Amidst all the turmoil in the euro zone, the implementation of the Solvency II regulations, governing the 27 members of the European Union, including the UK, grinds inexorably forward. It is a fact of life for British insurers, and their …
Dr. Josef Ackermann’s keynote speech to delegates at the Risk Management Forum of the Federation of European Risk Management Associations (FERMA) basically described the global financial system as broken and in need of a “fundamental reassessment.” As the Chairman of …
The Lloyd’s web site notes that August 18th was the 100th anniversary of the 1911 Lloyd’s Act, which was instrumental in transforming the market from a primarily marine insurer, to the specialized global risk market it has become. In addition …
Swiss Re reported Group net income increased by 18 percent to $960 million in the second quarter of 2011, compared to $812 million in the same period of 2010. “All segments contributed to these positive results, which translate into a …
Specialist insurance broker BMS Group announced that its results for the year ended December 31, 2010, show a “strengthening of financial resources and a share buyback,” which will “support BMS’ expansion strategy in the US and London, as well as …
According to new research issued by financial services market research consultancy Finaccord, the market for extended warranties and insurance related to mobile and non-mobile consumer products in Europe was worth around €5.58 billion [$8 billion] in 2010. This breaks down …
A new special report from A.M. Best – Takaful Poised for Growth, But Greater Focus is Required – notes that “Takaful operators in the Gulf Cooperation Council (GCC) and Malaysia are growing at a rapid pace and are highly capitalized. …
A new study in Swiss Re’s sigma series concluded that the global insurance industry has returned to a pattern of growth. The study – World insurance in 2010 – reveals growth in global premium volume and capital. Premium volume “grew …
The UK-based RSA Group (formerly Royal & Sun Alliance) came through 2010 with a good earnings performance, despite what its report described as “extreme weather conditions.” RSA summarized the highlights as follows: Net written premiums of £7.5 billion [$12.1 billion], …
