Katrina the most expensive yet
06 September 2005
Insurers face record payouts, and some will experience record losses, after Hurricane Katrina laid waste to the US Gulf Coast last week…
International
Swiss Re warns on storms
06 September 2005
Devastating storms in Europe, which cost insurers €1 billion in January, may be more common in the future, according to Swiss Re…
New person at the Swiss Re helm
30 August 2005
Swiss Re has appointed a new CEO, Jacques Aigrain, to succeed Briton John Coomber, who will retire on December 31…
Europe braces for insurance investigation
30 August 2005
The European Commission’s remarkably thorough bureaucrats have called for tenders from economists prepared to examine the structure of the commission’s inquiry…
Hurricane Katrina may cost $US30 billion
30 August 2005
As Hurricane Katrina belts the daylights out of the south-eastern US, insurers are already bracing for some whopper payouts…
AIG turns the corner
23 August 2005
Accounting errors and the pain of taking a financial hit to set the record straight haven’t hurt American International Group too much…
Zurich’s life operations bring in the money
23 August 2005
Global insurer Zurich Financial Services recorded a 21% rise in first-half net profit thanks to improved life insurance and investment returns…
Willis back in business in China
23 August 2005
Willis is back in business in the Chinese province of Quandong after the Chinese Regulatory Commission lifted its licence suspension…
Sharing the risk responsibility
23 August 2005
The Association of British Insurers has called on all voluntary and community groups to develop effective risk management plans to avoid facing potentially crippling damage bills…
Europeans post tidy profits
16 August 2005
Global insurance rates may be trending down, but the latest major international insurers to report their June figures are showing the trend isn’t reflected in their returns…
Marsh broker investigated by grand jury
16 August 2005
A New York grand jury is investigating whether a former top insurance broker at Marsh participated in bid-rigging for corporate clients, according to the Wall Street Journal…
Greenberg attacks AIG
09 August 2005
Maurice “Hank” Greenberg – the ousted CEO of AIG – has slammed the new management of the company and its auditors, defending his role in the accounting irregularities…
Cost-cutting increases Aon’s profit
09 August 2005
Global broker Aon may have been targeted by the US regulators for its dealings in contingent commissions, but cutting costs has assisted the Chicago-based company…
US study gives contradictory messages about insurance market
09 August 2005
Pricing across the various classes of insurance in the US is giving mixed messages about the state of the market…
Reserve strengthening impacts Munich Re’s second-quarter
09 August 2005
Despite good overall half-year profits, Munich Re has reported a 74% decrease in profits for the second-quarter of the year, revealing the fallout from recent reserve strengthening…
Brokers dip, insurers do better
02 August 2005
With the global industry players beginning to release their June results, it’s obvious the fall-out from the Spitzer and other regulatory probes in the US is hitting brokers where it hurts…
Insurers brace for huge claims from Mumbai floods
02 August 2005
Indian insurers are bracing themselves for a massive insured damages bill after torrential rains and severe floods hit Mumbai, killing more than 1000 people…
Ace to fix finite problems
26 July 2005
The Eliot Spitzer juggernaut rolls on. International insurer Ace has come under the spotlight of the New York Attorney-General over its use of eight finite reinsurance contracts…
Asbestos bill has a chance
26 July 2005
In what has become an almost farcical endeavour, the slow-moving $US140 billion asbestos compensation fund bill is creeping closer to the Senate floor, where it needs to be debated…
TRIA tug-of-war under way
19 July 2005
With the expiry date for the US Terrorism Risk Insurance Act looming, the many interested parties involved in the issue are getting noisy in their calls for an extension…