Guilty verdict in AIG/Gen Re trial
03 March 2008
Five former Gen Re and AIG executives have been convicted on conspiracy charges in a US District Court…
International
Munich Re exceeds profit forecast despite final quarter woes
03 March 2008
Munich Re has surpassed its maximum profit forecast for last year by €100 million ($161 million), posting an 11.9% increase to €3.9 billion ($6.3 billion) despite adverse weather…
Swiss Re happy with big 2007 result
03 March 2008
Swiss Re has reported a strong net income for 2007 of CHF 4.2 billion ($4.36 billion) - nearly as good as its record 2006 return…
AIG posts $US5.29 billion loss after subprime hit
03 March 2008
Two former Marsh executives have been found guilty on an anti-trust charge for participating in an insurance bid-rigging scheme…
Former Marsh executives convicted of bid-rigging
03 March 2008
Two former Marsh executives have been found guilty on an anti-trust charge for participating in an insurance bid-rigging scheme…
RSA profit up 4%
03 March 2008
Royal & SunAlliance recorded a 4% rise in operating profit last year to £814 million ($1.7 billion), despite the impact of widespread flooding in Britain…
UK floods dampen Aviva profit
03 March 2008
British insurance giant Aviva has blamed summer floods in the UK for wiping out profitability in its general insurance lines…
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…
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…