Hannover Re’s targets no longer attainable
27 October 2008
Reinsurer Hannover Re has abandoned its profit forecast for the year but remains “cautiously optimistic” about next year’s prospects...
International
Swiss Re backs Malawi maize production
27 October 2008
Swiss Re has entered into a weather derivative contract to pay up to $US5 million ($7.6 million) if Malawi’s farmers suffer from a drought-related shortfall in maize production...
Outlook positive for global insurers
20 October 2008
Standard & Poor’s says global insurers are well placed to ride out the turbulence caused by the American subprime meltdown...
Balance shifts away from banks
20 October 2008
The global financial crisis will shift the balance of power within the finance industry towards insurers and away from banks, according to the head of Munich Re...
AIG’s loan from Feds a ‘lose-lose plan’
20 October 2008
The US Government’s loan to AIG will see the liquidation of the company and the loss of thousands of jobs as well as billions of dollars in shareholder value…
Regulators emphasise need for solvency
20 October 2008
The International Association of Insurance Supervisors has ratified six new papers on solvency assessment, citing the importance of insurer solvency amid the current financial…
ING gets a capital boost from Dutch Government
20 October 2008
ING Group will pump €2 billion ($3.9 billion) into the balance sheet of ING Insurance after the Dutch Government agreed to inject €10 billion ($19.5 billion) into the company...
New mobile technology to cut driver distraction
20 October 2008
US insurers are promoting new technology in a bid to cut down on car crashes caused by a menacing minority – drivers using mobile phones...
AIG takes some extra cash
13 October 2008
The US Federal Reserve has offered even more cash to the struggling AIG...
Buyers circle AIG’s non-core assets
13 October 2008
Potential buyers are eyeing off AIG business units after the US insurer announced the sale of non-core assets to focus on its international general insurance business...
Lloyd’s brokers move to split from BIBA
13 October 2008
The London Market Brokers’ Committee, which represents Lloyd’s brokers in the UK, is seeking member support to form a new broking association separate to the British…
Rates and profits down in the US
13 October 2008
Hard times are descending on the US general insurance industry...
Munich Re sets ambitious earnings target…
13 October 2008
Munich Re has reiterated its goal of increasing earnings per share to €18 ($36.70) by 2010...
… and sponsors climate change research
13 October 2008
Munich Re has teamed up with the London School of Economics to advance research into the economic effects of climate change...
EU passes Solvency II Bill to stabilise insurance
13 October 2008
The European Union has approved the Solvency II Bill in a bid to improve the financial stability of its insurance industry...
Allianz invests $US2.5 billion in The Hartford
13 October 2008
German insurer Allianz SE will invest $US2.5 billion ($3.7 billion) in The Hartford Financial Services Group in a move designed to improve the balance sheet of the US life…
Zurich writes down US exposures
06 October 2008
Zurich Financial Services Group has announced a series of writedowns based on its exposure to failed US financial firms...
US property and casualty profits plummet
06 October 2008
The US property and casualty industry’s after-tax profits plummeted 57% to $US13.9 billion ($17.5 billion) during the first half of the year, according to a joint industry report...
Survey: AIG still a respected industry player
06 October 2008
A US survey reveals that despite AIG’s financial woes the insurance industry maintains a “deep reservoir of goodwill” toward the beleaguered group...
AIG Life: should I stay or should I go?
06 October 2008
UK investors in AIG Life’s “Enhanced Fund” have had an interesting choice this week...