Mixed fortunes for insurers and brokers
05 May 2008
In a largely forgettable first-quarter reporting season, leading international insurers and brokers alike have seen their profits hit as adverse weather claims and the global credit…
International
UK brokers move back into motor
05 May 2008
British brokers are staging a comeback in the motor personal lines market but are seeing their share of the SME market decline, says a leading research provider...
Lloyd’s boss calls for liability overhaul to counter subprime crisis
05 May 2008
Lloyd’s Chairman Lord Levene has called for a wholesale review of liability risk to combat the subprime threat...
US cat bill doubles
05 May 2008
US insurers are facing a $US3.35 billion ($3.55 billion) first-quarter claims bill from catastrophes, more than double the $US1.26 billion ($1.34 billion) payout…
Bermuda shakes off hurricane torpor to record strong growth
05 May 2008
The Bermuda insurance market is in good health despite the softening market, says AM Best...
Liberty Mutual succeeds in Safeco takeover
28 April 2008
US insurer Liberty Mutual Group has announced it will acquire Safeco Corporation for $US6.2 billion ($6.5 billion)...
RBS considers insurance sale
28 April 2008
The Royal Bank of Scotland is looking to offload its insurance division, with US giant AIG touted as a potential buyer...
Insurance tax axed
28 April 2008
A 15% sales tax on premiums has been axed by the Canadian province of Newfoundland and Labrador...
Rates biggest challenge for London market: Fitch
28 April 2008
The London insurance market has come a long way but needs to address a number of challenges if it is to retain its excellent reputation, according to ratings agency Fitch...
Chinese premiums enjoy spike
28 April 2008
China’s insurance premium revenue has risen 51.6% in the first quarter of the year to RMB297.9 billon ($45 billion)...
UK calls for cross-border co-operation
28 April 2008
The UK Government is calling for closer co-operation among European Union regulators...
Law firms under suspicion in claims crackdown
28 April 2008
Ten UK law firms and dozens of claims management companies are reportedly under investigation for alleged insurance fraud...
Guy Carpenter develops Asian flood model
28 April 2008
Reinsurance broker Guy Carpenter has introduced new flood modelling technology in Thailand and may extend the software throughout the Asia-Pacific region...
European ERM take-up improves
28 April 2008
European insurers are increasingly turning to enterprise risk management as the Solvency II deadline approaches, Standard & Poor’s reveals in a report...
US insurers enjoy underwriting profit despite premium slide
21 April 2008
The US property/casualty insurance industry has recorded its second consecutive underwriting profit despite net written premium falling for the first time in more than six decades...
Reinsurers fly to Rio
21 April 2008
Global reinsurers are moving into Brazil following the deregulation of the country’s reinsurance market...
US bill proposes federal insurance overseer
21 April 2008
New US legislation proposes to create a federal Office of Insurance Information inside the Department of Treasury...
Munich Re forecasts €500 million dip in ’08 profit
21 April 2008
Munich Re has forecast a dip in net profit of least €500 million ($849 million) for the year due to an increase in claims in the first quarter...
Islamic insurance set to take off
21 April 2008
The Islamic “takaful” insurance market will be worth $US4.3 billion ($4.6 billion) within two years, an Ernst & Young report reveals...
US commercial rates still dropping
14 April 2008
US insurance premiums are continuing to fall, with the largest decreases since Hurricane Katrina recorded in the last quarter...