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...
International
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...
US flood plan extended
06 October 2008
It wasn’t the biggest piece of legislation the US Congress pondered last week, but its passage was at least quick and well received...
AIG offloads UK airport stake
06 October 2008
AIG last week sold its 50% stake in London City airport as it finalised plans to offload further assets in order to repay the $US85 billion ($109 billion) US Federal Government…
Hurricane Ike among most costly on record
06 October 2008
Hurricane Ike’s estimated losses of $US9.8 billion ($12.6 billion) have put the catastrophe on track to be the fourth most expensive storm in US history...
Typhoon Jangmi shakes up Taiwan
06 October 2008
AIR Worldwide Corporation has estimated insured losses from Typhoon Jangmi at between $US40-120 million ($51-152 million) after the storm rocked parts of Taiwan...
Munich Re to raise prices following AIG crisis
29 September 2008
Munich Re plans to significantly raise premiums in the wake of the AIG bailout, saying the reinsurance market has now hardened...
Lloyd’s half-year gross profit falls 47%
29 September 2008
Lloyd’s has reported a 47% drop in half-year gross profit as rising claims drained profitability from the world’s largest insurance market...
Governments save the day for troubled Fortis
29 September 2008
Banking and insurance group Fortis has become the latest victim of the US financial crisis, staying afloat only thanks to a tripartite government rescue package...
Tort laws work – depending on US state of origin
29 September 2008
Tort laws effectively lower insurance premiums and save consumers money, but it depends on which state you live in, according to research from the University of Iowa...
Greenberg bails out of AIG
29 September 2008
Former AIG Chairman and CEO Maurice “Hank” Greenberg has announced plans to sell some of his AIG stock...
Economic uncertainty increases D&O insurance
29 September 2008
Class action litigation in the US and the growing economic uncertainty have created a surge in the demand for management liability insurance among the UK’s top firms…
Swiss Re writedowns lower than predicted
29 September 2008
Swiss Re has reaffirmed its earnings targets as its financial writedowns are lower than expected...
Reinsurers face hefty Lehmans exposure
22 September 2008
The collapse of New York-based Lehman Brothers investment bank has sent many of the world’s reinsurers rushing to check the ledger...
UK regulator sets out lessons learned
22 September 2008
Outgoing UK Financial Services Authority Chairman Callum McCarthy has outlined a plan for tackling the crisis besetting world financial markets...
Hurricane Ike hits wallets
22 September 2008
After slamming ashore near the Texas city of Galveston on September 13 and later weakening to a tropical depression across western Arkansas the next day, Hurricane Ike’s…