St Paul goes offshore – US goes ballistic
29 April 2002
The US Government is getting upset at the number of financial services companies setting up headquarters offshore, principally in Bermuda…
International
September 11: some developments
29 April 2002
Remember Larry Silverstein, the New York developer who was leasing the World Trade Centre towers…
Huppi quits Zurich
23 April 2002
First Zurich Financial Services lost its global CEO when Rolf Huppi stepped aside in the face of strident shareholder criticism of his recent performance…
Aon battles the bulge
23 April 2002
Higher expenses and a fall in revenue have seen Aon Corporation announcing a lower-than-expected first-quarter profit…
Lawyers keep reforms on ice
23 April 2002
New York’s state’s motor vehicle insurance reforms, detailed in the April edition of Insurance & Risk Professional, remain tied up in court by plaintiff lawyers…
Greenberg shows the way with a pay freeze
16 April 2002
Maurice Greenberg, CEO of US insurance giant AIG and grand old man of the global industry, has reacted in typically direct fashion to the company’s recent September 11-induced lower profits…
Ride the wave in Singapore
16 April 2002
The “early bird” discount for the third Singapore International Insurance Brokers Association Conference has been extended to this Friday, April 19…
Lloyd’s puts $9.4 billion into US fund
09 April 2002
Lloyd’s Chairman Sax Riley has proved as good as his word with the recent transfer of funds to meet the market’s estimated $13.2 billion September 11 commitments…
New company offers some terror cover
09 April 2002
Six European insurers have banded together to insure property on the continent against terrorist attack…
Zurich keeps its focus on asset sales
09 April 2002
Zurich has completed the sale of Scudder Investment Services to Germany’s Deutsche Bank, and is now in talks with Italy’s Generali Group to sell its businesses…
Europe decides to jump into an airline pool
09 April 2002
The European Union’s 15 governments have decided to see if they can form a pool to insure airlines against terrorist attack…
Renewals on hold as Asian insurers battle for a better deal
03 April 2002
Asian insurers are playing hardball with reinsurers over renewal terms, to the point that the April renewal season for Japan, India and Korea has had to be put back a month…
Things get worse for Andersen
03 April 2002
If claimants organising lawsuits over the Enron collapse thought things were confusing, the situation just got worse…
Liquidators appoint HIH connection for UK
03 April 2002
The HIH liquidators have selected British insurance services company Omni Whittington to manage the run-off of the company’s British operations…
Dispute resolution schemes prosper
03 April 2002
New figures released by the Irish insurance ombudsman show a 24% increase in written complaints last year…
British insurers want a tax break, too
03 April 2002
Australia’s brokers aren’t the only ones arguing for cuts in premium taxes – British insurers are also cutting up rough at the windfall profits being enjoyed by their government…
Huppi under pressure over Zurich’s troubles
03 April 2002
Zurich global Chairman and CEO Rolf Huppi has been criticised by an internal report that claims he is responsible for leaving the company uncomfortably exposed to September 11…
Duncan Boyle takes top UK post
26 March 2002
Former Royal & SunAlliance Australia chief Duncan Boyle has become CEO of the company’s British operations…
Broker bodies merge
26 March 2002
Britain’s two largest broker bodies, the Association of Insurance Intermediaries and Brokers and the British Insurance Brokers Association have voted to merge…
Employers Re rumours worry ratings agency
26 March 2002
Is industry giant GE really planning to spin off its insurance and reinsurance operations..?