‘Dob-in’ system for UK insurers better: FSA
13 March 2007
The UK’s financial regulator says it has “streamlined” its self-reporting system so companies can report the suspected financial crimes of others with greater ease…
International
Marine insurance losses down
13 March 2007
A dramatic reduction in the number of total losses of merchant ships since the year 2000 has been recorded, according to new statistics from the International Union of Marine Insurance…
Willis sticks with China
13 March 2007
Willis Group Holdings’ continued focus on broking major commercial risks in China has resulted in a revenue rise of 23% in 2006 for its China business…
US and Europe enjoy good times
06 March 2007
It’s profit season in international insurance circles, and most insurers seem to be taking the “p” word as literally as possible…
Hurricane Katrina claims top $40 billion
06 March 2007
US insurers have settled nearly all of the 1.7 million claims totalling $US40.6 billion ($52.3 billion) from Hurricane Katrina, according to the Insurance Information Institute…
Lloyd’s expands its Malaysian reinsurance
06 March 2007
Lloyd’s has opened a new reinsurance subsidiary in Labuan, Malaysia, hoping to take advantage of recent fast growth among the Association of South East Asian Nations…
Aon checks its books
06 March 2007
Aon Corporation will restate more than three years of its financial results after an internal audit committee uncovered irregularities in its accounts…
Spitzer reforms cap workers’ compensation
06 March 2007
New York’s long-awaited workers’ compensation package has been unveiled by Governor Eliot Spitzer, capping the number of years for which people can claim benefits…
Ace appoints Greenberg as Chairman
06 March 2007
Ace Insurance CEO Evan G Greenberg has been elected Chairman of the company’s board of directors…
European profits up
27 February 2007
Europe’s two biggest insurers, Allianz and Axa, have ridden buoyant equities markets and reduced claims to surpass market forecasts in their annual financial statements…
US call for billion-dollar disaster fund
27 February 2007
A multi-billion dollar fund should be established across disaster-prone US states to guard against hurricanes, tornadoes and other natural calamities, according to a peak council of insurance regulators…
Fight not flight for EU
27 February 2007
The European Union has been preparing itself for a possible pandemic, but the European Centre for Disease Prevention and Control says there is at least another two years of work to effectively counter an outbreak of bird flu…
University escapes liability in asbestos case
27 February 2007
A ruling in the UK Court of Appeal has left lawyers scratching their heads over asbestos-related liabilities…
Swiss Re consolidates acquisition
20 February 2007
It’s been a good renewals season for Swiss Re, which has increased its non-life reinsurance portfolio by 14% over January…
Zurich looks to the east
20 February 2007
Zurich has expanded its Russian footprint by taking a 66% stake in Moscow-based NASTA Insurance for an undisclosed sum…
… and a happy result
20 February 2007
Surging general insurance lines and falling claims have helped the Zurich Group post a record annual profit of $US5.86 billion ($7.45 billion)…
St Paul buys back its umbrella
20 February 2007
US property and casualty insurer St Paul Travelers hopes to reinvigorate its brand image with a new name and a reunion with an old trademark…
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…
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…