AMP cuts uk costs and raises profile
10 April 2001
AMP plans to merge its three British insurance units – Pearl, NPI and London Life – into one brand, AMP UK…
International
Pru gazumped
10 April 2001
Giant British insurer Prudential is finding the battle for market share in the US is a tough business…
Allianz set to become a financial mega-giant
03 April 2001
A likely merger between Germany’s insurance giant Allianz and third-largest bank Dresdner is expected to lead to a number of similar actions in Europe…
Foot and mouth cover dries up
03 April 2001
European insurers are watching the steady spread of foot and mouth disease with concern…
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…
Lower profits tipped for Britain's big 3
27 February 2001
Storms across Europe during 2000 are expected to impact on the returns of Britain’s three largest insurers when they report their annual results this week…
Sovereign signs off with a smile
27 February 2001
New Zealand financial services company Sovereign Limited – which has now merged with Colonial – has returned its last financial results…