And down goes Allianz, too
01 April 2003
Another leading German company has taken a hit, with Allianz and its core subsidiaries being dropped by ratings agency AM Best from AA++ to A+…
International
US businesses not interested in terror insurance
01 April 2003
Businesses in the United States don’t want to purchase terrorism policies, according to a report from insurers…
‘Mega-cities’ highest natural disaster risk
25 March 2003
A natural catastrophes study by reinsurer Munich Re has found that Tokyo is the most vulnerable city on earth, in terms of natural catastrophes…
Airlines still covered during Iraq war – but costs are up
25 March 2003
Insurers will still cover airlines flying to and from the Middle East after the breakout of war in Iraq last week…
Terror insurer fails from lack of public interest
25 March 2003
A specialist terrorism insurer set up by six big insurance and reinsurance groups last April has been forced to shut its doors because people weren’t prepared to pay its prices…
British brokers hit out over new rules
18 March 2003
The tug of war continues in the UK over its new regulatory regime, with the release of the Financial Services Authority Consultation Paper 160…
Buffett strikes again
18 March 2003
Comments from billionaire investor and reinsurance company owner Warren Buffett have created huge waves for Germany’s Gerling Group…
Go paperless, says Lloyd’s chairman
18 March 2003
Lloyd’s Chairman Lord Levene has called on underwriters and brokers to move away from the paper-bound system and embrace the 21st century…
Mould has reached its peak in US
11 March 2003
After about $4 billion in claims, the Great American Mould Disaster seems to be gradually disappearing…
R&SA begins a long climb back
11 March 2003
While Promina, for now the local branch of Royal & SunAlliance, gears itself up for its enormous Asia-Pacific asset sale, the London-based parent continues its horror run with investors…
Zurich predictably miserable, Axa happy
04 March 2003
European giant Zurich Financial posted a widely expected $5.5 billion net loss for 2002 on an operating profit of $1.7 billion…
Aviva turns out an impressive result
04 March 2003
London-based insurer Aviva – the former parent of CGU – has announced a 2002 general insurance profit of almost $2.5 billion…
What would you do after a terror attack?
04 March 2003
Just don’t mention the war…
Brokers move to premium finance
04 March 2003
Britain’s new Financial Services Authority is putting some big hurdles in the way of insurance brokers, with most small businesses given the same consumer protection status…
$90 billion later, US acts on asbestos claims
25 February 2003
The US Senate has introduced legislation intended to cut back the horrendous onslaught of asbestos suits rocking the insurance industry…
ING makes no promises after good 2002
25 February 2003
Dutch giant ING has recorded an operational profit for 2002 of $7.62 billion, almost equal to its 2001 results, but has refused to make any predictions for this year…
Americans support move to lower medical liability payouts
25 February 2003
A US poll shows that nearly 60% of Americans support the introduction of legislation to limit medical liability payouts…
British brokers get an FSRA-style ‘nightmare’
18 February 2003
Britain is following Australia into a complete overhaul of the general insurance industry, with the Financial Services Authority announcing that it will begin regulating general insurance…
AIG will post a profit despite losses
18 February 2003
After a shocker last week – announcing a $3.6 million charge for boosting claims reserves – AIG said this week it still expects to record a 2003 profit of around $16.6 billion…
Scor scores
18 February 2003
French Reinsurer Scor has recorded a 2.6% increase in gross written premiums for 2002, totalling around $9.1 billion…