Premiums: up and down, but mainly up
12 August 2003
Major US risk management group Assurex Global says the commercial insurance middle market – risks with premiums between $US10,000-$15,000 – will enjoy lower rate increases…
International
Swiss Re moves on Zurich Life
12 August 2003
Swiss insurer Zurich Financial Services CEO James Schiro is continuing to sell off the company’s non-core assets, selling its British life insurance operations to Swiss Re…
Accounting standards: first shots fired
05 August 2003
The first draft of controversial new international accounting standards for insurers has been released in London, promising to bring great change to the way insurers present…
Germans protest their innocence
05 August 2003
The seven major German insurers accused of fixing policy prices for industrial clients are continuing to maintain their innocence…
Former Lloyd’s chief Sax Riley dies
29 July 2003
The architect of reform at Lloyd’s, former chairman Sax Riley, died suddenly on Friday. Mr Riley, 62, the immediate past chairman of Lloyd’s, retired last year…
Silverstein begins appeal
29 July 2003
Larry Silverstein, the leaseholder of New York’s toppled Twin Towers, has begun his appeal against a court decision that the September 11 disaster was one incident…
Rates levelling, but not softening
29 July 2003
The US-based Council of Insurance Agents & Brokers (CIAB) says there are “signs that an appetite for new business is returning to the insurance marketplace”…
German insurers accused of price-fixing
29 July 2003
Is it a case of collusion, or just a case of the regulator not understanding insurance…?
Gerling gets a handout
29 July 2003
Troubled German insurer Gerling appears to have secured its future with a promise by local investors to fund the company to a level sufficient to obtain a Standard & Poor’s ratings…
Mould claims capped
29 July 2003
Florida’s legislature has moved quickly to head off mould claims similar to those which have crippled the insurance industry in Texas…
Willis pulls in 200% more profit
29 July 2003
The No 3 global broker, Willis, has returned another big result for the first six months of this year, with a 200% profit rise…
US making moves to tort reform
22 July 2003
Tort reform for the United States…?
New York tries some risk transfer
22 July 2003
New York Mayor Michael Bloomberg has found a way to deal with slippery pavements that have cost the city hundreds of millions of dollars in lawsuits…
Lunch with Warren Buffett: priceless
15 July 2003
If you really want to get some insights into what’s going on in the insurance world, we suggest you get seven friends to join you in bidding for lunch with legendary industry investor…
Asbestos bill is doomed, says Greenberg
15 July 2003
Leading US insurers don’t believe the asbestos bill being prepared in the US Senate will even make it to the debating stage, says Sunrise Exchange News reporter Monique Hodgetts…
Tiner takes over at Britain’s FSA
15 July 2003
Britain’s Treasury has stepped away from the traditional civil service to find a new CEO for the Financial Services Authority, plumping instead for former Arthur Andersen consultant…
Munich Re gets its China licence
15 July 2003
Swiss Re has lost the race to be the first international reinsurer to get its operating licence from the Chinese Government, pipped at the post by Munich Re…
Health plan costs trap US employers
15 July 2003
US employers who pay for their employees’ health insurance as part of their salary package are being caught up in the country’s rising medical expenses problems…
AIG bulks up in Japan life market
15 July 2003
American International Group’s decision to buy two GE-owned insurance businesses at once gives some idea of the group’s awesome financial strength…
FSA softens rules for small business
08 July 2003
British brokers are breathing sighs of relief following a decision last week by the Financial Services Authority to drop its plan to give small businesses the same status…