Premiums on the up as hurricane buffets the Americas
28 July 2008
US insurers continue to feel the pinch from natural disasters, with Hurricane Dolly striking coastal areas of Texas and Mexico last week...
International
Willis challenges insurers to dump volume commissions
21 July 2008
Willis North America CEO Don Bailey has called for the abolition of contingent commissions and questioned the integrity of brokers making money from volume business...
Flood: British brokers lean on Government to do better
21 July 2008
The British Insurance Brokers’ Association has given initial approval to a UK Government commitment to flood insurance but says more needs to be done...
UK Parliament hears bid to modernise Lloyd’s
21 July 2008
The UK Parliament has heard a draft legislative reform order aimed at modernising the operation and governance of Lloyd’s of London...
Knight succeeds Aon founder
21 July 2008
Lester Knight has been named the new non-executive Chairman of global broker Aon Corp...
AIG buys out Ascot
21 July 2008
American International Group has bought the Lloyd’s of London agency Ascot Underwriting Holdings outright...
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...