New FSA boss backs principles-based regulation
17 July 2007
Hector Sants has been appointed head of the UK’s Financial Services Authority, three years after joining the regulator from the private sector…
International
UK reforms to benefit industry: Treasury
17 July 2007
UK insurers will operate under a lightened regulatory load after the Treasury approved a less intrusive role for the country’s FSA…
Aon: global terror patterns shifting
10 July 2007
Business must acknowledge the shifting patterns of terrorism and how they affect global revenue and supply chains, according to major broker Aon…
Profits up, premium growth down
10 July 2007
World life insurance markets are experiencing healthy growth this year, but the general insurance sector has proved stagnant, according to new research by Swiss Re…
EU revamps insurance regulation
10 July 2007
The European Union will have its first big overhaul of insurance regulation in 30 years when a common framework is unveiled this week…
England flood bill exceeds $3.5 billion
10 July 2007
Flooding throughout parts of England is expected to cost local insurers £1.5 billion ($3.5 billion), according to the Association of British Insurers…
M&A hunters going global
03 July 2007
The global consolidation scramble is only going to get more frantic, say industry analysts at KPMG…
UK floods may cost $2.4 billion
03 July 2007
The Association of British Insurers predicts insured damage from the flooding in England last week is expected to reach £1.1 billion ($2.4 billion)…
US premium growth weakest since 1992
03 July 2007
The US general insurance industry’s net income after taxes dropped 5.5% to $US15.8 billion ($18.5 billion) in the first quarter of this year…
FSA to regulate all travel insurance
03 July 2007
The UK Government intends to extend the responsibility of the Financial Services Authority so that it regulates travel insurance sold with a holiday…
Munich Re aims for climate-neutral status
03 July 2007
Munich Re – one of the first corporations to warn of the potential impacts of global warming in the early 1990s – is aiming for climate-neutral global reinsurance activities by 2012…
Lloyd’s market under review
26 June 2007
Government regulation of the UK-based Lloyd’s market could be relaxed, in conjunction with a wider review of the London insurance market…
Greenberg counter-sues AIG
26 June 2007
AIG founder and former CEO Maurice “Hank” Greenberg has counter-sued 16 current and former company directors in response to a $US1 billion ($1.8 billion) suit…
New financial services rules in the UK
26 June 2007
The loosening of financial services regulation in the UK does not give companies free rein to dishonestly market their services, the industry regulator has warned…
US terrorism legislation up for debate
26 June 2007
The US House of Representatives has introduced a bill that extends the current Terrorism Risk Insurance Extension Act, which is set to expire December 31…
AIG sues Hank Greenberg
19 June 2007
American International Group, has sued former CEO Maurice “Hank” Greenberg and former CFO Howard Smith in a case seeking more than $US1 billion ($1.18 billion) in damages…
Terror risk borne by governments
19 June 2007
Governments worldwide are picking up private sector slack in terrorism insurance, a new report has found…
Lloyd’s recruits manager for global business
19 June 2007
Lloyd’s has appointed Jose Ribeiro as its new Director of International Markets and Business Development…
UK brokers respond on commissions
13 June 2007
The Institute of Insurance Brokers has come out strongly in response to a questionnaire from the UK regulator, the Financial Services Authority, on commission disclosure…
Broker commissions unpopular: survey
13 June 2007
UK risk managers are against contingency-based payments for insurance brokers, but argue little has changed since US investigations into industry practices…