Reinsurers find new ways to spread the load
07 August 2001
Zurich Re has sold its first “catastrophe bonds”, matching its exposure to US and European windstorms and a California earthquake…
International
Insurance surcharge for Sri Lanka
07 August 2001
Airlines flying into Sri Lanka now face a massive surcharge after three commercial jets were destroyed by suicide bombers at Colombo airport…
Lloyd’s faces new rash of asbestos worries
31 July 2001
Asbestos claims, which nearly decimated the Lloyd’s market and bankrupted many Names in the late 1980s and early 1990s, are beginning to impact on the market again…
Misys earnings up, but stock price down
31 July 2001
British IT giant Misys has seen its share price on the British stock exchange plummet nearly 30% despite posting a very respectable 22% profit increase last year…
Singapore deal gives CGNU 4 million potential customers
31 July 2001
British insurer CGNU has completed a bancassurance partnership deal with major Singapore bank DBS Group…
Zurich still on target
24 July 2001
International group Zurich Financial Services is battling the combined influences of weak financial markets, a strong US dollar and big catastrophe payouts to stick to its profit…
No deal, says Fortis
24 July 2001
Fresh from retreating from the Australian insurance market, Dutch – Belgian Group Fortis is not commenting on the renewed rumours of merger talks with British bank Lloyds…
EU v AIG + US = WTO no go
24 July 2001
American International Group, founded in Shanghai but now centred in New York, is providing a stumbling block to China’s entry into the World Trade Organisation…
CGNU signs on for e-links
24 July 2001
British telecommunications giant Cable & Wireless is moving out of the Australian market as it drops its share of Optus, but its new strategic direction – business telecom…
NZ Fire Service levy – are you liable?
17 July 2001
The NZ Fire Service levy can trap people and organisations who live overseas, according to that country’s largest broker organisation…
Swiss Re/Tokio Marine deal cuts exposure
17 July 2001
Swiss Re and Tokio Marine & Fire Insurance have announced a unique deal to cut capital costs…
AMP subsidiary faces loss of business
17 July 2001
A takeover bid in Britain is threatening a major AMP funds management unit’s business.…
NRMA’S Kiwi operation gets a rating
17 July 2001
NRMA’s New Zealand operation has been given an A–+ short-term rating by Standard & Poor’s…
Storms set us cat record tumbling
17 July 2001
The number of catastrophes hitting US properties has been trending down for the past five years – until the second quarter of this year, that is…
Allianz looks west
17 July 2001
Europe’s largest insurer, Allianz, is completing its $41.3 billion takeover of Dresdner Bank and making clear its expansion plans are centred on the US…
Brokers win round one in council stoush
10 July 2001
British brokers who have resisted signing up for the General Insurance Standards Council have won their first victory in their battle against the umbrella organisation…
Builders hit by independent crash
10 July 2001
The collapse of Britain’s Independent Insurance has many parallels with Australia’s HIH collapse – including major problems for builders…
Germany ups the cost of sickly health system
10 July 2001
Germany is taking moves to cut massive costs in its health care system…
Hope at last for Japan’s life insurers
10 July 2001
Ailing Japanese life insurers have had a lifeline thrown to them by the Government…
UK insurer takes a tumble
03 July 2001
While the HIH drama has been the focus of attention in Australia, the British insurance market is also experiencing the collapse of a major insurer…