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International

Allianz grows bigger

10 April 2001

Allianz AG has become the world’s fourth-largest financial group following its bid for Dresdner for $41 billion…

Pru gazumped

10 April 2001

Giant British insurer Prudential is finding the battle for market share in the US is a tough business…

No joy for japan’s life insurers

03 April 2001

The decision by the Bank of Japan last week to effectively return to a zero interest rate policy is likely to cause even more life insurers to tip over the edge…

Human rights issues resolved

03 April 2001

Health insurers have settled a case with the NZ Human Rights Commission over the practice of increasing premiums for older people…

A Mir drop in the ocean…

27 March 2001

The 136 tonne-Russian space station Mir may have made it safely back to earth, but not before Lloyd’s had made some last-minute money out of it…

Zurich takes a small tumble

27 March 2001

European storms and reinsurance problems caused an unexpected flutter in Zurich Financial Services’ annual profit, which was announced on Friday…

Japan’s banks make things worse

20 March 2001

Japan’s life insurance industry, which is already reeling from enormous losses thanks to low interest rates and bad investments, now has a new problem to deal with…

Merger may cost $45 billion

20 March 2001

Major British insurer Prudential will pay $45 billion to buy insurer American General Corp, and is now having to appeal for support from institutional investors…

US drops bankruptcy clause

20 March 2001

Lloyd’s has managed to convince US legislators not to protect local investors who owe the London market money…

AXA leans on life division

20 March 2001

French insurance giant Axa has recorded a net profit for 2000 of 2.2 billion Euros – but no thanks to its property and casualty businesses…

Zurich goes to Scotland for banking

20 March 2001

Swiss insurer Zurich has made its first tentative steps into the retail banking market with an announcement that it will set up a joint venture with the Bank of Scotland…

Premium rises are now global

06 March 2001

Premium rises are now being recorded around the world as underwriters greet the upswing in the insurance cycle…

UK insurers admit poor service

06 March 2001

You’ll never hear this at a conference in Australia… Senior managers of British underwriters attending a brokers’ conference in Britain have admitted their service levels are below standard…

Floods dampen CGNU profit

06 March 2001

As predicted last week, giant British insurer CGNU has recorded a slightly smaller profit on last year’s figure, mainly as a result of floods in Britain and storms in Europe…

Pru, L&G report profits

06 March 2001

No 2 British insurer Prudential reported an 8% rise in profits to $2.3 billion, demonstrating that a flat UK market and a tough US market are being offset by the company’s strategy…

Another ailing Japanese life insurer sold

27 February 2001

Japanese life insurers continue to experience a horror stretch of crippling losses, with 12th largest Chiyoda Mutual Life Insurance falling to American giant AIG…