Thanks but no thanks, say US insurers
03 November 2008
US insurance associations have rejected as unnecessary a Treasury plan to include insurers in a $US700 billion ($1.042 billion) rescue package...
International
US urged to centralise insurance regulation
03 November 2008
Financial services industry representatives have urged the US Congress to give the Federal Government a wider role in regulating the nation’s insurance industry…
US third-quarter cat losses among worst in a decade
03 November 2008
Property and casualty insurers in the US will pay $US11.5 billion ($16.9 billion) in third-quarter catastrophe claims, the fourth-largest insured property loss for that period since 1998...
Bank takes the cash for life insurer
03 November 2008
Swiss Re has paid £762 million ($1.8 billion) cash for the life insurance operation of troubled UK bank Barclays...
Investments amount to $351 million loss for China Pacific Insurance
03 November 2008
China Pacific Insurance has reported a loss of 1.64 billion yuan ($351 million) for the third quarter as weak investment markets took a toll on the major life and general insurer...
Financial crisis takes its toll on Generali
03 November 2008
Italy’s largest insurer, Generali, has been hard hit by the global financial crisis with a 29% slide in nine-month net profit to €1.67 billion ($3.2 billion) from €2.36 billion ($4.55 billion) last year...
Flu pandemic due, says Lloyd’s
27 October 2008
A repeat of the 1918 Spanish flu outbreak is statistically overdue, and any mass outbreak will contribute to a global recession, according to a report from Lloyd’s...
General insurance sector faring well, says Willis
27 October 2008
A Willis report shows the global general insurance sector has so far survived the credit crisis, with little exposure to subprime investments and few negative ratings actions...
US premiums continue to fall despite credit crunch
27 October 2008
Two major hurricanes in the US and the global financial crisis have failed to alter the soft commercial insurance market in the third quarter...
Swiss Re bids for RBS Insurance division
27 October 2008
Swiss Re and private equity firm CVC Capital Partners are making a joint bid for a majority stake in the Royal Bank of Scotland’s British insurance assets...
Willis third-quarter profit slides 46%
27 October 2008
Willis Group has recorded a 46% fall in net third-quarter earnings as it accounted the cost of acquiring US firm Hilb Rogal & Hobbs...
Hannover Re’s targets no longer attainable
27 October 2008
Reinsurer Hannover Re has abandoned its profit forecast for the year but remains “cautiously optimistic” about next year’s prospects...
Swiss Re backs Malawi maize production
27 October 2008
Swiss Re has entered into a weather derivative contract to pay up to $US5 million ($7.6 million) if Malawi’s farmers suffer from a drought-related shortfall in maize production...
Outlook positive for global insurers
20 October 2008
Standard & Poor’s says global insurers are well placed to ride out the turbulence caused by the American subprime meltdown...
Balance shifts away from banks
20 October 2008
The global financial crisis will shift the balance of power within the finance industry towards insurers and away from banks, according to the head of Munich Re...
AIG’s loan from Feds a ‘lose-lose plan’
20 October 2008
The US Government’s loan to AIG will see the liquidation of the company and the loss of thousands of jobs as well as billions of dollars in shareholder value…
Regulators emphasise need for solvency
20 October 2008
The International Association of Insurance Supervisors has ratified six new papers on solvency assessment, citing the importance of insurer solvency amid the current financial…
ING gets a capital boost from Dutch Government
20 October 2008
ING Group will pump €2 billion ($3.9 billion) into the balance sheet of ING Insurance after the Dutch Government agreed to inject €10 billion ($19.5 billion) into the company...
New mobile technology to cut driver distraction
20 October 2008
US insurers are promoting new technology in a bid to cut down on car crashes caused by a menacing minority – drivers using mobile phones...
AIG takes some extra cash
13 October 2008
The US Federal Reserve has offered even more cash to the struggling AIG...