Now Pru sues AIG
17 April 2001
It had to happen. British insurance giant Prudential has taken out a lawsuit against American International Group in their multi-billion dollar battle for American General…
International
NRMA in NZ goes for brokers
17 April 2001
NRMA is moving quickly to consolidate its hold on the former State Insurance…
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…
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…
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…