MMC pays $465 million to settle legal action
16 November 2009
Marsh & McLennan has reached a $US435 million ($465 million) settlement over securities and other class actions filed against the global broker in 2004…
International
MMC back in black
09 November 2009
Third-quarter results for the global Marsh & McLennan group are more positive than last year, with the company reporting a net profit of $US221 million ($243 million)…
AIG records second straight profit
09 November 2009
Insurance giant AIG has posted its second straight quarterly profit, helped by a recovery in the value of its investments…
Munich Re posts $1 billion profit
09 November 2009
Munich Re has banked a third-quarter net profit of €651 million ($1.06 billion) as the global reinsurer continues to bounce back from the global economic downturn…
Swiss Re recovering with $362 million profit
09 November 2009
Global reinsurer Swiss Re continues to recover from last year’s $1 billion loss with a third-quarter net profit of CHF334 million ($362 million)…
Zurich third-quarter profit soars
09 November 2009
Global insurer Zurich has reported third-quarter operating profit of $US1.5 billion ($1.65 billion), up 138% over the same quarter last year…
Berkshire Hathaway triples quarterly profit
09 November 2009
Giant US investment company Berkshire Hathaway has tripled its third-quarter profit to $US3.2 billion ($3.5 billion) due to lower insurance costs and higher revenue from financial products…
Third-quarter boost for Hannover Re
09 November 2009
German reinsurer Hannover Re staged a strong turnaround in the third quarter, booking a net profit of €159 million ($256 million) this year, compared with a net loss of €395 million…
Climate change to increase UK losses
09 November 2009
A 25% jump in average annual windstorm insurance losses for the UK by 2060 is among the projections in a new report on climate change commissioned by…
UK insurers win compo scheme review
09 November 2009
British insurance brokers have welcomed the review of an industry compensation scheme following concerns insurers could be asked to carry the can for failed banks…
Airline premiums gaining altitude
09 November 2009
Insurance premiums for commercial airlines are on the rise, with October aviation renewals increasing about 30% compared to last year…
Axis books third-quarter loss
09 November 2009
Axis Capital Holdings has booked a third-quarter loss of $US96 million ($105 million) as growth in gross written premium was undermined by the increased liability of…
Berkley’s son named new president
09 November 2009
The son of the founder and CEO of US insurer WR Berkley is to take over as President and COO of the company…
ING to sell insurance operations
02 November 2009
Rescued Dutch bancassurer ING will sell its remaining insurance and investment management operations to focus on banking, mainly in Europe, by the end of 2013…
Global insurers cash in during third quarter
02 November 2009
Global insurers have witnessed resurgent fortunes during the third quarter as benign weather conditions in the US have helped fill company coffers…
Global broking sector stable: Moody’s
02 November 2009
Moody’s Investors Service has assigned a “stable” outlook to the global intermediary sector as brokers react to tough market conditions by cutting costs and conserving cash…
Aon, Gallagher results reflect tough quarter
02 November 2009
Global broker Aon has endured a difficult third quarter, earning a 3% increase in net profit of $US120 million ($135 million)…
Willis doubles third-quarter profits
02 November 2009
Global insurance broker Willis Group has reported a net income of $US78 million ($87 million) for the third quarter, more than double the $US36 million ($40 million) posted…
Bank may lose insurance businesses
02 November 2009
The Royal Bank of Scotland will probably be forced to sell its personal lines insurance operations as a condition of the bank’s hefty state bailout…
Former Marsh executives acquitted
02 November 2009
Three former Marsh brokers in the US have been acquitted of bid rigging-related charges that followed a 2005 investigation by then New York Attorney-General Eliot Spitzer…