China ensures the future of open market
02 July 2002
A draft amendment intended to bring China into line with the World Trade Organisation was presented to the National People’s Congress in Beijing last week…
International
Rise in estimated property claims from Sept 11
24 June 2002
New figures released by the Insurance Services Office in New York estimate that the Sept 11 attacks will cost property insurers more than $40 billion – 22% more…
Lord Levene next to lead Lloyd’s
17 June 2002
Lord Levene of Portsoken, a former Lord Mayor of London, will replace Sax Riley as Chairman of Lloyd’s at the end of the year…
No gambling on medical indemnity
17 June 2002
Australia isn’t the only place having a few problems with medical indemnity insurance, and the argument isn’t very different, either…
200 British insurers at risk
17 June 2002
US ratings agency Fitch has raised concerns about the financial health of 200 general insurers, which it claims have been placed in “higher risk” categories by the regulator…
Another R&SA non-general asset sold
17 June 2002
Meanwhile, Royal & SunAlliance has sold another asset as it continues with its $2.1 billion disposal program that will leave it as a general insurer…
India goes slow for brokers
17 June 2002
Brokers in the rapidly liberalising Indian insurance market won’t be allowed to collect premiums or manage claims under new legislation being debated by the country’s parliament…
R&SA agrees to recovery plan
11 June 2002
Royal & SunAlliance CEO Bob Mendelsohn has had a tough job keeping the company ahead of an ailing stock price and disappointing returns over the past couple of years…
US begins terrorism bill debate
11 June 2002
A terrorism bill has been introduced into the US Senate by a group of senators from the Democratic Party, and Majority Leader Tom Daschle has promised swift passage of the legislation…
Japan’s life industry continues to weaken
11 June 2002
Japan’s life insurance industry is still in terrible shape, according to the latest reports collated by ratings agency Standard & Poor’s…
Munich Re becomes an ART dealer
04 June 2002
It has been a player before, but now Munich Re is moving into the alternative risk transfer market in a big way…
IP woes for World Cup sponsors
04 June 2002
World Cup sponsors’ brand values could diminish if planned protests against them go ahead, an intellectual property expert has warned…
NZ will soon feel the brunt of September 11
28 May 2002
Rising rates and a capacity shortage are beginning to be felt in New Zealand, a year after Australia was hit…
CGNU faces opposition over new name
28 May 2002
Forget the Toronto-based Jewish lesbian collective named Aviva – now some big guns are ranging against CGNU’s change of name…
Names get the better of Lloyd’s
28 May 2002
After much pressure from influential Names Lloyd’s has decided to scrap its plan to buy out wealthy individual investors…
World Cup takes Japan by storm
28 May 2002
Japanese businesses are taking advantage of weather derivatives – a recently introduced financial tool…
AIG gets life licence in China
28 May 2002
American International Group has been granted a licence to sell life insurance in Beijing…
Storms bring in huge bill for US insurers
28 May 2002
US insurers will pay out $1.4 billion for claims resulting from April storms…
Insurers warned of market “disconnect”
21 May 2002
Insurers have been put on notice to fulfill their role as carriers of risk or be replaced in an evolving industry…
Zurich finds a new CEO
21 May 2002
After months of uncertainty, Europe’s third-largest insurer, Zurich Financial Services, has given the CEO’s job to American Jim Schiro…