Hurricanes increase rates in Florida
11 July 2006
Experts are predicting a major storm in Florida this month, as key US home insurer Nationwide tries to increase its rates by as much as 99%…
International
Silverstein gives insurers a hurry-up
04 July 2006
World Trade Centre developer Larry Silverstein and the Port Authority of New York have sued seven insurers, stating they should hurry up and pay the money they owe…
JLT set to acquire Heath Lambert
04 July 2006
Shares in UK broker Jardine Lloyd Thompson Group jumped nearly 10% yesterday as rumours of an impending merger with major rival Heath Lambert Group swept through London’s…
Lloyd’s PR event ends in puddle
04 July 2006
It was to be one of those spectacular events that attract plenty of free media and get a strong message across…
British regulator to be reviewed
27 June 2006
Britain’s financial watchdog is to be formally reviewed by the UK Government…
Quake threat for LA
27 June 2006
A new study conducted by the Scripps Institution of Oceanography at the University of California has predicted the next earthquake to hit the southern section of…
Japanese insurer suspended over claims
27 June 2006
Japan’s Financial Services Agency has ordered the country’s second-largest property and casualty insurer to stop selling medical insurance because it failed to pay claims…
Allianz sheds 7000
27 June 2006
German insurer Allianz, Europe’s largest insurer, is about to experience some painful cost-cutting, with more than 7000 finance sector jobs to go…
R&SA slashes jobs but positive about future
20 June 2006
No 2 British insurer Royal & SunAlliance is cutting 1550 jobs, including 1000 in the UK, in a bid to save an extra £130 million ($221.9 million) in annualised expenses…
No 9/11 court expenses for Zurich
20 June 2006
Insurers have come out ahead of World Trade Centre leaseholder Larry Silverstein after their fierce court battle over the New York site…
AIG withholds theft information
20 June 2006
Computer equipment containing personal information related to more than 930,000 clients was stolen from a mid-western US office of American International Group…
Axa buys out Winterthur
20 June 2006
Axa has entered a definitive agreement to gain entire control over Winterthur Group from Credit Suisse for €7.9 billion ($13.5 billion)…
New CEO for Guy Carpenter
20 June 2006
Marsh & McLennan Companies has appointed former Benfield CEO David Spiller as CEO of the group’s global risk and reinsurance specialty business Guy Carpenter…
Swiss Re flexes its muscles with GE acquisition
14 June 2006
Zurich-based reinsurer Swiss Re has completed the acquisition of GE Insurance Solutions, adding a bit more muscle to the world’s largest global reinsurer…
High hurricane chance for US
14 June 2006
This year’s US hurricane season has only just begun and already forecasting networks have predicted another active season, with landfall hurricane activity at 40% above…
Lloyd’s asbestos reserves boosted
14 June 2006
The run-off company for Lloyd’s claims, Equitas, has announced it has increased its reserves for asbestos claims by £128 million ($317 million) for the financial year to March…
Axa agrees to sell reinsurance unit
14 June 2006
Axa, has agreed to sell its reinsurance unit to a group of investors led by UK-based equity company Stone Point Capital…
Jitters as hurricane season begins
06 June 2006
The North American hurricane season kicked off last week with warnings that insurers should brace themselves for some big storm claims…
Lloyd’s tells industry to act on climate change
06 June 2006
A new report by Lloyd’s warns insurers to act now on manage the risks of climate change, or “risk being swept away” by the phenomenon…
US tort costs hit record $260 billion
06 June 2006
The cost of litigation in the US reached a record $US260 billion ($346 billion) in 2004 – about $US886 ($1177) per person in the US, according to the actuaries Tillinghast…