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…
International
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…
Silverstein puts in WTC settlement offer
13 August 2002
World Trade Centre leasee Larry Silverstein, the man at the centre of the multi-billion dollar lawsuit over insurance coverage for the September 11 attack/s, may be willing to…
Berkshire Hathaway booming
13 August 2002
Billionaire US investor Warren Buffett can thank rising insurance premiums for the 35% rise in profit enjoyed over the second quarter by his Berkshire Hathaway group…
Happiness is rare in UK insurance
13 August 2002
A study carried out by a British financial services recruitment specialist has revealed that about 33% of the British insurance industry would leave their jobs if they could…
Lloyd’s Names – not happy
06 August 2002
The newly announced Lloyd’s market reforms are merely “smokescreens”, meaning no real change in power at all…
Pool Re expansion welcomed
06 August 2002
The Association of British Insurers and UK risk managers’ association AIRMIC have both welcomed the UK Treasury’s decision to expand Pool Re…