Market
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Chartis bitten by 2002 and prior reserve addition as AIG posts year-end loss
Chartis, the global non-life insurance operation of AIG, reported a fourth quarter 2009 operating loss of $1.8bn that was driven…
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Buyers, insurers and brokers still grappling with ELD’s complexities
The Environmental Liability Directive (ELD) finally reached implementation in all 27 E.U. member states at the end of 2009, two…
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Demand for captives in national oil sector expected to grow
Only a small portion of national oil companies (NOCs) currently operate a captive insurance company, but, broker Marsh believes that…
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‘Fracking’ could free Europe from Russia’s stranglehold on gas, says UK politician
[DUBAI]—Europe could be self-sufficient on power from natural gas, and escape Russia’s supply-stranglehold, if energy companies in Europe follow the…
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Brussels opens ‘discussion’ on broker pay with CEIOPS
The pressure on European risk managers and their brokers to find an industry agreement on broker pay to remove potential…
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AGCS reports stronger volumes, profits and solvency as integration continues apace
Allianz Global Corporate & Specialty (AGCS), the arm of Munich-based Allianz SE that focuses on large corporate and specialty business,…
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Amlin reports record profits on the back of low losses and buoyant investments
Amlin, the London-based insurance group, reported a record pre-tax profit for 2009 on the back of strongly increased premium volumes,…
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RSA remains committed to European growth despite flat market
RSA, the London-based insurance group, has reported a higher net written premium volume and improved underwriting result but worse combined…
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Risk response not assessment is the key – Comment
I have to confess that when I see a speech on enterprise risk management scheduled at a conference I usually…
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Don’t sacrifice health and safety for short-term profit warns HSE’s Hackitt
International energy industry executives were warned last week to not allow short-term financial targets to overshadow basic health and safety…
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Companies should be hit with “punitive and significant” fines for manslaughter
The U.K. Sentencing Guidelines Council (SGC), the body that advises courts on sentencing, has published a set of principles to…
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AXA CS helps improve group profit but don’t expect terms to relax
AXA Corporate Solutions (ACS) reported slightly reduced revenues on a reported basis, but, sharply increased profits as Paris-based parent AXA…
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Aspen announces $400m share buyback as profits rise by 357%
Aspen Insurance Holdings, the Bermuda-based insurance and reinsurance group, confirmed the buoyant mood in the international market, as its board…
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Brussels turns attention to broker pay as FERMA explains buyer needs
The European Commission has requested advice on how conflicts of interest between insurance brokers and their customers can be managed…
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Captive groups makes last ditch plea to finance ministers on Solvency II
Leading representatives of Europe’s captive community have written a joint letter to the national finance ministers of the European Union…
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Amlin seeks ‘powerful’ role in France with merger of operations
Amlin, the London-based insurance group and biggest underwriting agency at Lloyd’s, has announced plans to form a separate division for…
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AWAC Europe launches professional lines division for SME market
Allied World Assurance Company (Europe), the European arm of Bermuda-based AWAC, has launched a new division that will offer professional…
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AXIS launches renewable team in London and higher profits for 2009
AXIS Capital Holdings, the Bermuda-based insurance and reinsurance group, has formed a renewable energy team within its AXIS Insurance business…
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Gerhardt to leave following PartnerRe acquisition of PARIS RE
PARIS RE Management Board members Hans-Peter Gerhardt, President and CEO, Jean-Luc Gourgeon, Chief Underwriting Officer, Marie-Hélène Autem, Head of Human…
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Zurich reports rates up 4% in commercial and corporate lines
Zurich Financial Services reported that its Global Corporate business had managed to achieve average rate increases in 2009 of 4%…
