News

Cat Losses Reach Record Heights in 2008

This past year was one of the costliest on record for catastrophe losses, according to a preliminary Swiss Re report.
Hurricanes and storms drove the …

Canada’s Most Wanted: IBC Shares Auto Theft Targets

What kind of car do Canada’s auto thieves covet?  Apparently, they want older, common models that won’t attract attention, according to the Insurance Bureau …

U.S. Financial Crisis Hits U.S. Insurers

U.S. property and casualty insurance insurers are witnessing the impact of a struggling financial market, according to data collected by the Insurance Services …

Madoff Fraud Scheme Reaches Insurers

Several international insurers have been affected by fallout from a US$50-billion fund fraud scheme.
This week, at least two insurers said the fall of Bernard …

AIG Sells Mortgage-Backed Securities

AIG continues to reduce its exposure to high-risk investments. The insurer’s life insurance companies have sold their interests in a pool of residential …

Lloyd’s Sets Out New Strategy

Lloyd’s is putting special emphasis on emerging markets and technology in its new three-year plan.
The insurance market’s strategy for 2009-20011—released last week—outlines its …

Researchers Predict a “More Active” Hurricane Season in 2009

The coming hurricane season will likely be more intense than most, say researchers at Colorado State University.
Longtime hurricane forecasters at the CSU Tropical …

Q3 Income Plummets for Canadian Insurers

Canadian property and casualty insurers saw net earnings for the first nine months of this year plummet by 33%, according to industry financial …

Focus on Capital, Swiss Re Urges Insurers

Insurers worldwide—both P&C and life—should focus on preserving their capital, say analysts at Swiss Re, who warn that the ongoing recession could stretch …

U.S. Insurers See Surplus Slump: Towers Perrin

If stock markets don’t make a strong recovery, U.S. property and casualty insurers could see their surplus decline by 15%–almost US$80 billion—by the …

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