Insurance market nears $5.5 trillion in 2010
29 March 2010
Global insurance premiums will top nearly $US5 trillion ($5.5 trillion) this year, driven by emerging economies in Asia and stabilising western markets…
International
AIG executive quits on pay caps
29 March 2010
Pay caps imposed by the US Government on America’s top companies are not causing an exodus of staff, the US Treasury says…
UK insurance sector gets ratings upgrade
29 March 2010
Ratings agency Fitch has upgraded the UK general insurance market’s position…
Claims review may save UK industry billions
29 March 2010
Inefficient claims processes are costing UK insurers more than £1 billion ($1.6 billion) each year, new research suggests…
Global reinsurance market ‘in good shape’
29 March 2010
The global reinsurance market has returned to its peak following a dramatic increase in insurer and reinsurer capital, according to Aon Benfield…
Disasters wreak $68 billion in havoc in 2009
22 March 2010
Natural catastrophes and man-made disasters cost a total of $US62 billion ($68 billion) during a relatively benign 2009, according to Swiss Re…
Stress tests reveal European insurers in good shape
22 March 2010
European insurers have proved they are strong enough to withstand a serious financial crisis, a regional supervisory group has announced following recent stress testing…
Reinsurer share sale raises nearly $500 million for AIG
22 March 2010
AIG has grossed about $US452 million ($492.3 million) from a further sell-down of its stake in reinsurer Transatlantic Holdings…
US federal regulation in the spotlight again
22 March 2010
Federal regulation of the US insurance industry is looming ever closer following proposed legislation released last week…
US commercial premiums flat in Q4
22 March 2010
Heavy competition continued to keep US commercial insurance rates flat during the fourth quarter, according to global financial services firm Towers Watson…
UK backs down on dog attack cover
22 March 2010
British dog owners have been spared the prospect of compulsory third party insurance covering attacks by their animals…
AIG unloads life insurance to MetLife
15 March 2010
The fire sale of AIG assets has accelerated with the divestment of the American insurer’s life arm for $US15.5 billion ($16.9 billion)…
UK declares a higher bar for industry
15 March 2010
Britain’s Chartered Insurance Institute has launched a project called the Aldermanbury Declaration, aimed at improving professional standards for general insurers…
Chile quake losses could top $11 billion
15 March 2010
Insured losses from the devastating Chilean earthquake are expected to reach between $US4-10 billion ($4.4-11 billion), according to reinsurers…
Xynthia claims set to reach $2 billion
15 March 2010
Powerful storms which lashed Europe last month will cost insurers around $2 billion in claims…
QBE Europe sees continuing soft market globally
15 March 2010
A global soft market continuing for the next 12-18 months is the outlook from QBE in Europe, according to a trade media report…
Potential buyers circle Kroll
15 March 2010
Marsh & McLennan has reportedly attracted a field of private equity buyers for its corporate investigations unit Kroll with a price tag of $US1.3 billion ($1.4 billion)…
Fortis slides as rebrand looms
15 March 2010
Belgian insurer Fortis has recorded annual net profit of €1.19 billion ($1.79 billion) as it rebounds to profitability after a perilous 2008…
US commercial rates maintain slide
15 March 2010
American commercial property and casualty rates continued to soften last month, with the electronic insurance exchange MarketScout saying there has been a 5% drop…
Canadian P&C insurers return to profitability
15 March 2010
Canadian property and casualty insurers have returned to profitability in 2009, with a survey of 39 firms revealing a collective underwriting profit of $C213 million ($227 million)…