AIG boss to resign
25 May 2009
AIG Chairman and CEO Edward Liddy has announced his resignation less than a year after his appointment by the US Government...
International
Horror year for Japanese insurers
25 May 2009
Japan’s top four general insurers have reported a painful 12 months to March 31, each ravaged by investment writedowns and difficult market conditions...
European insurers face compulsory stress test
25 May 2009
Europe’s 30 biggest insurers will be stress tested next year to determine their ability to withstand the global financial crisis, according to a leading insurance supervisor...
Lloyd’s moves into Portugal
25 May 2009
Lloyd’s has been granted a licence to write business in Portugal...
UK premiums stay low despite tighter margins
18 May 2009
UK firms are set to benefit from low insurance premiums during second-quarter renewals as insurers chase volume at all costs...
American insurers strong ahead of hurricanes
18 May 2009
US general insurers are in a strong capital position ahead of the hurricane season beginning next month, according to the Insurance Information Institute...
Weak insurance demand hurts ING
18 May 2009
Dutch banking and insurance company ING has recorded a first-quarter loss of €793 million ($1.4 billion) as insurance activities plunged the firm into the red...
Insurance jobs plummet in US
18 May 2009
US insurance jobs fell by 4000 in April as unemployment in the industry soars...
Generali quarterly profits fall 89%
18 May 2009
Italy’s largest insurer Generali has reported its first-quarter profits sank 89% to €103.8 million ($187 million) compared with €910.3 million ($1.64 billion) in the corresponding period last year...
Bushfires add to reinsurers’ first-quarter misery
11 May 2009
Victoria’s Black Saturday bushfires have helped depress the first-quarter results of two major German reinsurers...
Swiss Re makes a quarterly profit
11 May 2009
Global reinsurer Swiss Re is working its way out of the red, posting a first-quarter profit on the back of its shocking $1 billion loss last year...
Zurich profit slides 75%
11 May 2009
Zurich Financial Services has reported a 75% slump in first-quarter profit of $US362 million ($480 million), driven largely by a $US1 billion ($1.3 billion) writedown in group investments...
Tough quarter for Berkshire Hathaway
11 May 2009
Insurance was a comparatively bright spot for Berkshire Hathaway in the first quarter this year, even though Victoria’s bushfires took their toll on reinsurance at General Re...
MMC returns to profitability
11 May 2009
Marsh & McLennan has reported a $US176 million ($234 million) first-quarter profit as operating income from its risk and insurance division climbed 27%...
…and Gallagher quarterly earnings turn to profit
11 May 2009
Global brokerage Arthur J Gallagher has reported impressive first-quarter results of a $US26.4 million ($34.3 million) profit up from its net loss of $US6 million ($7.8 million) for the...
Solvency II regulations get the green light
11 May 2009
The European Union has formally approved the Solvency II Framework Directive, clearing the way for consistent insurance regulation across Europe...
Crawford profit down 66%
11 May 2009
International loss adjuster Crawford & Company has posted a first-quarter net income down 66% from last year – from $US9.1 million ($12.07 million) to just $US3.1 million ($4.1 million)...
Don’t treat insurers like banks: Lloyd’s CFO
11 May 2009
Lloyd’s CFO Luke Savage has urged governments not to put insurance in the same category as the banks as they try to fix the financial services sector...
Catastrophes natural and financial hurt Liberty
11 May 2009
Investment writedowns and catastrophe losses caught up with US insurer Liberty Mutual in the first quarter, driving net profit down 92.2% compared with the corresponding period last year...
AIG’s insurance unit gets set for a name change
04 May 2009
The choice of a new name for AIG’s global general insurance company has come down to a shortlist of two or three, with senior officers now confirming the spin-off won’t be using the existing name...