ING turns a tidy profit
18 May 2004
Fresh from selling off its general insurance assets in Australia, Dutch-based ING has announced a 32% rise in first-quarter profit of $US1.4 billion…
International
US expects a bad bushfire season
18 May 2004
The United States expects some western states to face a severe bushfire season this northern summer as a result of drought, reduced snowfall during winter…
Silverstein vows to move ahead
11 May 2004
World Trade Centre leaseholder Larry Silverstein is licking his wounds this week, having substantially failed to win his 30-month battle with insurers for a bigger…
Most WTC claims settled
11 May 2004
Meanwhile, the New York Insurance Association says the “vast majority” of 30,000 claims filed after September 11 have been settled…
Lloyd’s moves into expanded European Community
11 May 2004
Just days after 10 new member states joined the European Union last week, Lloyd’s has been given official clearance to write direct business in them…
Silverstein loses a bit, waits on Swiss Re
04 May 2004
Most of the insurers in the protracted World Trade Centre insurance case have been found by a jury to only have to pay for the two September 11 attacks as one event…
IOC insures Olympics for $232 million
04 May 2004
The International Olympic Committee has taken out a $232 million insurance policy against the Athens Olympic Games being cancelled…
Profits continue to climb
04 May 2004
US insurers’ first-quarter results are beginning to flow in, with the first few showing the recovery has been sustained…
Brokers face conflict of interest probe
04 May 2004
New York’s Attorney-General has subpoenaed Marsh, Aon and Willis to assist in an investigation of the way they are paid commissions by insurers…
Asbestos Bill may have far-reaching side-effects
27 April 2004
An initiative by Senate Republicans designed to head off an anticipated deluge of litigation against American corporations has met with bi-partisan resistance…
WTC jury hangs on
27 April 2004
The jury in the World Trade Centre insurance case is still out, and that should be worrying some insurers…
Lloyd’s chief warns of three hazards
20 April 2004
The global insurance industry faces three major challenges, says Lloyd’s Chairman Lord Levene – financial stability, service standards and the “culture of compensation”…
WTC jury ponders who will pay what
20 April 2004
The jury in the World Trade Centre insurance case has begun deliberating in a New York court after hearing weeks of often-colourful testimony…
R&SA looks at unexpected bid
20 April 2004
Troubled British insurer Royal & SunAlliance is considering selling a business unit it once thought of as “core” to its operations – its general insurance business in Scandinavia…
Insurers share claims data to catch frauds
20 April 2004
A central database set up by insurers in South Africa has cut up to $62 million in fraudulent claims…
Quake predicted to rock LA by September
20 April 2004
A University of California professor claiming to have cracked the mystery of accurate earthquake predication says it’s likely a massive earthquake reading at least 6.4 on the Richter scale will hit southern California by September…
Lloyd’s takes a big profit for 2003 (yes, 2003)
14 April 2004
Lloyd’s has posted a £1.89 billion profit for 2003 – 127% better than last year…
Twin Towers case evidence ends
14 April 2004
The consortium of insurers who covered the World Trade Centre in New York has completed their case on why they shouldn’t pay leaseholder Larry Silverstein twice…
US tries again with asbestos law
14 April 2004
US senators have succeeded in getting the contentious Fairness in Asbestos Injury Resolution Bill back on to the Senate agenda, after a year-long struggle…
Zurich revises its strategy
06 April 2004
Global insurer Zurich Financial Services has published the results of a comprehensive review of its life and general insurance operations…