Lloyd’s warns on globalisation risks
19 July 2010
The interconnected nature of finance and trade means risk can spread faster and further than ever before, according to Lloyd’s…
International
Record half for natural catastrophe losses
12 July 2010
An exceptional number of natural catastrophes during the first half of the year have led to record insured losses of $US22 billion ($25 billion), according to Munich Re…
A tough year predicted for Lloyd’s
12 July 2010
Lloyd’s of London has retained its strong credit rating despite predictions its combined ratio could rise to unprofitable levels this year…
FSA hands life ban to insurance executives
12 July 2010
The UK Financial Services Authority has given three London insurance executives lifetime bans for conspiring to defraud QBE Europe and other companies of £2 million…
Cost of risk declined last year
12 July 2010
The latest Risk and Insurance Management Society benchmark survey finds the average total cost of risk per $US1000 of revenue declined by 3.1% last year…
Global premium volume dips in 2009
05 July 2010
Global insurance premium volume dipped 1.1% last year, with general insurers showing greater resilience to the recession than their life insurance counterparts…
Oil spill compo fund to speed payouts
05 July 2010
Administrators of the $US20 billion ($24 million) Gulf of Mexico oil spill compensation fund have moved to speed up payments to victims…
US reinsurance rates decline
05 July 2010
Despite significant global catastrophe losses in the first half of this year, US reinsurance rates have continued to decline at the June 30 reinsurance renewal…
XL completes move to Ireland
05 July 2010
Former Canary Islands-based insurer XL Group has completed the relocation of its headquarters to Ireland…
US general insurers return to profit
28 June 2010
US property and casualty insurers returned to profit in the first quarter of this year despite a continuing decline in net written premium…
UK Government raises insurance taxes
28 June 2010
The UK Government has raised insurance taxes as part of a £40 billion ($68 billion) financial austerity package unveiled in last week’s emergency budget…
Lloyd’s boss outlines a year of ‘direct hits’
28 June 2010
Lloyd’s Chairman Lord Levene has outlined the considerable exposures faced by the London market, describing 2010 as a year of “direct hits”…
AIG’s Taiwan subsidiary sale delayed
28 June 2010
Taiwan regulators have delayed the $US2.15 billion ($2.46 billion) sale of AIG subsidiary Nan Shan Life in the latest impediment to the American insurer’s progress in selling non-core assets…
Axa sells part of UK life
28 June 2010
Global insurance giant Axa SA has finalised a deal to sell part of its UK life insurance division to investor Resolution for £2.75 billion ($4.75 billion)…
UK prudential regulator FSA to be scrapped
21 June 2010
The UK Government has announced its intention to scrap the Financial Services Authority and hand greater powers of scrutiny, including prudential regulation, to the Bank of England…
BP, Obama announce $23 billion clean-up fund
21 June 2010
BP will create a $US20 billion ($23 billion) fund for clean-up costs in the Gulf of Mexico in the first concrete agreement to pin blame solely on the British oil major…
British brokers face levy spike
21 June 2010
British insurance brokers are facing big hikes in compensation levies despite having little involvement in the financial products responsible for the rising cost of the scheme…
Flood map a French first
21 June 2010
A two-year project to map France’s plains and river systems has culminated in the country’s first comprehensive flood map…
Macquarie heads Quinn Insurance sale
21 June 2010
Macquarie Bank will oversee the sale of stricken Irish company Quinn Insurance…
Mega-earthquake risks identified
21 June 2010
A new report has identified northern Chile, among other regions, as being a “high risk” zone for future mega-earthquakes…