WTC saga: Silverstein loses latest round
01 October 2002
The terrorist attacks on the World Trade Centre last year have been adjudged by a New York court to be one event…
International
Major insurer dumps Texas home insurance market
01 October 2002
Farmers Insurance, one of the largest US general insurers, has moved out of the Texas homeowners’ insurance market, citing a $2.3 billion loss in the state over the past two years…
US counts the cost of crashes
01 October 2002
For those vehicle insurers lamenting their lot in the Australian market, vehicle crashes in the year 2000 cost the US more than $421 billion…
Scor drops Gerling
24 September 2002
French reinsurer Scor Re has stepped away from negotiations to buy Gerling Re’s life business and some non-life reinsurance operations…
Insurers pull out of China
24 September 2002
More than 20 foreign insurance companies which entered the China insurance market after the World Trade Organisation agreement was ratified are now pulling out…
Ireland bans contingency fee advertising
24 September 2002
Now it’s the Irish Government joining the attack on the compensation culture. It has announced new regulation banning lawyers from advertising for compensation business…
Brokers in UK warned
24 September 2002
Just a note for brokers and agents feeling a little harassed by all the compliance pressure…
Lloyd’s market votes for reform
17 September 2002
Lloyd’s of London has voted in favour of reforming its 314-year-old insurance business – but the victory could still be overturned by the Names…
Mendelsohn chopped by R&SA board
17 September 2002
Royal & SunAlliance in Britain has dumped global CEO Bob Mendelsohn…
Zurich does a drastic rethink
10 September 2002
It’s all bad news at Zurich, with the big Swiss financial services company announcing a $3.6 billion loss for the first half of 2002, compared with a profit of $1.5 billion…
Names say no as Lloyd’s vote looms
10 September 2002
The Lloyd’s reforms could be in trouble, with the largest voting bloc turning against the bold program set up by Lloyd’s Chairman Sax Riley…
UK insurers call for workers’ comp reform
10 September 2002
Workers’ compensation is under the microscope in Britain as the Association of British Insurers begins a campaign for fundamental long-term reform…
Scor makes a bid for Gerling Re
10 September 2002
French reinsurer Scor is holding discussions with Gerling on acquiring some of the German insurer’s reinsurance operations…
Axa follows the others down
10 September 2002
French insurer Axa has followed the international trend with a lower first-half profit well down on last year’s figures…
September 11 – nothing much left to say
10 September 2002
Tomorrow marks the first anniversary of the September 11 terrorist attacks on the United States…
Europeans take a dive, too
03 September 2002
Insurers and some reinsurers globally are seeing their profits eroding rapidly as the downturn in equity markets bites harder than increasing premiums can offset…
Munich Re shows how it’s done
03 September 2002
Amid the gloom and doom comes a stand-out result from Munich Re, which ended the first half with a net income of $7.5 billion, up on the $2.3 billion recorded…
Gerling Re gets out of the US
03 September 2002
Gerling has bitten the bullet on its disastrous reinsurance foray into the US market and put its US operation into run-off…
Mendelsohn may be the next R&SA asset to go
27 August 2002
Royal & SunAlliance in the UK remains under intense pressure to do something to reverse its plummeting share price and disappointing results…
WTC decision closer
27 August 2002
World Trade Centre leaseholder Larry Silverstein has been told that under no circumstances can he claim up $6.4 billion from Swiss Re…