Buffett named as witness in AIG/Gen Re trial
11 December 2007
Prosecutors plan to call billionaire Warren Buffett as a witness in the criminal trial of five senior insurance executives in the US…
International
US insurers enjoy Indian summer – but storm clouds ahead
11 December 2007
The US property/casualty insurance market is enjoying its fourth consecutive year of double-digit returns on capital, says Fitch Ratings…
Subprime separates best from rest in risk
11 December 2007
The US subprime crisis has exposed deficiencies in risk management among financial institutions globally, according to a report by consultants TowerGroup…
US rates continue to flounder
11 December 2007
The soft US property and casualty insurance market shows no sign of turning, with rates down an average of 15% last month…
MMC in rating downgrade
11 December 2007
Standard & Poor’s has lowered its counterparty credit rating on Marsh & McLennan (MMC) to BBB- from BBB, which it attributes to the poor performance of broking…
Mixed fortunes for US reinsurers
11 December 2007
The US reinsurance sector’s combined ratio improved to 94.1% from 95.4% for the first nine months of the year, according to the Reinsurance Association of America’s latest…
Lloyd’s warns on terrorism risk
04 December 2007
British businesses need to develop practical ways to combat terrorism risk, according to a Lloyd’s report…
US commercial market going strong
04 December 2007
US commercial property/casualty insurers appear to be in rude health despite soft market conditions, says a report by Standard & Poor’s…
AIG Europe boss to head Marsh
04 December 2007
AIG Europe MD Daniel Glaser has been appointed Chairman and CEO of Marsh…
AIG in subprime horror show
27 November 2007
Giant insurer AIG is facing the subprime blowtorch as it deals with a shareholder lawsuit, the possibility of further writedowns and the disaffection of influential…
Hurricane risk remains high
27 November 2007
US residents face an elevated threat of hurricanes making landfall over the next five years, according to weather forecaster Risk Management Solutions…
UK professional rates hit seven-year low
27 November 2007
Rates are continuing to fall in financial, executive and professional lines of insurance, according to a Willis survey of UK insurers…
Hike in P&I club claims force up premiums
27 November 2007
A surge in costly protection and indemnity pool claims is increasing shipowners’ premiums, with P&I clubs initiating increases of 10% to 20% at renewal…
No sign of lift-off in airline market
20 November 2007
The soft market in airline insurance is likely to continue to the end of the year, says a report from Aon…
FM Global policyholders in credit bonanza
20 November 2007
US-based mutual FM Global is returning $413 million to its policyholders in next year's renewal season…
Soft market here to stay: consultant
20 November 2007
The market for property and casualty insurance will stay soft next year, with premiums expected to decline further or at least remain flat…
Zurich income up 25%
20 November 2007
Zurich has reported a 25% increase in net income to $US4.2 billion ($4.7 billion) for the nine months to September 30, compared with the first three quarters of last year…
Swiss Re decked by subprime loss
20 November 2007
The subprime mortgage meltdown in the US has claimed its first reinsurance victim, with Swiss Re announcing a startling CHF1.2 billion ($1.22 billion) write-down from exposure…
Over the Limit in QBE Euro restructure
13 November 2007
QBE European Operations will replace a swag of well-known brands with QBE livery in the new year when it launches a new product and distribution structure…
Marsh back in the commission game
13 November 2007
No 1 global broker Marsh will begin charging US insurers an "enhanced" commission for small and middle-market commercial business from early next year…