Insurer-reinsurer gap worries S&P
15 April 2003
Asbestos exposures and resulting differences between insurers and reinsurers in the US are “getting ugly”, according to Standard & Poor’s…
International
Down go Europeans’ ratings
15 April 2003
The ratings agencies have bounced Europe’s major insurers’ share values further down the slippery slope with credit rating cuts…
Lloyd’s returns a profit for 2002…
08 April 2003
Lloyd’s has returned a profit for the first time in six years, and CEO Nick Prettejohn says it’s been made possible by the market’s “resilience and disciplined approach at a time…
… and battles reinsurers over its Central Fund
08 April 2003
But all’s not totally rosy at Lloyd’s at present…
Gerling reinsurance sale approved
08 April 2003
A Frankfurt court has approved the sale of Gerling’s reinsurance division to Globale Management, setting aside a ban on the sale imposed by the German financial services regulator…
Swiss Re predicts recovery
01 April 2003
No 2 reinsurer Swiss Re has predicted a swift return to profit after announcing a net loss of $109 million for 2002…
And down goes Allianz, too
01 April 2003
Another leading German company has taken a hit, with Allianz and its core subsidiaries being dropped by ratings agency AM Best from AA++ to A+…
US businesses not interested in terror insurance
01 April 2003
Businesses in the United States don’t want to purchase terrorism policies, according to a report from insurers…
‘Mega-cities’ highest natural disaster risk
25 March 2003
A natural catastrophes study by reinsurer Munich Re has found that Tokyo is the most vulnerable city on earth, in terms of natural catastrophes…
Airlines still covered during Iraq war – but costs are up
25 March 2003
Insurers will still cover airlines flying to and from the Middle East after the breakout of war in Iraq last week…
Terror insurer fails from lack of public interest
25 March 2003
A specialist terrorism insurer set up by six big insurance and reinsurance groups last April has been forced to shut its doors because people weren’t prepared to pay its prices…
British brokers hit out over new rules
18 March 2003
The tug of war continues in the UK over its new regulatory regime, with the release of the Financial Services Authority Consultation Paper 160…
Buffett strikes again
18 March 2003
Comments from billionaire investor and reinsurance company owner Warren Buffett have created huge waves for Germany’s Gerling Group…
Go paperless, says Lloyd’s chairman
18 March 2003
Lloyd’s Chairman Lord Levene has called on underwriters and brokers to move away from the paper-bound system and embrace the 21st century…
Mould has reached its peak in US
11 March 2003
After about $4 billion in claims, the Great American Mould Disaster seems to be gradually disappearing…
R&SA begins a long climb back
11 March 2003
While Promina, for now the local branch of Royal & SunAlliance, gears itself up for its enormous Asia-Pacific asset sale, the London-based parent continues its horror run with investors…
Zurich predictably miserable, Axa happy
04 March 2003
European giant Zurich Financial posted a widely expected $5.5 billion net loss for 2002 on an operating profit of $1.7 billion…
Aviva turns out an impressive result
04 March 2003
London-based insurer Aviva – the former parent of CGU – has announced a 2002 general insurance profit of almost $2.5 billion…
What would you do after a terror attack?
04 March 2003
Just don’t mention the war…
Brokers move to premium finance
04 March 2003
Britain’s new Financial Services Authority is putting some big hurdles in the way of insurance brokers, with most small businesses given the same consumer protection status…