News
Terrorist atrocity leaves insurers facing record costs
In the wake of the havoc that was wreaked in the US yesterday the total bill to insurers is expected to top the $3bn (£2.05bn) paid out following the Piper Alpha oil platform disaster in 1988, which is currently the most expensive man-made incident for…
AIA rejects claims of domestic insolvencies
The American Insurance Association has denied that it is expecting any domestic insurer insolvencies,...
Lloyd's review expected in 48 hours
Lloyd's of London is currently undertaking an assessment of the impact on the market and anticipated...
Insurers try to bolster stocks after US attacks
In announcements made this morning, Finnish Insurers Sampo and Pohjola tried to alleviate investor fe...
Losses of at least £10bn expected
Initial estimates of the cost to the insurance industry of yesterday's terrorist attacks on the US pl...
Chubb confirms significant exposure at WTC
Following the attack on the World Trade Centre yesterday Chubb has said it is expecting "significant ...
Munich Re losses could reach Euro 1bn
The world's second largest reinsurer, Munich Re, said that its losses from the terrorist attacks cent...
"Worst case" event happens
By Janina Clark in Monte Carlo
Scor boss predicts surge in rates
Chairman and chief executive officer for French reinsurer Scor, Jacques Blondeau announced this after...
Mourning industry promises to meet losses
By Janina Clark in Monte Carlo
Monte Carlo Rendez-Vous stunned by terrorist attacks
By Janina Clark in Monte Carlo
World Trade Centre losses set to top $20bn
By Janina Clark in Monte Carlo
Mass exodus in the City
There was a mass exodus of staff from offices in the City this afternoon as rumours spread that up t...
PMI shake up needed warns market analyst
Problems loom large on the horizon for the Private Medical Insurance industry unless it can combat ri...
Claims People seals offshore deal
The Claims People Group has entered into a joint venture with Marsh (Jersey)to provide end-to-end cla...
Rendez-Vous stopped as fears mount
All meetings and proceedings at the Monte Carlo reinsurance Rendez-Vous were halted today, as insuran...
Terrorists crash planes into World Trade Centre and Pentagon
Two hijacked aircraft have crashed into the upper floors of the World Trade Centre towers in New York...
Union members crying out for insurance
The vast majority — 8 out of 10 — trade union members believe their union should be offering insuranc...
Record cat losses for P&C sector
The property and casualty (P&C) sector suffered its worst second quarter catastrophe losses in histor...
Broker Willis plans move into banking distribution
Willis will eventually become a distributor not only for insurers and reinsurers but also for banks a...
Miller Fisher losses reduced
Miller Fisher Group, the outsourcing services provider, has recorded a reduction in pre-tax loss to ...
Moody's warns against early optimism
Reinsurers anticipating large rate increases at the 1 January renewals should not celebrate just yet,...
XL to take control of joint venture Le Mans Ré
XL Capital of Bermuda is likely to take a 67% controlling interest in Le Mans Ré, which XL formed wit...
Stakeholder figures "encouraging" claims ABI
Almost 70 000 new stakeholder pensions were bought in July, according to figures released today by th...