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…
International
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…
Marsh gains China licence
06 February 2007
Marsh has won approval to open a wholly owned insurance broking company in China after the country fulfilled its commitment to the World Trade Organisation to open…
James to leave Lloyd’s
30 January 2007
Lloyd’s Director of Worldwide Markets Julian James is leaving the market to become Executive Chairman of the re-branded risk management business of Alexander Forbes, which US broker Lockton bought late last year…
European storm will cost industry billions
30 January 2007
Winter Storm Kyrill – the worst storm to hit Europe in eight years – will cost the industry between €4 billion ($6.7 billion) and €8 billion (13.4 billion), according to catastrophe modeler AIR Worldwide…
Political risks down slightly in 2007
30 January 2007
Despite coups in Fiji and Thailand last year, the world is looking its most politically stable in three years…
Aviva CEO to retire
30 January 2007
Aviva Group CEO Richard Harvey has announced his retirement on July 11, and the UK company’s board has named Finance Director Andrew Moss to succeed him…