02 March 2009
German insurer Allianz has recorded a full-year loss of €2.4 billion ($4.7 billion) as discontinued banking operations punched a €6.4 billion ($12.6 billion) hole in the insurer’s balance sheet...
02 March 2009
UK credit insurers have leapfrogged ratings agencies to become the key determinants of company credit quality, brokerage Aon Trade Credit claims...
02 March 2009
US-based insurance giant Chubb Corporation has agreed to pay $US239,000 ($369,162) to settle compensation disclosure allegations brought by the Massachusetts Attorney-General...
02 March 2009
It might have returned solid full-year financial results, but global insurer RSA (until last year known as Royal & SunAlliance) still intends to cut 1200 staff in the UK...
02 March 2009
Britain’s Financial Services Authority has banned insurers from selling single-premium payment protection insurance with unsecured loans...
02 March 2009
The FSA has introduced a draft code of practice for remuneration that sets minimum risk management standards for pay policies...
02 March 2009
Royal Bank of Scotland Insurance illustrated continued viability last week, turning a 15% operating profit despite the parent company recording the worst result in UK corporate history...
02 March 2009
The financial crisis is likely to drive more insurers to use state-of-the-art scenario analysis to evaluate future risk, a Swiss Re report claims...
23 February 2009
Broker Jardine Lloyd Thompson has foreshadowed rises of between 10% and 40% in UK directors’ and officers’ liability insurance premiums following tough reinsurance renewals this year...
23 February 2009
Powerful European insurers and reinsurers have joined forces to form a new company that will provide European catastrophe insurance data industry-wide...
23 February 2009
Swiss Re has confirmed the worst, last week announcing a net loss of CHF864 million ($1.14 billion) for 2008 – driven largely by bad investment strategies...
23 February 2009
Standard & Poor’s (S&P) has scaled back its long-term credit rating on Swiss Re from AA- to A+ after the reinsurance giant leaked capital throughout last year...
23 February 2009
Proposed legislation for an optional US federal insurance charter has firmly divided the US insurance industry as advocates seek to modernise the existing state-based regulatory system...
23 February 2009
Global credit insurer Coface has boosted its credit insurer network by snapping up firms in Argentina and the Netherlands...
16 February 2009
Poor underwriting and investment results combined to erode US property and casualty market net profit by 80% last year, according to ratings organisation AM Best...
16 February 2009
No 3 global broker Willis Group put in a steady performance last year with a 26% decline in net profit attributed mainly to the purchase of Hilb Rogal & Hobbs Company (HRH) in October...
16 February 2009
Axis Capital Holdings recorded a 67% slump in net profit of $US351 million ($535 million) last year as the company felt the full force of US hurricane winds...
16 February 2009
US commercial insurer WR Berkley has reported net profit of $US281 million ($427 million) as falling premium revenue contributed to a 63% dip in earnings...
16 February 2009
AIG is in advanced talks with Zurich Financial Services to sell its US auto insurance business, international media reports claim...
16 February 2009
Shareholders of European insurer Fortis have rejected deals that would see the business carved up between the Dutch and Belgian governments and French financial services company BNP Paribas...