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…
International
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…
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…