Lloyd’s market votes for reform
17 September 2002
Lloyd’s of London has voted in favour of reforming its 314-year-old insurance business – but the victory could still be overturned by the Names…
International
Mendelsohn chopped by R&SA board
17 September 2002
Royal & SunAlliance in Britain has dumped global CEO Bob Mendelsohn…
Zurich does a drastic rethink
10 September 2002
It’s all bad news at Zurich, with the big Swiss financial services company announcing a $3.6 billion loss for the first half of 2002, compared with a profit of $1.5 billion…
Names say no as Lloyd’s vote looms
10 September 2002
The Lloyd’s reforms could be in trouble, with the largest voting bloc turning against the bold program set up by Lloyd’s Chairman Sax Riley…
UK insurers call for workers’ comp reform
10 September 2002
Workers’ compensation is under the microscope in Britain as the Association of British Insurers begins a campaign for fundamental long-term reform…
Scor makes a bid for Gerling Re
10 September 2002
French reinsurer Scor is holding discussions with Gerling on acquiring some of the German insurer’s reinsurance operations…
Axa follows the others down
10 September 2002
French insurer Axa has followed the international trend with a lower first-half profit well down on last year’s figures…
September 11 – nothing much left to say
10 September 2002
Tomorrow marks the first anniversary of the September 11 terrorist attacks on the United States…
Europeans take a dive, too
03 September 2002
Insurers and some reinsurers globally are seeing their profits eroding rapidly as the downturn in equity markets bites harder than increasing premiums can offset…
Munich Re shows how it’s done
03 September 2002
Amid the gloom and doom comes a stand-out result from Munich Re, which ended the first half with a net income of $7.5 billion, up on the $2.3 billion recorded…
Gerling Re gets out of the US
03 September 2002
Gerling has bitten the bullet on its disastrous reinsurance foray into the US market and put its US operation into run-off…
Mendelsohn may be the next R&SA asset to go
27 August 2002
Royal & SunAlliance in the UK remains under intense pressure to do something to reverse its plummeting share price and disappointing results…
WTC decision closer
27 August 2002
World Trade Centre leaseholder Larry Silverstein has been told that under no circumstances can he claim up $6.4 billion from Swiss Re…
Lloyd’s sets decision date
27 August 2002
Lloyd’s 16,000 members will vote on reform proposals on September 12…
European floods: the cost
27 August 2002
The European floods will cost insurers about $3.3 billion, according to analysts at Merrill Lynch…
Aon underwriter’s rating under review
20 August 2002
Aon subsidiary Combined Specialty Group has had the financial ratings of its seven insurance subsidiaries placed under review by AM Best…
Miami centre of horror scenario
20 August 2002
While the insurance world prepares for a string of “September 11 one year later” seminars, there’s another anniversary approaching that in its own way is of equal significance…
Pearl chopped by AM Best
20 August 2002
AMP’s Pearl Assurance unit in the UK is one of eight British life insurers to have its rating downgraded by AM Best…
Aviva profits jump 13%
13 August 2002
Aviva, the former CGNU, has announced a 13% rise in operating profit for the first six months of last year to $1.3 billion…
S&P revises Aon’s ratings outlook
13 August 2002
Giant US-based broker Aon has had its ratings outlook revised from “stable” to “negative” by Standard & Poor’s following the company’s disappointing second-quarter earnings…