Commercial rates, even property, set to fall
13 February 2007
Some of the most dramatic changes in US insurance markets last quarter were in commercial rates, according to a Risk and Insurance Management Society benchmark survey…
International
Aon profit down as Willis shines
13 February 2007
Aon Corporation’s operating earnings in the fourth quarter of last year nearly doubled as revenue grew 7%…
World Bank grant helps PNG insurance
13 February 2007
A new general insurance project in Papua New Guinea has received a $US300,000 ($388,000) grant from the World Bank…
Governments urged to curb pollution
13 February 2007
International insurers are keen to produce new products to handle risks associated with global warming – but only if governments commit themselves to reducing pollution…
Lloyd’s names board for 2007
13 February 2007
The world’s biggest insurance market, Lloyd’s, has reappointed Lord Peter Levene as Chairman and named Argenta Private Capital Executive Director Graham White as Deputy Chairman…
Results show strong industry in Europe and US
06 February 2007
International insurers and brokers are reporting a strong surge in revenue and profit going into 2007 and are feeling confident about the year ahead…
Willis Re unveils reinsurance concerns
06 February 2007
Willis Group has released a reinsurance review of the international market after the December renewals, saying rates in most places, including Australia, are flat or falling…
Marsh gains China licence
06 February 2007
Marsh has won approval to open a wholly owned insurance broking company in China after the country fulfilled its commitment to the World Trade Organisation to open…
James to leave Lloyd’s
30 January 2007
Lloyd’s Director of Worldwide Markets Julian James is leaving the market to become Executive Chairman of the re-branded risk management business of Alexander Forbes, which US broker Lockton bought late last year…
European storm will cost industry billions
30 January 2007
Winter Storm Kyrill – the worst storm to hit Europe in eight years – will cost the industry between €4 billion ($6.7 billion) and €8 billion (13.4 billion), according to catastrophe modeler AIR Worldwide…
Political risks down slightly in 2007
30 January 2007
Despite coups in Fiji and Thailand last year, the world is looking its most politically stable in three years…
Aviva CEO to retire
30 January 2007
Aviva Group CEO Richard Harvey has announced his retirement on July 11, and the UK company’s board has named Finance Director Andrew Moss to succeed him…
FSA chief decides to leave
30 January 2007
The UK’s Financial Services Authority is losing its CEO…
Busy hurricane season forecast for 2007
12 December 2006
The US is forecast to take a battering from a more active than average hurricane season next year, with least 14 storms forming and more systems coming ashore…
Lloyd’s says don’t follow herd on soft cycle
12 December 2006
Refusing to follow the herd, providing the right incentives for underwriters and investing in risk management tools have been recommended by Lloyd’s for companies managing…
UK brokers happy with review
12 December 2006
Insurance brokers in Britain have welcomed the findings of the Davidson Review into local implementation of laws enabling Britain’s participation in the European Union…
Spitzer enforces agreement on contingency payments
05 December 2006
He may be getting ready to head upstate to Albany where he’ll take up the post of Governor of New York, but Attorney-General Eliot Spitzer is making sure insurers and brokers stick to…
Takeover possible for Italian insurer
05 December 2006
Italy’s biggest insurer Assicurazioni Generali is the centre of much M&A speculation after its recent acquisition of smaller insurer Toro for €3.85 billion ($6.5 billion)…
US insurers to pay for New Orleans floods
05 December 2006
Despite some US insurers refusing to honour claims from New Orleans policyholders, a Louisiana judge has ruled that many New Orleans homeowners whose houses…
Aon to net $1 billion after double sale
05 December 2006
Chicago-based Aon Corporation has announced the sale of two subsidiaries, with sales proceeds and dividends expected to top $US800 million ($1.01 billion)…