Third parties are big business
21 September 2004
Selling insurance to third parties is a big business in the UK, according to an email survey of 400 member organisations by the Association of Insurance and Risk Managers…
International
Aviva moves out of Asia insurance
14 September 2004
British company Aviva, the world’s fifth-largest insurer, is selling its Asian general insurance business to Mitsui Sumitomo Insurance of Japan…
Experience limits exposure in Florida
14 September 2004
Changes to the way insurers do business in Florida since Hurricane Andrew in 1992 are likely to limit the insurance cost of hurricanes Charley and Frances…
Some 9/11 good news
14 September 2004
No insurance company was bankrupted because of the September 11 terror attacks, according to a study by US university Ball State…
US insurers not afraid of being blown away
07 September 2004
Insurers exposed to destruction caused by Hurricane Frances in Florida may face up to $US10 billion in claims…
Lloyd’s aims for slip compliance
07 September 2004
Lloyd’s has underpinned its commitment to increasing contract certainty by announcing the creation of an action team of LMP slip auditors…
Swiss Re profit beats expectations
31 August 2004
The travails of the past few years now safely behind it, and the rest of the reinsurance industry, Zurich-based Swiss Re has capitalised on the recovering investment markets…
Risk body does U-turn on fee disclosure
31 August 2004
Just a few weeks ago the New York-based Risk and Insurance Management Society (RIMS) was saying it was quite relaxed about insurance brokers receiving commission…
Zurich’s global profit soars
24 August 2004
Zurich Financial Services has reported a first-half net profit of $US1.5 billion for its global operations…
Hurricane Charley costs up to $US10 billion
24 August 2004
The most recent estimates by risk agencies indicate that insurers will have to pay out between $US6 billion and $US10 billion as a result of Hurricane Charley…
R&SA result bolstered by sale
17 August 2004
The divestment strategy of troubled UK insurer Royal & SunAlliance have helped it turn the corner, with its management saying its half-year results and recent asset sales…
Florida faces massive insurance bill
17 August 2004
The damage caused by Hurricane Charley to insured property in Florida could reach as much as $US15 billion, according to insurance industry experts…
Rights group sues Marsh, Aon and Willis
17 August 2004
An insurance consumer rights group, which started in New York but is now based in San Francisco, is suing the three largest global brokers…
Global profit still on the rise
10 August 2004
Britain’s largest general insurer, Aviva, has beaten analysts’ expectations with a 37% increase in first-half operating profit, but it is still cautious about prospects for the UK…
Munich Re turns the corner, St Paul travels down
10 August 2004
Meanwhile, Munich Reinsurance has returned to form, recording a profit of €1.2 billion for the first half of this year, compared with a loss of €229 million for the corresponding period…
Profit news: up, up and away
03 August 2004
Premiums in the global insurance market might be softening, but the trend doesn’t seem to have had an adverse effect on profit…
Aon faces US class action suit
03 August 2004
No 2 broker Aon Corporation is facing a class action lawsuit in the US which alleges it breached its fiduciary duty by taking contingent commissions from insurers…
China’s insurance boom
03 August 2004
Driven by a surge in foreign investment, the Chinese insurance market has reached 1 trillion yuan in total assets…
AIG profits up by 25.7%
27 July 2004
New-York based global insurer American International Group has announced a profit increase of 25.7% to just over $US2.86 billion for the second quarter…
US insurers campaign for terror insurance extensions
27 July 2004
American insurers say the US Senate’s move to introduce legislation to extend the Terrorism Risk Insurance Act until 2007 will act as an economic safety net for consumers…