AIG garage sale continues
15 June 2009
Bits and pieces of AIG continue to be sold off in a bid to pay back American taxpayers for the $US180 billion ($222 billion) government rescue...
International
Regulation of UK industry set to intensify
15 June 2009
The UK insurance industry will escape the “regulation revolution” facing banks but can expect closer scrutiny from regulators in coming years...
Insurer in breach over stolen laptop
15 June 2009
The UK’s Information Commissioner’s Office has found legal expenses insurer Amicus Legal in breach of the Data Protection Act after it reported a laptop containing...
International regulators run the rule over global downturn
15 June 2009
A fragile banking system, outsourced risk and sheer greed have been cited as some of the root causes of the global financial crisis at an international conference of regulators...
Axa hacks into UK jobs
15 June 2009
About 560 jobs will get the chop over the next few months at Axa’s UK general insurance subsidiary...
Australia’s terrorism threat lowered
09 June 2009
Global broker Aon’s latest terrorism threat map shows a more settled outlook for Australia...
Climate change lawsuits ‘may outpace asbestos’
09 June 2009
Swiss Re says class action lawsuits related to climate change could develop more rapidly than those for asbestos, and it is monitoring developments closely for their insurance implications...
Marine insurance rates continue to soar
09 June 2009
Marine insurers are juggling falling revenues, lower premium volumes and decreased investment incomes, so not surprisingly rate increases will continue...
Lloyd’s insurer picks up Fortis corporate unit
09 June 2009
Lloyd’s market insurer Amlin has agreed to buy Fortis Corporate Insurance from the Dutch Government for €350 million ($616 million), attracted by its large commercial portfolio...
Air France disaster could result in $US1 billion liability
09 June 2009
The loss of Air France flight AF447 in the mid-Atlantic last week could result in insured losses of more than $US1 billion ($1.25 billion), according to international industry observers...
Same industry, same number of letters: Aon replaces AIG
09 June 2009
Aon is taking over sponsorship of English soccer team Manchester United after AIG earlier announced it will not renew its contract with the club...
Texas bulks up insurance fund
09 June 2009
Lawmakers in Texas have approved plans to replenish a state insurance scheme after Hurricanes Ike and Dolly depleted the fund last year...
Competition keeps lid on UK rates
01 June 2009
Competition and new players in some lines are continuing to keep UK commercial insurance rates down, Marsh says in a report on the first quarter...
Munich Re cautions Italy on climate change risks
01 June 2009
Munich Re has warned Italians that while statistical data doesn’t indicate a trend towards a rise in weather catastrophes, increasing drought, floods and heat will leave an impression...
Scottish asbestos law review begins
01 June 2009
A bid by British insurers to overturn a new Scottish asbestos compensation law gathered pace last week when a judicial review convened in Edinburgh...
UK brokers still face disclosure threat
01 June 2009
The UK Institute of Insurance Brokers has urged its members to adopt new industry transparency guidelines, warning that mandatory disclosure could be forced on British brokers...
Moody’s upbeat on life insurance
01 June 2009
Ratings agency Moody’s has offered a note of hope to global life insurers and life reinsurers, saying the industry is strong and solvent...
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...
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...