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International

Japanese stay home as premiums head north

02 October 2001

Japan’s outgoing tourism market, a major source of revenue for Australian tour operators, is drying up rapidly, and so is the insurance cover travelers used to take for granted…

Reinsurance capacity will shrink, says report

25 September 2001

It’s not only liability that’s drying up. Morgan Stanley said the capacity of the reinsurance market worldwide to take risk, currently around $120 billion annually of premium…

Australia keeps Qantas flying

25 September 2001

Meanwhile, the Australian Government has joined European governments in guaranteeing the third-party liabilities of its remaining major airline as the global insurers cancel war and terrorism risks for airlines…

Middle East becomes a war-risk zone for ships

25 September 2001

The Lloyd’s War Risks Committee is demanding that shipping companies inform Lloyd’s of plans to send ships into most of the Middle East’s ports and waterways, including the Arabian Gulf…

Insurance shares ploy may have aided terrorists

25 September 2001

Terrorist leader and accused New York attack ringleader Osama bin Laden allegedly financed the attack by short-selling insurance stocks like Axa, Swiss Re and Munich Re…

Japanese life insurers placed on watch

25 September 2001

Five major Japanese life insurers – Asahi Mutual, Meiji, Mitsui Mutual, Sumitomo and Yasuda Mutual – have been placed on credit watch by Standard and Poor’s…

Insurance will survive, says S&P’s

18 September 2001

As long as the insurance claims from New York’s World Trade Centre tragedy don’t exceed $US50 million, the global insurance industry will be okay…

Euro insurance stocks hit, too

18 September 2001

Plummeting insurance stocks in Europe will lift as demand for insurance services rise in the wake of the New York disaster, according to leading analysts…

Zurich set to do swap deal with bank

11 September 2001

Zurich Financial Services continues to have a rocky time on European markets, as rumours abound about its desire to exit its loss-making US operation Scudder Investments…