Allianz returns to profit
19 August 2003
The beating being experienced by Germany’s once-impregnable financial services giants is showing signs of abating, with Allianz reporting its first profit in more than a year…
International
Power cut claims will be ‘modest’
19 August 2003
The power outage which left about 30 million US and Canadian citizens without power for most of last Thursday won’t lead to big insurance claims…
Aon turns around
12 August 2003
Patrick Ryan, Chairman and CEO of global broker Aon, had every reason to smile last week when he announced an 86% rise in the group’s net income in the first half of 2003…
Reinsurers still in trouble: S&P’s
12 August 2003
Standard & Poor’s says North American reinsurers face a “negative” outlook, with rate increases in the global reinsurance market failing to stem the downward pressure…
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…
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…