Insurers warned over pricing
20 August 2009
Insurers engaging in price wars are gambling with their future, according to a paper by Liberty International Underwriters that calls into question the industry's financial health…
International
Further Greenberg legal settlement reported
17 August 2009
Former AIG chief Maurice "Hank" Greenberg and other former executives of the insurance giant have reportedly agreed to settle a lawsuit brought by a group of Ohio pension funds…
Hotel bombings force risk management review
17 August 2009
Global broker Aon has urged clients to improve risk management procedures following a spate of terrorist attacks on hotels in popular tourist areas…
Goodwill charge buries Crawford profit
17 August 2009
Global claims management provider Crawford & Company has reported a first-half loss of $US85 million ($102 million), due primarily to heavy goodwill charges…
Typhoon causes havoc in Taiwan
17 August 2009
Insurance claims following last week's typhoon in Taiwan aren't in line with the reported damage - so far…
AIG makes $2.3 billion from sale
17 August 2009
The infamous AIG financial products unit has completed the sale of energy and infrastructure assets for $US1.9 billion ($2.3 billion) amid ongoing parent company divestitures…
Ping An first-half profit falls 45%
17 August 2009
China's Ping An Insurance has reported a 45% fall in first-half net profit of RMB5.22 billion ($919 million)…
AIG back in black as new chiefs named
10 August 2009
Recovering giant AIG continues to make headlines with the appointment of two experienced financial services managers to replace Edward Liddy as Chairman and CEO and its first quarterly profit…
Zurich chooses Schiro replacement
10 August 2009
Zurich Financial Services has decided to replace retiring CEO James Schiro with an insider – CFO Martin Senn – from January 1…
Swiss Re records big Q2 loss
10 August 2009
Global reinsurer Swiss Re reported a CHF381 million ($426 million) loss for the second quarter as mark-to-market losses on hedges and impairments offset positive results from underwriting…
Catastrophes hasten fall in Munich Re profit
10 August 2009
The Victorian bushfires are among a clutch of catastrophes to contribute to a 19% fall in Munich Re’s first-half net profit…
Berkshire insurance unit up 31%
10 August 2009
Berkshire Hathaway, the investment company headed by US stockmarket legend Warren Buffett, has recorded its best quarter in nearly two years thanks to share price recoveries…
Capital levels vulnerable, says Moody’s
10 August 2009
Moody’s Investors Service says the world insurance industry shouldn’t get too carried away with stable capital levels fuelled by improving share and debt markets…
Greenberg settles with regulator for $17.9 million
10 August 2009
Iconic former AIG CEO Maurice “Hank” Greenberg will pay $US15 million ($17.9 million) to settle civil charges brought by the US Securities and Exchange Commission…
Axis boss blasts ‘failing’ industry
10 August 2009
Axis Capital CEO John Charman has uncorked a verbal spray on the insurance industry after heavy competition contributed to a 41% slump in first-half net profit…
US rates continue to slide
10 August 2009
US property and casualty premiums declined by an average of 6% in June, according to analysis group MarketScout…
MMC second-quarter earnings tumble
10 August 2009
Marsh & McLennan Corporation blames a net loss of $US193 million ($230 million) in the second quarter on a “goodwill impairment charge”…
Hannover Re posts upbeat results
10 August 2009
Hannover Re saw hearty growth in gross written premium and net profit in the second quarter as a capital-hungry insurance world demanded more reinsurance and its investment returns improved…
European storm tops reinsurer’s loss list
03 August 2009
The first half of 2009 has proved to be an expensive one for the global industry, with Munich Re saying total world insurance losses for the period were $US11 billion ($13.3 billion) compared with…
Global insurers report modest Q2 profits
03 August 2009
The austere economic environment continues to dictate the fortunes of global insurers who returned generally modest profits in the second quarter…