AIG buys out Ascot
21 July 2008
American International Group has bought the Lloyd’s of London agency Ascot Underwriting Holdings outright...
International
Allianz considers Dresdner sale
21 July 2008
The old saying that insurance and banking don’t mix appears to be holding true at German insurance giant Allianz, which looks set to offload its under-performing Dresdner Bank...
UK insurers seal deal on flood cover
14 July 2008
The Association of British Insurers and the UK Government have reached an agreement that ensures flood insurance will remain widely available...
UK broker associations unite on transparency concerns
14 July 2008
The British Insurance Brokers’ Association and the Institute of Insurance Brokers have joined forces in the fight against mandatory commission disclosure...
US federal insurance regulation a step closer
14 July 2008
A US House of Representatives subcommittee has approved legislation to establish an Office of Insurance Information in the US Treasury, as moves toward...
Munich Re: half-year nat cat stats reveal high death toll
14 July 2008
Munich Re’s half-year report shows the 2008 death toll from natural catastrophes is on track to be among the worst on record...
Zurich pulls out of bidding for bank’s insurance arm
14 July 2008
Zurich has announced it is out of the running to acquire the Royal Bank of Scotland’s insurance division, whittling the list of potential suitors to three...
California considers disaster levy on policies
14 July 2008
As 44 Australian and New Zealand fire-fighters join the battle against this summer’s Californian bushfires, the state’s legislators are discussing a “homeowners insurance surcharge” to cover...
AIG emerges in Beijing
14 July 2008
American International Group has finally broken its way into the Chinese capital of Beijing in its own right...
Reinsurance market remains soft despite brutal half year
07 July 2008
The global reinsurance market remains soft despite estimated first-half losses of $US6 billion ($6.2 billion), Willis Re’s annual July renewal report has revealed...
Bank sets bid deadline for insurance division
07 July 2008
The Royal Bank of Scotland has given potential buyers until the end of the month to finalise offers for its insurance division...
AIG hands ousted boss $48.8 million
07 July 2008
Former AIG CEO Martin Sullivan has received a golden handshake worth $US47 million ($48.8 million)...
British brokers: no client demand for commission disclosure
30 June 2008
British broker associations have united to oppose mandatory commission disclosure, citing a lack of customer demand for change...
Emerging markets prop up premiums: Swiss Re
30 June 2008
Global insurance premiums increased marginally last year, with only strong growth in emerging economies saving the general insurance market from contraction…
North American insurers given stable rating
30 June 2008
Standard & Poor’s (S&P) has assigned a stable outlook to the North American insurance market, despite challenging trading conditions...
Speculation mounts on sale of Allianz banking arm
30 June 2008
A number of suitors are emerging for Allianz’s Dresdner Bank subsidiary...
Risk management still absent from the boardroom
30 June 2008
A survey by insurance broker Marsh UK finds only 30% of risk managers believe risk management is consistently taken into account by company directors in Europe...
UK flood review calls on insurers to lift their game
30 June 2008
British insurers have “generally responded well” to last year’s devastating summer flooding but could do better, according to an official report by leading bureaucrat Sir Michael Pitt...
US, Europe financial firms to cut 175,000 jobs
30 June 2008
Thousands of jobs may be lost in the US and Europe as the world’s biggest financial firms shed workers amid slowing revenue growth and billion-dollar writedowns...
AIG suffers ratings hit
23 June 2008
US ratings agency AM Best has downgraded ratings on two AIG subsidiaries in another setback for the beleaguered American insurer...