US hurricane season causes some pain, but not too much
31 January 2006
European insurers enjoyed good profitability in 2005, despite bearing some of the fallout from US Hurricanes Katrina, Wilma and Rita…
International
US bird flu outbreak could cost $US133 billion
31 January 2006
A bird flu pandemic in the US would kill as many as 1.9 million people and cost US life insurers $US133 billion ($176.8 billion) if past pandemic trends are anything to go by…
Asbestos claims stopped in UK
31 January 2006
The Court Of Appeal in London has stopped thousands of industrial disease sufferers from claiming personal injury compensation for pleural plaques, the scars that form around…
Industry welcomes TRIA extension
13 December 2005
The US insurance industry has welcomed the approval by Congress of legislation which will see the Terrorism Risk Insurance Act extended by at least two years…
Hurricanes push Lloyd’s into loss
06 December 2005
Hurricane Katrina has pushed Lloyd’s into the red, with the market announcing it’s heading for a loss in 2005…
UK regulator goes soft on principles
06 December 2005
The UK Financial Services Authority has been given the message by its government: cut the cost of compliance…
Greenberg won’t be prosecuted
29 November 2005
New York Attorney-General Eliot Spitzer won’t be pressing criminal charges against former AIG Chairman and CEO Maurice “Hank” Greenberg, despite media reports…
UK brokers may disclose commissions
29 November 2005
UK insurance regulator the Financial Services Authority has warned general insurance brokers that disclosure of commission arrangements to corporate insurance buyers…
Swiss Re nails GE
22 November 2005
No 2 global reinsurer Swiss Re has agreed to buy the world’s fifth-largest reinsurer, GE Insurance Solutions, for $US6.8 billion…
TRIA lives as Senate votes
22 November 2005
The US Senate has approved a bill to extend the federal terrorism insurance coverage support plan for two years from January 1…
Asbestos confusion stalls legislators
22 November 2005
Will $US140 billion be enough to pay for US asbestos victims, or will claimants soon eat their way through that…?
Lloyd’s drawing up high-stakes survival plan
22 November 2005
Lloyd’s is drawing up a three-year plan on how it will deal with increasing foreign competition for its traditional markets…
Willis takes control in China
22 November 2005
British-based global broker Willis Group has been given permission to take a majority interest in its Chinese joint venture with Pudong Insurance Brokers…
Lloyd’s moves into China
15 November 2005
Lloyd’s has been given permission to establish a reinsurance operation in China…
US considers extending terrorism law
15 November 2005
It’ll be a close-run thing, but the US Congress is moving ponderously to addressing the need to extend the 2002 Terrorism Risk Insurance Act – which expires at the end of December…
One more time – AIG checks the books
15 November 2005
Giant US insurer AIG has raised its estimate of net income for the past few years by $US500 million as it re-examines its accounts for the second time this year…
Berkshire takes a belting from Katrina, Rita
08 November 2005
Berkshire Hathaway, the investment company run by business guru Warren Buffett has suffered a 48% quarterly profit fall as a result of some $US3 billion claims…
Reinsurers rattled
08 November 2005
As the claims for the damage caused by hurricanes Katrina and Rita become clearer, the next few weeks are likely to be very rough for reinsurers with exposures to…
… and insurers drop hurricane states
08 November 2005
Major US insurers are beginning to scale down their exposures in the devastated gulf states, especially in the city of New Orleans…
Chubb judged the best
08 November 2005
And just to keep you up with all the awards: the Brussels-based International Insurance Brokers Association has named Chubb as the best international insurer for 2005…