Zurich increases half-year profit
18 August 2008
Global insurer Zurich has reported strong results for the first half of 2008, with operating profit increasing by 8% to $US3.5 billion ($4 billion)...
International
S&P downgrades outlook for US commercial insurers
18 August 2008
Standard & Poor’s has downgraded its outlook on the US commercial lines insurance sector from stable to negative as concern persists over declining prices and investment income...
Ping An Insurance profit down on poor investment returns
18 August 2008
Chinese insurer Ping An has recorded a 2.5% drop in first-half net profit of RMB9.7 billion ($1.6 billion) as premium growth was offset by a 63% slide in investment income...
ING profits tumble in the second quarter
18 August 2008
Dutch banking and insurance giant ING reported a 29% fall in underlying net profit for the second quarter, with lower investment results accounting for the bulk of the decline...
Tokio Marine posts 42% decline in Q2 profit
18 August 2008
Japan’s largest property and casualty insurer, Tokio Marine, has reported a 42% drop in quarterly profit...
Aviation insurance premiums remain flat
18 August 2008
International aviation insurance rates remain “virtually” flat among lead hull and liability premiums according to a report by Aon...
UK insurance buyers lobby EU on block exemption
18 August 2008
The Association of Insurance and Risk Managers has lobbied the European Commission in the hope UK insurers will continue to benefit from a block exemption to certain…
RIMS survey: North American premiums continue to fall
11 August 2008
It’s still a buyer’s market for commercial insurance in North America, as average premiums continued to fall among all major lines during the second quarter...
Swiss Re to acquire Barclays Life Assurance
11 August 2008
Swiss Re has agreed to buy the life insurance unit of British banking giant Barclays in a deal worth £735 million ($1.57 billion)...
AIG losses top $US5 billion
11 August 2008
American International Group posted a net loss of $US5.36 billion ($5.87 billion) for the second quarter of 2008, compared to 2007 second-quarter net income of $US4.28 billion…
Reinsurers’ profits wane as financial turmoil bites
11 August 2008
Munich Re has booked a first-half net profit of €1.4 billion ($2.4 billion) blaming “difficult conditions on the capital markets” for a 34% decline against the corresponding period…
Revenue up, profit down at Marsh
11 August 2008
Marsh & McLennan Companies has reported a 63% drop in second-quarter earnings...
Tough market squeezes Allianz profit
11 August 2008
German insurer Allianz has taken a hammering in the second quarter amid difficult market conditions, with net profit declining 28%...
Axis profits and premiums fall
11 August 2008
Bermuda-based global insurance and reinsurance provider Axis Capital Holdings has reported a 2% fall in net profit for the first half of 2008 of $US469 million ($511 million)...
UK inland flood model sharpens details
11 August 2008
The UK continues to lead the way in flood risk mitigation with a new flood model that allows users to zone in on property flood risk by specific street rather than postcode...
Dire prediction for US hurricane season
11 August 2008
Colorado State University researchers have predicted nine hurricanes will form during this year’s Atlantic hurricane season – three above the annual norm...
Berkshire Hathaway second-quarter profit down 7.6%
11 August 2008
Berkshire Hathaway has reported a second-quarter net profit of $US2.88 billion ($3.3 billion), 7.6% down on the corresponding quarter last year...
Bank may abandon sale of insurance division
04 August 2008
The Royal Bank of Scotland may be forced to drop plans to offload its £7 billion ($15 billion) UK insurance division...
Canadian insurers record first underwriting loss since 2002
04 August 2008
The Canadian general insurance industry recorded its first underwriting loss in six years during the first quarter, as the combined ratio surged to 104.3%...
Willis half-year result drops 17%
04 August 2008
Global broker Willis has reported a reduced half-year net profit of $US205 million ($219 million), despite pushing total revenue up by 7%...