Crunching the second-quarter numbers
08 August 2006
The low insurance cycle has caused a mixed bag of results for the world’s big insurance and broking organisations’ financial results for the second quarter (and first half) of this year…
International
Maintaining profit main UK issue
08 August 2006
Maintaining profit throughout the UK insurance cycle is the hot issue for the year, with 83% of brokers believing it to be the greatest challenge, according to a new Lloyd’s report…
Lloyd’s insurers want action on broker fees
01 August 2006
Insurers in the 300 year-old Lloyd’s market have called on the UK’s Financial Services Authority to toughen its stance on broker commission disclosure…
Terrorism cover unaffordable, says RIMS
01 August 2006
The Risk and Insurance Management Society has told US legislators that obtaining terrorism insurance without federal assistance would not be practicable or affordable…
US looks at a natural catastrophe fund
01 August 2006
Meanwhile, legislation has been introduced before the US Congress to create a commission to examine and work out the best structure for a national catastrophe fund…
New insurance fraud watchdog on the case
01 August 2006
The Association of British Insurers has launched a new “Insurance Fraud Bureau” to expose organised insurance frauds…
$86.5 billion: the cost of a New York storm
25 July 2006
A storm hitting New York City this hurricane season could cause up to $US65 billion ($A86.5 billion) in insured damage, Lloyd’s America President Wendy Baker has warned…
US coastal rates still high
25 July 2006
Almost a year has passed since Hurricane Katrina struck the US, yet coastal commercial property insurance rates are still causing pain, up 300-600% for the second quarter…
Contentious US legislation mooted
25 July 2006
US legislation that allows life and property/casualty insurers to choose federal rather than state charters under an “optional federal charter” regulatory system may soon be introduced…
Canada at risk
18 July 2006
Canadian businesses are ill-prepared for climate change and will need to do more to adapt to the implications of global warming, according to Lloyd’s Chairman Lord Peter Levene…
Swiss Re cuts jobs
18 July 2006
Swiss Re will reduce its global workforce 17.5% by 2007 through layoffs and attrition as a result of its takeover of GE Insurance late last year…
Swiss Re predicts insurance profit rise
18 July 2006
Swiss Re expects global insurance industry profits to increase this year…
Heath Lambert backs out of merger
18 July 2006
Merger talks between London-based brokers Jardine Lloyd Thompson and Heath Lambert have been called off…
US told to prepare for big, big losses
18 July 2006
The US could face insured losses of $US100 billion ($133 billion) in a single year from catastrophic events in the near future, according to the Insurance Information Institute…
Aviva buys AmerUs
18 July 2006
UK Insurer Aviva has confirmed its acquisition of US life insurer AmerUs…
Credit Suisse delivers proceeds to shareholders
11 July 2006
Once you’ve sold a large international insurance company, what do you do with the proceeds of the sale..?
Aviva in AmerUs talks
11 July 2006
Aviva, the UK’s largest insurance group, is feeling amorous…
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%…
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…