Regulation
US insurers in bail-out talks with Treasury
Three US insurers are understood to be in talks with the US Treasury about a possible state-cash injection.
Aegon in Dutch government talks
Giant European insurance group Aegon is in weekend talks with the Dutch government over the possibility of it joining a Euros 20bn state recapitalisation scheme, according to a report in the UK's Sunday Times newspaper.
Tax millstone for US reinsurers prompts legal call
Less than one in four insurance industry professionals polled by AM Best believe US insurers and reinsurers can compete with firms based in low-tax domiciles. The survey also shows that over half support tax law changes to address the issue.
Great Lakes Casualty upgraded in wake of acquisition
Ratings Agency AM Best has upgraded the financial strength rating to A (Excellent) from B- (Fair) and issuer credit rating (ICR) to “a” from “bb-” of Great Lakes Casualty Insurance Company.
Life - Reinsurance Group of America sees income drop
Life reinsurer, Reinsurance Group of America has reported net income for the third quarter of $25.2m compared to $76.5m for the same quarter last year. However operating income increased by about 25% to $118.5m from $95.65m in the same period last year.
Founder steps down as regulator hits Quinn with £2.56m fine
Sean Quinn senior, the founder and chairman of Quinn Insurance, has been fined £2.56m (€3.25m) by the Irish financial regulator.
Aon hires chief risk officer
Insurance broker and risk adviser Aon has appointed Pauline Colvin as chief risk officer.
FSA bans Lancashire broker
The Financial Services Authority (FSA) has banned Lancashire broker Neil McKay after finding that he cancelled contracts of insurance without customers’ knowledge or approval and failed to pass premium payments taken from customers on to other…
Glacier appoints Etridge
Liechtenstein headquartered Glacier Insurance has appointed Richard Etridge as chief executive offic...
Appointment at Glacier Insurance
Richard Etridge has been appointed as chief executive officer by Glacier Insurance, which is headqua...
Cancer Cover - Excess baggage
Travel Insurance
Appointment at Willis Re
Willis Re has elected Alice Underwood to the board of directors of the Casualty Actuarial Society fo...
Zurich defends decision to redomicile in Ireland
Zurich says its customers and claimants "will not be adversely impacted" by its decision to redomici...
Lloyd's market to proceed with caution
Lloyd's is likely to continue its conservative investment approach until the markets start to even o...
Consultancy demands FSA clarify solvency stance
Charl Cronje, an insurance partner at consultants Lane Clark and Peacock, has today warned that UK regulator the Financial Services Authority's tough statements about the future of financial services regulation run the risk of causing insurers to delay…
Bahrain's insurance market posts strongest-ever year in 2007
The Central Bank of Bahrain announced today that the Bahrain insurance market posted its strongest-ever annual growth during 2007, with gross premiums surging by 21% over 2006.
US P&C industry statutory surplus set to decline £42bn at end of Q2
Marred by the clash of equity and credit-related losses on their asset portfolios, catastrophe losses resulting from an active hurricane season and an anticipated spike in directors and officers liability (D&O) claims, the US property & casualty industry…
Pru CEO Tucker says it is monitoring AIG situtation closely
The group chief executive of Prudential has admitted that the insurance group is monitoring AIG disposal programme.
Prudential said to be looking at AIG's Asian Business
Prudential, the UK insurer, is reported to be in talks with two strategic investors to take a 20% stake in the company and help the company mount a $15bn (£8.6 bn) bid for AIG's Asian business.
Zurich UK set to redomicile
Zurich UK has become the latest company to make the decision to redomicile in the Republic of Ireland in a move the insurer says will create greater efficiencies throughout the group, Post's sister publication Insurance Age has learnt.
ABI: we will not be complacent but the insurance industry remains strong
The Association of British Insurers has insisted that the UK insurance industry remains stronger than during previous times of market turbulance.
Fitch revises outlook on insurance industry to 'negative' from 'stable'
>US ratings agency Fitch Ratings has revised its outlook on the insurance industry to 'negative' from 'stable'.
Water torture
Property Focus: Flood risk