Willis profit grows
31 October 2006
No 3 global broker Willis Group has turned in a third-quarter result of $US301 million ($391 million) for the first nine months of this year…
International
Marsh CEO rejects acquisition speculation
31 October 2006
Marsh CEO Brian Storms has denied that the insurance broker and its parent company are for sale…
UK examines insurance sector
31 October 2006
In a bid to maintain principles-based regulation for the financial services sector, the UK’s Financial Services Authority will examine whether the regulatory regime for insurance…
Risk services help Gallagher along
31 October 2006
Major global broker Arthur J Gallagher has achieved $US421.2 million ($548.6 million) in revenue for the three months to the end of September…
UK advances asbestos legislation
31 October 2006
The British Government will bring forward legislation to ensure that at least 800 sufferers of asbestos-related diseases are able to keep their full compensation…
ASIC to enforce US law too
24 October 2006
The investment watchdog may soon be inspecting local companies on behalf of US regulators…
Buffett answers Equitas liability question
24 October 2006
The world’s second-richest man has come to the rescue of about 34,000 private investors with a stake in the run-off liabilities of Lloyd’s vehicle Equitas…
WTC ruling divides insurers
24 October 2006
A US Federal Appeals Court has delivered a mixed verdict to World Trade Centre leaseholder Larry Silverstein, meaning he will be able to collect $1.1 billion ($1.45 billion)…
Gallagher CEO named Chairman
24 October 2006
US insurance brokerage Arthur J Gallagher has appointed President and CEO J Patrick Gallagher Jnr to the additional post of Chairman…
US market continues to soften
24 October 2006
The US insurance industry is experiencing similar trends to local insurers when it comes to the continued softening of the market…
Willis named in Marsh move
17 October 2006
No 3 global broker Willis has had its “informal” offer for No 1 broker Marsh & McLennan rebuffed, according to London media reports…
Action urged on climate change
17 October 2006
North American insurers must do more to deal with the effects of climate change, according to a new report co-written by Allianz and the World Wildlife Fund…
US earthquake fear
17 October 2006
Few Americans have invested in earthquake insurance despite the enormous damage earthquakes can cause, according to ratings agency AM Best…
Lloyd’s boss warns against complacency
10 October 2006
Lloyd’s CEO Richard Ward says the industry needs to rise to the challenge and not rest on its laurels and “reflect on our glorious past”…
Japanese insurers fail to pay
10 October 2006
Japan’s largest general insurance companies face penalties after acknowledging they failed to pay about 262,000 claims valued at about ¥16.2 billion ($184 million)…
El Niño here until March
10 October 2006
The US Climate Prediction Centre believes the Asia Pacific region is in the midst of an El Niño weather pattern that will affect the weather until at least March next year…
Lloyd’s earnings drop but outlook okay
03 October 2006
Lloyd’s profit has fallen 2.2% to £1.35 billion ($3.39 billion) for the first six months of the year after investment income fell £86 million ($215.9 million)…
RSA flees US market
03 October 2006
Just over three years after departing the Australian and New Zealand markets, British insurer Royal and Sun Alliance has signed a deal that will see it escape from the difficulties…
Cold shoulder for insurance plan
03 October 2006
Legislation introduced by Republican Edward Royce in the US House of Representatives last week would allow some insurers to be regulated by the Federal Government…
UK regulator’s new rules
26 September 2006
The UK Financial Services Authority has produced new proposals for regulatory reform that includes guidance on reporting reinsurance contracts…