Miami centre of horror scenario
20 August 2002
While the insurance world prepares for a string of “September 11 one year later” seminars, there’s another anniversary approaching that in its own way is of equal significance…
International
Pearl chopped by AM Best
20 August 2002
AMP’s Pearl Assurance unit in the UK is one of eight British life insurers to have its rating downgraded by AM Best…
Aviva profits jump 13%
13 August 2002
Aviva, the former CGNU, has announced a 13% rise in operating profit for the first six months of last year to $1.3 billion…
S&P revises Aon’s ratings outlook
13 August 2002
Giant US-based broker Aon has had its ratings outlook revised from “stable” to “negative” by Standard & Poor’s following the company’s disappointing second-quarter earnings…
Silverstein puts in WTC settlement offer
13 August 2002
World Trade Centre leasee Larry Silverstein, the man at the centre of the multi-billion dollar lawsuit over insurance coverage for the September 11 attack/s, may be willing to…
Berkshire Hathaway booming
13 August 2002
Billionaire US investor Warren Buffett can thank rising insurance premiums for the 35% rise in profit enjoyed over the second quarter by his Berkshire Hathaway group…
Happiness is rare in UK insurance
13 August 2002
A study carried out by a British financial services recruitment specialist has revealed that about 33% of the British insurance industry would leave their jobs if they could…
Lloyd’s Names – not happy
06 August 2002
The newly announced Lloyd’s market reforms are merely “smokescreens”, meaning no real change in power at all…
Pool Re expansion welcomed
06 August 2002
The Association of British Insurers and UK risk managers’ association AIRMIC have both welcomed the UK Treasury’s decision to expand Pool Re…
JLT comes in a winner
06 August 2002
British brokers Jardine Lloyd Thompson Group has announced a 20% rise in half yearly profits…
Chubb Insurance reaps rewards too
06 August 2002
It looks like the hard market is rewarding more than one global insurer, with US insurer Chubb announcing a rise in net quarterly income of about $397 million compared to…
Outlook negative for NZ insurer
06 August 2002
CGNU (sorry, Aviva)-owned New Zealand Insurance has been downgraded by Standard and Poor’s from AA to AA- with a negative outlook…
Euro life insurers okay
06 August 2002
There is nothing wrong with the European life insurance industry, according to international rating agency Fitch…
Pool Re changed
30 July 2002
Pool Re, the British insurance pool being studied by Australian legislators and the local insurance industry, is to be expanded…
AIG enjoys rise
30 July 2002
While some of the middle-market players are feeling the heat, AIG is proving right those economists who say the giants of the insurance industry will recover first…
Marsh records a sound profit
30 July 2002
The flow-on effect is proving beneficial to mega-broker Marsh, which has reported a 15% increase in its second-quarter earnings…
Foiled again, but Names battle on
30 July 2002
The Lloyd’s Names who have fought a marathon series of court battles against the market with allegations of fraud have again been rebuffed by the British Court of Appeal…
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…
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…