FSA bans three UK directors
08 September 2008
The UK Financial Services Authority has banned three directors of London brokerage BPS Insure for misusing client funds...
International
Insurance sector rated as stable
08 September 2008
International ratings agencies Standard & Poor’s and Fitch are both maintaining their stable outlook for the global reinsurance sector, but they’re doing so cautiously...
Chinese market tough for AIG
08 September 2008
Insurance giant AIG says it will expand its general insurance business deeper into China in the next five years in a move the company concedes is “challenging”...
Curfew policy rewards young drivers
08 September 2008
An Irish insurer has introduced a curfew policy that rewards young drivers who leave their cars home on Friday and Saturday nights...
Insurers prepared as Hurricane Gustav threatens US
01 September 2008
New Orleans residents are fleeing town as Hurricane Gustav heads to US shores tonight just three years after Hurricane Katrina brought devastation to the gulf states…
Claims pile up after Tropical Storm Fay
01 September 2008
As Gustav moves in on the gulf states, US insurers are already counting the cost of damage from torrential rains and flooding caused by Tropical Storm Fay in Florida…
Pricing and profit top concern for insurers
01 September 2008
Competitive pricing and adequate profitability is the main issue facing the global insurance industry, according to a survey of participants at an International Insurance Society meeting…
Oil giant agrees massive liability for Exxon Valdez spill
01 September 2008
Exxon Mobil Corp has agreed to pay 75% of the $US508 million ($587 million) in punitive damages awarded by the US Supreme Court in June over the 1989 Exxon Valdez oil spill…
Swiss Re calls for a new kind of CRO
01 September 2008
Swiss Re has called for nations to establish the position of “country risk officer” to help mitigate increased risk associated with climate change...
Commerzbank buys Dresdner Bank from Allianz
01 September 2008
German insurer Allianz has offloaded its troublesome subsidiary Dresdner Bank, but will take a 30% stake in new owner Commerzbank aiming to improve insurance sales…
More time off work for smaller car owners
01 September 2008
Small vehicles cause big accidents...
Aon merges with Benfield
25 August 2008
Insurance broker Aon’s bid for Benfield Group will make it the world’s largest reinsurance broker...
Crocked Chinese hurdler set for golden insurance payout
25 August 2008
Chinese Olympic hero Liu Xiang is set to claim an insurance policy worth RMB100 million ($17 million) after he was forced to withdraw from the 110-metre hurdles through injury...
Crawfords reports strong results
25 August 2008
Global loss adjuster Crawford & Company has reported a net income of $US7.9 million ($9.1 million) for the second quarter of this year...
Half-year results show European insurers still strong
25 August 2008
Despite poor performance in capital markets, the underlying performance of European insurers in the second half remains strong, according to a Moody’s Investors Service report...
Reserves mask weak profitability for Allianz in UK
25 August 2008
Allianz insurance operations in the UK reported a 3% increase in profit of £94 million ($201 million) for the second quarter against the same period last year...
Insurers withdraw from Burma
25 August 2008
Two global insurers are pulling out of Burma just three weeks after being named in a report by human rights lobby group Burma Campaign UK...
Bank may abandon sale of insurance wing
25 August 2008
The Royal Bank of Scotland may abandon the sale of its insurance division after raising nearly £6 billion ($13 billion) through the sale of part of its loan book…
Aon launches Green Cover
25 August 2008
Global broker Aon is following the new wave of green insurers by launching an environmentally friendly and energy-efficient insurance solution in its global property policy...
Failed US banks wipe 17% from federal insurance fund
18 August 2008
The failure of eight US banks this year is expected to wipe 17% off the US Government’s deposit holder insurance fund...