… as Lloyd’s sets paper deadline
25 February 2008
The end is finally in sight for paper at Lloyd's as the market moves to full implementation of electronic processing for accounting and settlement…
International
Munich Re flags increase in combined ratio
25 February 2008
Munich Re has revised its combined ratio estimate for this year to 98% ahead of provisional figures to be released today…
… and launches $US1.5 billion pandemic risk cat bonds
25 February 2008
Munich Re has created a bond program to transfer pandemic risks to the capital markets…
FM Global achieves record net income
25 February 2008
FM Global's net income rose 26% last year to a record $US928 million ($1 billion)…
Marsh ranks No 1 in China
25 February 2008
Marsh has been ranked China's leading international broker by the China Insurance Regulatory Commission…
Gen Re/AIG trial hears closing arguments
18 February 2008
Five insurance executives accused of a sham reinsurance deal must now bear the consequences, a US federal prosecutor argued in closing statements at the Gen Re…
Bradshaw heads IIB
18 February 2008
Barbara Bradshaw has been appointed CEO of the UK Institute of Insurance Brokers following the sudden death last month of founder and Director-General Andrew Paddick…
Marsh and Kroll lead MMC downward slide
18 February 2008
Newly installed Marsh & McLennan CEO Brian Duperrault has targeted the company's broking and technology subsidiaries for remedial work in the wake of a 46% slide in fourth-quarter…
Zurich banks $US5.6 billion
18 February 2008
Zurich Financial Services Group has beaten analysts' forecasts to record a 22% rise in net profit to $US5.6 billion ($6.2 billion) for last year…
AIG shares slide after $US5 billion subprime writedown
18 February 2008
AIG shares dropped 11% last week after the company revealed auditor concern about its financial reporting methods…
Lloyd’s to reinsure in Rio
18 February 2008
Lloyd’s is to set up reinsurance operations in Brazil following the abolition of national monopoly reinsurer IRB Brasil Re…
Expensive China snowstorm
18 February 2008
Chinese insurers have paid out more than $150 million in claims following snowstorms that blanketed southern provinces in late January…
Liberty Mutual income falls
18 February 2008
Liberty Mutual's net income slid 6.5% to $US425 million ($471 million) for the final three months of last year, despite a 15% jump in revenue to $US6.93 billion ($7.63 billion)…
Insurers support Solvency II
18 February 2008
European insurers say new insurance regulations will have an overall positive effect at little cost to the industry…
Hannover Re happy with renewals
18 February 2008
German reinsurer Hannover Re says a “satisfying” January renewals season has put the company on track to build its premium book by 5% this year…
Aon consolidates on back of 20% profit boost
11 February 2008
Aon is consolidating its global brokerages into a single operation in the wake of a 20% lift in net income to $US864 million ($965 million)…
Willis down, but not out
11 February 2008
No 3 global broker Willis - which recently made a play for much larger competitor Marsh - has surpassed analysts' expectations with full year net income of $US409 million ($457 million)…
China counts storm cost
11 February 2008
The winter storms sweeping China have caused $US7.5 billion ($8.4 billion) in economic losses, says the Chinese Ministry of Civil Affairs…
Levene re-elected as Lloyd’s Chairman
11 February 2008
Lord Levene has been reappointed Chairman of Lloyd's…
Cat bonds fly as market falls
11 February 2008
Insurance linked securities, including catastrophe bonds, are proving resilient options in light of the global downturn in financial markets, says insurance broker Guy Carpenter…