First-quarter profits a mixed bag
15 May 2007
American International Group and reinsurance giant Swiss Re reported increased profits for the first quarter, but New York-based Marsh & McLennan suffered a damaging fall of 36%…
International
Terror fears hamper investment
15 May 2007
Lloyd’s says increased concern over terrorism and political violence risk is causing businesses to avoid investing in politically sensitive areas or locating offices in large cities…
American insurance fraud costs $US30 billion
15 May 2007
After an extensive two-year review of anti-fraud efforts, the US general insurance industry is taking action on insurance fraud which costs it an estimated $US30 billion ($36 billion) a year…
Premiums fall in North America
08 May 2007
Property insurance rose but all other classes of cover fell in the latest survey on insurance trends in North America by the Risk and Insurance Management Society…
Willis rejects commission scheme
08 May 2007
US-based broker Willis has rejected a revised contingency commissions scheme, saying any system that rewards brokers for placing business with an underwriter is tainted…
FSA review calls for improvements
08 May 2007
UK regulator the Financial Services Authority has been told to lift its game. A performance review by the National Audit Office says the FSA needs to do more to streamline its structure…
Reinsurer changes gear for shareholders
08 May 2007
Munich Re has recorded a €982 million ($1.62 billion) first-quarter profit, but plans to do a lot more to please its shareholders…
Euro consumers pay through the nose
08 May 2007
A lack of competition means Europeans pay more for insurance and other financial services, according to regulators…
Reputation loss greatest fear: survey
01 May 2007
Diminished reputation is a company’s greatest fear, closely followed by business interruption and third-party liability, according to a review of business attitudes by global insurer Aon…
Triple treat for insurance giants
01 May 2007
Three of the world’s insurance juggernauts continue to outperform in the face of softening rates…
US insured losses reach $1.2 billion
01 May 2007
US insurers have been hit with a $US1.22 billion ($1.47 billion) insurance bill in the first quarter of 2007, according to an analysis by the Insurance Services Office…
Catastrophe respite brings bumper profits
24 April 2007
Following a sharp decline in losses from hurricanes and other natural disasters in 2006, the US general insurance industry is now in fine shape…
UK praises its principles-based regulation
24 April 2007
The UK’s principles-based regulation of the financial services sector stands as a “balanced model” for international counterparts to adopt, according to Treasury Economic Secretary…
Oklahoma tort shake-up mooted
24 April 2007
With the US insurance industry continuing to battle against rapacious plaintiff lawyers and sympathetic juries, a move by the government of Oklahoma is being hailed as…
Chubb plays it safe on lawyers’ blogs
24 April 2007
Malpractice insurance covering law firms’ blogs will be available within select parameters, Chubb Insurance says, after earlier reports claimed the company was not interested…
Levene urges leadership on climate change
17 April 2007
Greater international co-operation – including a concerted effort by the insurance industry on risk modelling – must be achieved to prepare for the huge challenge of climate change…
US sea-changers pose insurance risk
17 April 2007
The population of hurricane-prone areas in the US continues to rise, with implications for the price of property insurance to be felt for years to come, a US Senate committee on…
Pandemic: when, not if
17 April 2007
The outbreak of the next global pandemic is a question of timing rather than probability, Munich Re has warned…
Lloyd’s officially opens in China
17 April 2007
After receiving regulatory approval for its new reinsurance company in Shanghai last month, Lloyd’s has officially commenced operations of Lloyd’s Reinsurance Company China Limited…
Atlantic storm predictions up
11 April 2007
Hurricane activity in the Atlantic is projected to be above the 50-year average in 2007 as forecasters up their predictions from an earlier report…