09 March 2009
Former Gen Re Senior VP Christopher Garand has been jailed by a US district court for 366 days and fined $US150,000 ($232,818) following his conviction in the AIG/Gen Re reinsurance scam...
09 March 2009
Fitch Ratings has changed its outlook on Zurich Insurance Company, the main operating company of Zurich Financial Services, from positive to negative, but kept the company’s...
09 March 2009
Global reinsurance broker Guy Carpenter is buying competitor John B Collins Associates, the world’s seventh-largest reinsurance intermediary...
09 March 2009
The European Union has reached a deal to introduce compulsory registration and direct supervision of credit ratings agencies...
09 March 2009
Berkshire Hathaway boss Warren Buffett has told shareholders in his annual letter that the US economy will be “in shambles” throughout this year, but declined to speculate on whether...
09 March 2009
Commercial property insurer FM Global is looking happy with its US rankings in the latest independent research by financial services surveyors Greenwich...
09 March 2009
Munich Re’s primary insurance business has reported a drop of 62% in its operating result to €477 million ($934 million)...
02 March 2009
International media reports say AIG is in talks with US authorities to discuss a possible restructure of the company that could see it split into three divisions to stay afloat...
02 March 2009
Loss estimates undertaken immediately after complex natural catastrophes are fraught with uncertainty, according to Munich Re...
02 March 2009
German insurer Allianz has recorded a full-year loss of €2.4 billion ($4.7 billion) as discontinued banking operations punched a €6.4 billion ($12.6 billion) hole in the insurer’s balance sheet...
02 March 2009
UK credit insurers have leapfrogged ratings agencies to become the key determinants of company credit quality, brokerage Aon Trade Credit claims...
02 March 2009
US-based insurance giant Chubb Corporation has agreed to pay $US239,000 ($369,162) to settle compensation disclosure allegations brought by the Massachusetts Attorney-General...
02 March 2009
It might have returned solid full-year financial results, but global insurer RSA (until last year known as Royal & SunAlliance) still intends to cut 1200 staff in the UK...
02 March 2009
Britain’s Financial Services Authority has banned insurers from selling single-premium payment protection insurance with unsecured loans...
02 March 2009
The FSA has introduced a draft code of practice for remuneration that sets minimum risk management standards for pay policies...
02 March 2009
Royal Bank of Scotland Insurance illustrated continued viability last week, turning a 15% operating profit despite the parent company recording the worst result in UK corporate history...
02 March 2009
The financial crisis is likely to drive more insurers to use state-of-the-art scenario analysis to evaluate future risk, a Swiss Re report claims...
23 February 2009
Broker Jardine Lloyd Thompson has foreshadowed rises of between 10% and 40% in UK directors’ and officers’ liability insurance premiums following tough reinsurance renewals this year...
23 February 2009
Powerful European insurers and reinsurers have joined forces to form a new company that will provide European catastrophe insurance data industry-wide...
23 February 2009
Swiss Re has confirmed the worst, last week announcing a net loss of CHF864 million ($1.14 billion) for 2008 – driven largely by bad investment strategies...