July 6, 2012
Aviva, the UK’s No.2 insurer, plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors irked by the group’s flagging share price. The company, whose weak stock market …
June 12, 2012
British insurers face big claims for flooding after the heavy rainfalls across the country this month, making it harder for them to hit profit targets and potentially forcing them to raise premium rates for consumers, analysts said on Tuesday. Hundreds …
May 31, 2012
The world’s biggest trade credit insurer, Euler Hermes, has suspended cover for exporters shipping to Greece because of the mounting risk of them not being paid in the event the debt-laden nation is forced out of the euro. “Euler Hermes …
April 30, 2012
Pool Re, the state-backed British reinsurer that covers terror attack-related commercial property losses, has £4.5 billion ($7.327 billion) of assets to cover the Olympic Games and is not jacking up premiums for the event. Bombings or other incidents costing more …
March 29, 2012
A widely expected ban on European insurance cover for Iranian oil exports from July 1 is threatening to curtail shipments and raise costs for major buyers such as Japan and South Korea, insurance industry sources say. Last week the European …
February 16, 2012
European insurers Axa and Zurich Financial suffered on all sides last year as Europe’s debt crisis ate into their sovereign bond holdings, catastrophe claims emptied coffers and the downturn cut demand for life cover. Axa, Europe’s No. 2 insurer, said …
December 21, 2011
Motor [auto] insurers seeking to get around a European ban on charging male drivers more than women are turning to innovative black box technology that could trigger an upheaval in the way car insurance is sold. Britain’s biggest motor insurer, …
November 21, 2011
Security firms led by G4S are providing armed guards to ships sailing pirate-infested Somali waters, with one start-up kitting out a gunboat to lead World War II style convoys, as ship owners step up their response to constant attacks. G4S, …
November 21, 2011
Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing operations there, adding to an already record-breaking natural catastrophe bill this year. Analysts and industry executives say it is too soon …
November 15, 2011
Regulators should focus on insurers’ role in markets outside their traditional sphere, as such activities could worsen the economic impact of companies in the sector going bust, the International Association of Insurance Supervisors said in a report on Tuesday. The …