Chile quake to rival LA for damages
08 March 2010
Insurance losses from the February 27 Chilean earthquake, which has killed nearly 1000 people and devastated the southern city of Concepcion, is poised to become the second most…
International
ING tries to buy time as QBE prowls
08 March 2010
QBE Group is said to be casting an acquisitive eye on the commercial insurance operations of Dutch company ING, but the sense of urgency for a sale may be softened by a reported elasticity…
Credit insurers must review practices: Coface
08 March 2010
The global financial crisis will force players in trade credit insurance to review their business models if they are to survive, according to leading trade credit insurer Coface…
Modest quarterly rise for Liberty Mutual
08 March 2010
American insurer Liberty Mutual has reported a 2% lift in net profit to $US456 million ($506.5 million) for the three months to December 31…
Berkshire underwriting profit falls
08 March 2010
US investment group Berkshire Hathaway has recorded a significant rise in total earned premiums from its insurance and reinsurance operations during 2009, but saw its underwriting profit plunge…
Savage windstorm batters Europe
08 March 2010
Damage from winter storm Xynthia, which devastated parts of France, Belgium, Germany and the Netherlands last week, will cost insurers up to €3 billion ($4.5 billion), according to risk modeller…
AIG reports another big loss
01 March 2010
AIG has indicated it may need more US Government aid to stay afloat after reporting an annual loss of $US10.9 billion ($12.1 billion)…
Chartis narrows loss in fourth quarter
01 March 2010
AIG’s rebranded general insurance division Chartis made a $US1.6 billion ($1.8 billion) pre-tax loss for the three months to December 31…
Allianz profit surges to $6.6 billion
01 March 2010
The Asia-Pacific operations of Allianz were among the property and casualty standouts as the German insurer reported a full-year net profit of €4.29 billion ($6.55 billion)…
UK brokers warned to bolster finances
01 March 2010
The UK Financial Services Authority has written to British insurance brokers warning them to strengthen their finances in the face of a “challenging business environment”…
UK beefs up support for asbestos victims
01 March 2010
UK residents exposed to asbestos will be assisted in bringing claims against their insurer under a range of measures announced by the UK Ministry of Justice…
Emerging China must insure, says Munich Re
01 March 2010
Insurance will be key to the economic and social development of natural catastrophe prone China as the market opens up, Munich Re says in a new report…
Swine flu watch as alert remains
01 March 2010
H1N1 swine flu may have vanished from the headlines but the World Health Organisation is holding steady with its highest-level phase 6 alert that classes the illness…
RBS slow and steady on path to recovery
01 March 2010
The Royal Bank of Scotland is “exceeding all milestones” in a long restructure process while posting a net loss of £3.6 billion ($6.17 billion) for fiscal 2009…
Willis stands firm over commissions
22 February 2010
Insurance brokers in the US are once again free to accept payments from insurers for steering clients into their products…
British brokers critical of regulation fee hike
22 February 2010
The British Insurance Brokers Association has criticised as “totally disproportionate” a plan by the UK regulator to impose a 10% hike on fees paid by UK financial services firms…
Swiss Re Q4 profit rounds off better year
22 February 2010
Swiss Re stormed back into the black in the December quarter last year with a CHF403 million ($610.5 million) net profit compared with 2008’s net loss of CHF1.75 billion…
US winter storms damage bill rises
22 February 2010
Severe winter storms in the eastern US this month have generated insured losses of more than $US2 billion ($2.23 billion) in total, according to preliminary estimates…
Reinsurance treaties rally for Hannover Re
22 February 2010
Hannover Re expects to increase its general reinsurance book by 3.5% after a “satisfactory” renewals period…
New venture for insurance trailblazer
22 February 2010
Aon founder Patrick Ryan is turning back the clock on his illustrious career, announcing a new venture that will see the septuagenarian back in the insurance game…