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”…
International
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…
UK works out more reform details
06 April 2004
Britain’s Financial Services Authority (FSA) has finalised the reporting requirements for general insurance, mortgage insurance and retail investment firms…
US insurers doing better
06 April 2004
US insurers have recorded a 10% jump in net operating income for 2003, according to ratings agency Fitch…
Oops! Actress was acting
06 April 2004
Japan’s state-run pension scheme, which is compulsory for citizens aged 20 to 59 – needed someone to front its new “get tough” advertising campaign…
Swiss Re recovers
30 March 2004
Swiss Re has confirmed its place at the top of the reinsurance pile with a net profit of $1.84 billion – a big improvement on last year’s $98.6 million loss…
Asbestos back on US Senate agenda
30 March 2004
After failing last year to gain support for legislation to control the runaway asbestos litigation problem, legislators are ready to try again…
Equitas settles with US insurers
30 March 2004
Equitas, the Lloyd’s vehicle for handling the market’s huge pre-1993 asbestos exposure, has reached a final settlement of all claims related to giant US insurer Travelers…
Silverstein tells of insurance snag
30 March 2004
World Trade Centre leaseholder Larry Silverstein finally got his day in the witness box late last week, but it was just for 30 minutes…
Silverstein lashes out, and lands in trouble
23 March 2004
World Trade Centre leaseholder Larry Silverstein narrowly avoided being barred from his own court case this morning…
Loss signals end to Munich Re’s three miserable years
23 March 2004
It used to be that the only reinsurers which made a loss were those on their way out, but that’s no longer the case…
UK freezes premium taxes
23 March 2004
British Chancellor of the Exchequer Gordon Brown has announced a freeze on insurance premium taxes, holding them at 5%…
Allianz still struggles to achieve success
23 March 2004
German insurer Allianz is still grappling with massive deficits in its operations…