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International

R&SA result bolstered by sale

17 August 2004

The divestment strategy of troubled UK insurer Royal & SunAlliance have helped it turn the corner, with its management saying its half-year results and recent asset sales…

Florida faces massive insurance bill

17 August 2004

The damage caused by Hurricane Charley to insured property in Florida could reach as much as $US15 billion, according to insurance industry experts…

Rights group sues Marsh, Aon and Willis

17 August 2004

An insurance consumer rights group, which started in New York but is now based in San Francisco, is suing the three largest global brokers…

Global profit still on the rise

10 August 2004

Britain’s largest general insurer, Aviva, has beaten analysts’ expectations with a 37% increase in first-half operating profit, but it is still cautious about prospects for the UK…

Munich Re turns the corner, St Paul travels down

10 August 2004

Meanwhile, Munich Reinsurance has returned to form, recording a profit of €1.2 billion for the first half of this year, compared with a loss of €229 million for the corresponding period…

Profit news: up, up and away

03 August 2004

Premiums in the global insurance market might be softening, but the trend doesn’t seem to have had an adverse effect on profit…

Aon faces US class action suit

03 August 2004

No 2 broker Aon Corporation is facing a class action lawsuit in the US which alleges it breached its fiduciary duty by taking contingent commissions from insurers…

China’s insurance boom

03 August 2004

Driven by a surge in foreign investment, the Chinese insurance market has reached 1 trillion yuan in total assets…

AIG profits up by 25.7%

27 July 2004

New-York based global insurer American International Group has announced a profit increase of 25.7% to just over $US2.86 billion for the second quarter…

EnPro and Equitas settle on asbestos dispute

27 July 2004

US-based EnPro Industries and Lloyd’s vehicle Equitas have reached an agreement to settle the current and future insurance claims of EnPro subsidiaries against certain underwriters…

Senate may consider new asbestos fund plan

20 July 2004

US Senate Majority Leader Bill Frist is continuing with his push to resolve legal claims over asbestos exposure through a $190 billion fund financed by insurers and manufacturers…

Buffett finds value in Lloyd's consolidation

20 July 2004

Finance guru Warren Buffett is involved in a plan to merge small Lloyd’s syndicates, even though London market experts say such a consolidation is unlikely to occur…

JLT alerts firms of asbestos threat

13 July 2004

UK-based broker Jardine Lloyd Thompson has warned local firms they must address the new UK Government regulations on asbestos in the workplace…

Bush signs flood insurance into law

06 July 2004

Flood is a big issue in many parts of the United States, and President George W Bush was well aware that you don’t mess around with a flood relief program in an election year…

Capital requirements issued for UK insurers

06 July 2004

The UK Financial Services Authority is taking a hands-on approach to prudential regulation by setting a new set of capital requirement standards for British-based insurers…