falls for US insurers, brokers
06 April 2009
The economic crisis will affect the top and bottom lines of commercial insurers, according to a report by US commercial insurance data collector Advisen...
Cost-conscious Swiss Re appoints new operating chief
06 April 2009
Swiss Re has promoted Agostino Galvagni to COO and announced plans to trim its 11,560 workforce by about 10% over the next 12 months...