Reports of rebellion at Lloyd’s
03 March 2008
A rebel Lloyd's breakaway group is reported to be challenging Chairman Lord Levene's authority…
International
Aon acquires bulk of Gallagher Re
03 March 2008
Aon has picked up Arthur J Gallagher's US and UK reinsurance brokerages for an initial $US30 million ($31.8 million) and up to $15 million extra, depending on revenues…
Euro run-off about to take off: PWC
03 March 2008
The European run-off market is likely to increase over the next five years as a result of legislative changes, says a PricewaterhouseCoopers report…
British broker bodies in merger speculation
25 February 2008
Newly appointed Institute of Insurance Brokers CEO Barbara Bradshaw says the association is considering an amalgamation with larger rival the British Insurance Brokers' Association…
UK flood cover in jeopardy
25 February 2008
The public/private compact ensuring British householders have access to flood insurance is in danger of crumbling amid concern about the UK Government's ambitious…
Allianz weathers subprime to achieve record profit
25 February 2008
German-based insurer Allianz has achieved record results for last year, with net income lifting 13.5% to €7.97 billion ($12.84 billion) and operating profit up 9% to €10.9 billion…
Market cycle exercises Lloyd’s underwriters
25 February 2008
The insurance industry should make managing the cycle its top priority, a survey of Lloyd's underwriters suggests…
… as Lloyd’s sets paper deadline
25 February 2008
The end is finally in sight for paper at Lloyd's as the market moves to full implementation of electronic processing for accounting and settlement…
Munich Re flags increase in combined ratio
25 February 2008
Munich Re has revised its combined ratio estimate for this year to 98% ahead of provisional figures to be released today…
… and launches $US1.5 billion pandemic risk cat bonds
25 February 2008
Munich Re has created a bond program to transfer pandemic risks to the capital markets…
FM Global achieves record net income
25 February 2008
FM Global's net income rose 26% last year to a record $US928 million ($1 billion)…
Marsh ranks No 1 in China
25 February 2008
Marsh has been ranked China's leading international broker by the China Insurance Regulatory Commission…
Gen Re/AIG trial hears closing arguments
18 February 2008
Five insurance executives accused of a sham reinsurance deal must now bear the consequences, a US federal prosecutor argued in closing statements at the Gen Re…
Bradshaw heads IIB
18 February 2008
Barbara Bradshaw has been appointed CEO of the UK Institute of Insurance Brokers following the sudden death last month of founder and Director-General Andrew Paddick…
Marsh and Kroll lead MMC downward slide
18 February 2008
Newly installed Marsh & McLennan CEO Brian Duperrault has targeted the company's broking and technology subsidiaries for remedial work in the wake of a 46% slide in fourth-quarter…
Zurich banks $US5.6 billion
18 February 2008
Zurich Financial Services Group has beaten analysts' forecasts to record a 22% rise in net profit to $US5.6 billion ($6.2 billion) for last year…
AIG shares slide after $US5 billion subprime writedown
18 February 2008
AIG shares dropped 11% last week after the company revealed auditor concern about its financial reporting methods…
Lloyd’s to reinsure in Rio
18 February 2008
Lloyd’s is to set up reinsurance operations in Brazil following the abolition of national monopoly reinsurer IRB Brasil Re…
Expensive China snowstorm
18 February 2008
Chinese insurers have paid out more than $150 million in claims following snowstorms that blanketed southern provinces in late January…
Liberty Mutual income falls
18 February 2008
Liberty Mutual's net income slid 6.5% to $US425 million ($471 million) for the final three months of last year, despite a 15% jump in revenue to $US6.93 billion ($7.63 billion)…