AIG’s loan from Feds a ‘lose-lose plan’
20 October 2008
The US Government’s loan to AIG will see the liquidation of the company and the loss of thousands of jobs as well as billions of dollars in shareholder value…
International
Regulators emphasise need for solvency
20 October 2008
The International Association of Insurance Supervisors has ratified six new papers on solvency assessment, citing the importance of insurer solvency amid the current financial…
ING gets a capital boost from Dutch Government
20 October 2008
ING Group will pump €2 billion ($3.9 billion) into the balance sheet of ING Insurance after the Dutch Government agreed to inject €10 billion ($19.5 billion) into the company...
New mobile technology to cut driver distraction
20 October 2008
US insurers are promoting new technology in a bid to cut down on car crashes caused by a menacing minority – drivers using mobile phones...
AIG takes some extra cash
13 October 2008
The US Federal Reserve has offered even more cash to the struggling AIG...
Buyers circle AIG’s non-core assets
13 October 2008
Potential buyers are eyeing off AIG business units after the US insurer announced the sale of non-core assets to focus on its international general insurance business...
Lloyd’s brokers move to split from BIBA
13 October 2008
The London Market Brokers’ Committee, which represents Lloyd’s brokers in the UK, is seeking member support to form a new broking association separate to the British…
Rates and profits down in the US
13 October 2008
Hard times are descending on the US general insurance industry...
Munich Re sets ambitious earnings target…
13 October 2008
Munich Re has reiterated its goal of increasing earnings per share to €18 ($36.70) by 2010...
… and sponsors climate change research
13 October 2008
Munich Re has teamed up with the London School of Economics to advance research into the economic effects of climate change...
EU passes Solvency II Bill to stabilise insurance
13 October 2008
The European Union has approved the Solvency II Bill in a bid to improve the financial stability of its insurance industry...
Allianz invests $US2.5 billion in The Hartford
13 October 2008
German insurer Allianz SE will invest $US2.5 billion ($3.7 billion) in The Hartford Financial Services Group in a move designed to improve the balance sheet of the US life…
Zurich writes down US exposures
06 October 2008
Zurich Financial Services Group has announced a series of writedowns based on its exposure to failed US financial firms...
US property and casualty profits plummet
06 October 2008
The US property and casualty industry’s after-tax profits plummeted 57% to $US13.9 billion ($17.5 billion) during the first half of the year, according to a joint industry report...
Survey: AIG still a respected industry player
06 October 2008
A US survey reveals that despite AIG’s financial woes the insurance industry maintains a “deep reservoir of goodwill” toward the beleaguered group...
AIG Life: should I stay or should I go?
06 October 2008
UK investors in AIG Life’s “Enhanced Fund” have had an interesting choice this week...
US flood plan extended
06 October 2008
It wasn’t the biggest piece of legislation the US Congress pondered last week, but its passage was at least quick and well received...
AIG offloads UK airport stake
06 October 2008
AIG last week sold its 50% stake in London City airport as it finalised plans to offload further assets in order to repay the $US85 billion ($109 billion) US Federal Government…
Hurricane Ike among most costly on record
06 October 2008
Hurricane Ike’s estimated losses of $US9.8 billion ($12.6 billion) have put the catastrophe on track to be the fourth most expensive storm in US history...
Typhoon Jangmi shakes up Taiwan
06 October 2008
AIR Worldwide Corporation has estimated insured losses from Typhoon Jangmi at between $US40-120 million ($51-152 million) after the storm rocked parts of Taiwan...