St Paul asbestos payout causes high earnings loss
30 July 2002
US insurer The St Paul is continuing to struggle in the face of massive claims following – but not confined to – September 11…
International
US Eurostock sellout affects European insurers
30 July 2002
The insurance industry hasn’t often had to face problems with declining capacity, underwriting losses and falling equity returns all at the same time…
Lloyd’s goes for big changes
23 July 2002
Lloyd’s Chairman Sax Riley is expected to announce later this week changes involving thousands of “inactive” Lloyd’s Names who want to get out of the market…
FSA says UK is better regulated than US
23 July 2002
Britain’s key financial regulator, the Financial Services Authority, has tried to ease investor fears about worldwide corporate collapses and scandals, saying the UK is better regulated…
Allstate conquering allfinanz
23 July 2002
Looking for an example of allfinanz that works..?
Japan set to abandon terror fund plan
23 July 2002
Japan’s non-life insurers have turned their backs on plans to set up a terrorism fund, a move that could disadvantage Japanese insurers compared to their European and US competitors…
Weather changes affect communities
23 July 2002
Small changes in the weather such as slight temperature increases can have a dramatic effect on the community, similar to that of natural disasters…
Singapore insurers to come under scrutiny
23 July 2002
APRA’s new prudential requirements have formed the basis for corporate governance rules to be introduced in Singapore for the insurance industry later this year…
NY Bill will encourage fraud
16 July 2002
There’s trouble in New York’s uneasy motor vehicle insurance market, where insurers have refused to handle cover that is approved by a new state law…
Asbestos rewards: a lawsuit too far
16 July 2002
Only in America? We hope so…
Urgent calls for aviation pool
16 July 2002
As one European country cut its airlines off from government-back terrorism cover, aviation insurers are calling on the British Government not to follow suit…
GE halts sell-off
16 July 2002
General Electric Co has halted – or at least delayed – plans to split off its general insurance operations, the Wall Street Journal reported…
St Paul’s plans stalled again
16 July 2002
The St Paul has again postponed plans to spin off its reinsurance business into a new Bermuda firm called Platinum Underwriters Holdings…
Munich tops up American Re
16 July 2002
American Re, an arm of No 1 reinsurer Munich Re, is receiving a $2 billion funds transfusion to keep its reserves healthy…
UK life insurers move closer to securitisation
09 July 2002
Financial reinsurance is useful and logical, although recent revelations at the HIH Royal Commission have brought it into some disrepute…
WTC asbestos fears rise again
09 July 2002
Two preliminary studies have found that Ground-Zero recovery workers in New York may have little to fear concerning heavy metal and dangerous chemical compounds…
California drops toxic mould bill
09 July 2002
How dangerous is toxic mould, and why is it costing US insurers billions in claims..?
EU extends deadline
09 July 2002
The European Commission has extended the period EU member states can offer war risk insurance to airlines until October 31…
Insurers exposed to the WorldCom affair
09 July 2002
Ratings agency Fitch has warned that US insurers have an exposure of more than $8.9 billion of direct investment to collapsed communications giant WorldCom…
US homeowners are paying more
02 July 2002
An extraordinary number of catastrophes, the high cost of repairs and excessive jury awards due to the emergence of toxic mould claims have pushed the cost of US householders…