UK brokers’ protests heeded
27 May 2003
British brokers appear to be closer to a compromise with the country’s Financial Services Authority, which wants to define any business turning over less than…
International
A bad summer for twisters
27 May 2003
Last week’s devastating windstorms in the central and south-eastern United States are the first sign that this northern summer is going to be a bad one…
Greenberg sees the bright side of SARS
20 May 2003
Maurice Greenberg, legendary CEO of AIG, has told shareholders that the outbreak of the deadly Severe Acute Respiratory Syndrome in Asia will boost life insurance sales in Asia…
Moody’s gloomy over US life
20 May 2003
Eight months after lowering its outlook for the US life insurance industry, ratings agency Moody’s has again served up more gloom…
… and general insurance isn’t too hot, either
20 May 2003
Fitch Ratings says the US property/casualty insurance industry is getting better – but that’s not really good enough…
Try domestic risk management, say US brokers
20 May 2003
Nearly 2.5 million US householders failed to have their property policies renewed this year, and the Independent Insurance Agents & Brokers of America…
Deutsche Bank gets out of Gerling
13 May 2003
Germany’s Deutsche Bank is giving up its 34.6% stake in ailing insurance and reinsurance company Gerling and taking up a stake in a reconstructed Gerling NCM…
Munich Re chief to quit
06 May 2003
Hans-Jurgen Schinzler, the Chairman of Munich Re, is calling it quits…
Airlines to blame for 9/11, say lawyers
06 May 2003
Sixty families of September 11 victims are making their first forays into court to see if they can hold responsible the airlines which owned the aircraft that hit the World Trade Centre…
Willis stays on upward curve
29 April 2003
Willis, the third-largest global broker, is riding high thanks to soaring premium rates. President and CEO Joe Plumeri announced in New York that the group’s revenue rose 23%…
No one’s sneezing at SARS
29 April 2003
Travel insurers are withdrawing cover for people wanting to travel to countries affected by Severe Acute Respiratory Syndrome…
UK insurers count cost of reform
29 April 2003
British insurers are joining brokers in opposing a key plank in the Blair Government’s Financial Services Authority reforms…
Lloyd’s doesn’t like US ‘alien’ rule
23 April 2003
Lloyd’s Chairman Lord Levene has called for an end to the US rule which requires foreign reinsurers to fund 100% of their gross liabilities in the US…
Gerling sale – on again, off again
23 April 2003
The sale of German reinsurer Gerling isn’t going according to plan, with the sales efforts of owner Rolf Gerling and Deutsche Bank reportedly coming unstuck…
Insurer-reinsurer gap worries S&P
15 April 2003
Asbestos exposures and resulting differences between insurers and reinsurers in the US are “getting ugly”, according to Standard & Poor’s…
Down go Europeans’ ratings
15 April 2003
The ratings agencies have bounced Europe’s major insurers’ share values further down the slippery slope with credit rating cuts…
Lloyd’s returns a profit for 2002…
08 April 2003
Lloyd’s has returned a profit for the first time in six years, and CEO Nick Prettejohn says it’s been made possible by the market’s “resilience and disciplined approach at a time…
… and battles reinsurers over its Central Fund
08 April 2003
But all’s not totally rosy at Lloyd’s at present…
Gerling reinsurance sale approved
08 April 2003
A Frankfurt court has approved the sale of Gerling’s reinsurance division to Globale Management, setting aside a ban on the sale imposed by the German financial services regulator…
Swiss Re predicts recovery
01 April 2003
No 2 reinsurer Swiss Re has predicted a swift return to profit after announcing a net loss of $109 million for 2002…