Asbestos Bill loses momentum
02 December 2003
The contentious Asbestos Bill has been put on hold in the US Senate, with the Democrats forcing it off the order paper until next year…
02 December 2003
The contentious Asbestos Bill has been put on hold in the US Senate, with the Democrats forcing it off the order paper until next year…
02 December 2003
A New York judge has set February 9 next year for the first in a series of trials intended to resolve the World Trade Centre claims dispute…
02 December 2003
Gerling Global Re still hasn’t been sold, thanks to the refusal of the New York Insurance Commissioner to ratify it…
02 December 2003
The US general insurance industry had an estimated reserve deficiency of between $63 billion and $106 billion at the end of last year, according to Fitch Ratings…
25 November 2003
The merger and acquisition game is on again in the US, with Minnesota’s The St Paul Companies reaching agreement to buy the much larger…
25 November 2003
Lloyd’s has made another big step towards moving to modern financial accounting by deciding to adopt the generally accepted accounting principles from January 1, 2005…
25 November 2003
Lloyd’s has also announced that a new form of slip for writing risks will come into operation in January…
25 November 2003
Higher premiums are slowly bringing the European insurance market back to profitability. Zurich Financial Services has reported a $1.9 billion profit for the first nine months of 2003…
25 November 2003
But it wasn’t all joy for the major European insurers. Struggling British insurer Royal & Sun Alliance has reported a $336.5 million after-tax loss for the first nine months…
25 November 2003
US conglomerate General Electric is getting rid of most of its life insurance and mortgage insurance businesses, with analysts suggesting it would be happy to see the rest go, too…
18 November 2003
The insurance companies of US investment company Berkshire Hathaway are returning to profit after a difficult couple of years, says billionaire Warren Buffett…
18 November 2003
Insurers in California say claims arising from the bushfires which swept through the state a few weeks ago are now expected to be the costliest in US history…
18 November 2003
Outsourcing of financial services jobs to Third World countries is going to increase over the next six years, according to British management consultancy Troika…
18 November 2003
Major insurance companies are still dragging the chain over organising better controls over risk measurement and capital management…
11 November 2003
Two years after the British Government began the overhaul of its financial services sector, it is already planning a wide-ranging review of the legislation that brought it into effect…
11 November 2003
British financial services companies are likely to move away from the distribution end of the business to concentrate on manufacturing products…
11 November 2003
After increasing reserves to accommodate some long-term claims, French reinsurer Scor has reported a net loss of $565 million for the first nine months of 2003…
11 November 2003
The Risk and Insurance Managers Society says commercial insurance buyers in the US reported many insurance premiums showed signs of stabilising in the third quarter…
11 November 2003
Much the same impression of the state of the market comes from a new report by the US Council of Insurance Agents & Brokers…
11 November 2003
Nearly 770 business interruption claims associated with the 9/11 disaster – with a loss exposure of about $12 billion – remain to be settled by insurers…