Lloyd’s ready for $60 billion losses
20 September 2005
Lloyd’s has a provisional estimate that its total exposure to Hurricane Katrina claims is £1.4 billion…
International
Former Marsh execs face criminal charges
20 September 2005
Enough of the apologies, Marsh is getting back on the front foot…
Buffett’s people probed
13 September 2005
The Oracle of Omaha, multi-billionaire Warren Buffett, has had a tough 12 months since his reinsurance operations got caught up in a series of entanglements with US regulators…
Katrina losses rise
13 September 2005
Leading assessment firm Risk Management Solutions now predicts economic losses from Hurricane Katrina and its aftermath might reach as much as $US100 billion…
Storms new CEO of Marsh
13 September 2005
Marsh & McLennan President and CEO Michael Cherkasky has kicked himself upstairs to concentrate on growth, while Brian Storms…
…while Marsh sells Crump
13 September 2005
Marsh has signed a definitive agreement to sell its US-based wholesale broking operation Crump Group to an affiliate of JC Flowers & Co, a New York-based private equity firm…
Katrina the most expensive yet
06 September 2005
Insurers face record payouts, and some will experience record losses, after Hurricane Katrina laid waste to the US Gulf Coast last week…
Swiss Re warns on storms
06 September 2005
Devastating storms in Europe, which cost insurers €1 billion in January, may be more common in the future, according to Swiss Re…
New person at the Swiss Re helm
30 August 2005
Swiss Re has appointed a new CEO, Jacques Aigrain, to succeed Briton John Coomber, who will retire on December 31…
Europe braces for insurance investigation
30 August 2005
The European Commission’s remarkably thorough bureaucrats have called for tenders from economists prepared to examine the structure of the commission’s inquiry…
Hurricane Katrina may cost $US30 billion
30 August 2005
As Hurricane Katrina belts the daylights out of the south-eastern US, insurers are already bracing for some whopper payouts…
AIG turns the corner
23 August 2005
Accounting errors and the pain of taking a financial hit to set the record straight haven’t hurt American International Group too much…
Zurich’s life operations bring in the money
23 August 2005
Global insurer Zurich Financial Services recorded a 21% rise in first-half net profit thanks to improved life insurance and investment returns…
Willis back in business in China
23 August 2005
Willis is back in business in the Chinese province of Quandong after the Chinese Regulatory Commission lifted its licence suspension…
Sharing the risk responsibility
23 August 2005
The Association of British Insurers has called on all voluntary and community groups to develop effective risk management plans to avoid facing potentially crippling damage bills…
Europeans post tidy profits
16 August 2005
Global insurance rates may be trending down, but the latest major international insurers to report their June figures are showing the trend isn’t reflected in their returns…
Marsh broker investigated by grand jury
16 August 2005
A New York grand jury is investigating whether a former top insurance broker at Marsh participated in bid-rigging for corporate clients, according to the Wall Street Journal…
Greenberg attacks AIG
09 August 2005
Maurice “Hank” Greenberg – the ousted CEO of AIG – has slammed the new management of the company and its auditors, defending his role in the accounting irregularities…
Cost-cutting increases Aon’s profit
09 August 2005
Global broker Aon may have been targeted by the US regulators for its dealings in contingent commissions, but cutting costs has assisted the Chicago-based company…
US study gives contradictory messages about insurance market
09 August 2005
Pricing across the various classes of insurance in the US is giving mixed messages about the state of the market…