US flood insurance renewal passes key test
12 May 2008
The US National Flood Insurance Program has had a win after Congress agreed to its renewal in a key test vote...
International
MMC chief acts to stem profit slide
12 May 2008
Marsh & McLennan has suffered a $US210 million ($223 million) first-quarter loss following a massive $US425 million ($452 million) writedown on its struggling risk consulting…
US rates fall 12%
12 May 2008
US property and casualty rates have dropped an average of 12% over the past year, according to analyst MarketScout...
Solid Q1 financials for German reinsurers
12 May 2008
Munich Re has posted first-quarter profits of €785 million ($1.3 billion), demonstrating it is on track to meet a €3 billion ($4.9 billion) profit forecast for the year despite…
…but Swiss Re shares hammered as profit halves
12 May 2008
Global reinsurer Swiss Re has reported a 53% first-quarter drop in net profit to CHF624 million ($628 million) over last year’s corresponding period...
UK regulator: web aggregators could do better
12 May 2008
The UK financial regulator has called on insurance comparison websites to lift their game and ensure their customers have access to accurate policy information...
S&P predicts Solvency II more damaging than subprime
12 May 2008
Solvency II – the European Union’s proposed set of regulatory requirements for insurers – will have a greater effect on European insurers than the credit crunch has...
UK brokers fight commission disclosure
05 May 2008
Mandatory commission disclosure could spell the death knell for small independent UK brokers, the Institute of Insurance Brokers has warned the Financial Services Authority...
Mixed fortunes for insurers and brokers
05 May 2008
In a largely forgettable first-quarter reporting season, leading international insurers and brokers alike have seen their profits hit as adverse weather claims and the global credit…
UK brokers move back into motor
05 May 2008
British brokers are staging a comeback in the motor personal lines market but are seeing their share of the SME market decline, says a leading research provider...
Lloyd’s boss calls for liability overhaul to counter subprime crisis
05 May 2008
Lloyd’s Chairman Lord Levene has called for a wholesale review of liability risk to combat the subprime threat...
US cat bill doubles
05 May 2008
US insurers are facing a $US3.35 billion ($3.55 billion) first-quarter claims bill from catastrophes, more than double the $US1.26 billion ($1.34 billion) payout…
Bermuda shakes off hurricane torpor to record strong growth
05 May 2008
The Bermuda insurance market is in good health despite the softening market, says AM Best...
Liberty Mutual succeeds in Safeco takeover
28 April 2008
US insurer Liberty Mutual Group has announced it will acquire Safeco Corporation for $US6.2 billion ($6.5 billion)...
RBS considers insurance sale
28 April 2008
The Royal Bank of Scotland is looking to offload its insurance division, with US giant AIG touted as a potential buyer...
Insurance tax axed
28 April 2008
A 15% sales tax on premiums has been axed by the Canadian province of Newfoundland and Labrador...
Rates biggest challenge for London market: Fitch
28 April 2008
The London insurance market has come a long way but needs to address a number of challenges if it is to retain its excellent reputation, according to ratings agency Fitch...
Chinese premiums enjoy spike
28 April 2008
China’s insurance premium revenue has risen 51.6% in the first quarter of the year to RMB297.9 billon ($45 billion)...
UK calls for cross-border co-operation
28 April 2008
The UK Government is calling for closer co-operation among European Union regulators...
Law firms under suspicion in claims crackdown
28 April 2008
Ten UK law firms and dozens of claims management companies are reportedly under investigation for alleged insurance fraud...