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Insurance Research Letter

ISN's respected monthly journal covering developments in insurance markets around the world since 1966.

 Insightful Market Commentary
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Europe

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ING Sells Annuity and Mortgage Businesses in Chile to Corp Group Vida Chile, S.A.

Friday, July 31, 2009

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UK: IUA Market Briefing

Thursday, November 27, 2008

Issues Arising from the Employers’ Liability Trigger Litigation Judgment....

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London: IUA Market Briefing

Wednesday, November 19, 2008

"Electronic Discovery in the U.S. -- What Insurers and Reinsurers Need to Know"...

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UK: Willis Research Network Breakfast Briefing - 10th December

Tuesday, November 18, 2008

Supercomputers, Climate Change and Catastrophe Modelling - The State of the Art

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Willis Completes $2.1 Billion Acquisition of Hilb Rogal & Hobbs

Wednesday, October 01, 2008

Willis Group Holdings Limited said it has completed its $2.1 billion acquisition of Hilb Rogal & Hobbs Company....

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Fortis statement on Fortis Ping An asset management partnership

Tuesday, September 30, 2008

Fortis announces that it expects not to be able to complete the asset….

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Willis Re Launches P&I and Marine Mutual Reinsurance Team

Monday, September 29, 2008

Willis Re announced the formation of a Protection & Indemnity (P&I) and Marine Mutual Reinsurance team, and appointed a managing director and three new executive….

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ING not to make offer for ABN Amro Netherlands

Monday, September 29, 2008

ING announced that it does not intend to make an offer to acquire ABN Amro….

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Governments of Belgium, Luxembourg and the Netherlands invest EUR 11.2 billion in Fortis

Monday, September 29, 2008

Concerted action of the three governments and the respective supervisory authorities to support Fortis….

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AEGON outlines exposure to Washington Mutual

Monday, September 29, 2008

Recent actions reduced exposure by 47%....

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Lloyd’s reports interim results

Thursday, September 25, 2008

Lloyd’s announced an interim profit before tax of £949 million for….

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Zurich Strengthens Group Risk Management

Thursday, September 25, 2008

Zurich announced various appointments within Group Risk Management - both in Switzerland and the United States.

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Airline insurance market hardens

Wednesday, September 24, 2008

Aon’s Airline Insurance Market Indicators Autumn 2008 shows more difficult times ahead as the renewal season approaches.

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Employers breathe sigh of relief in age discrimination legal battle

Tuesday, September 23, 2008

An Advocate-General at the European Court of Justice today rejected Age Concern's claim that forcing people to retire at….

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Lloyd’s welcomes its new graduates

Monday, September 22, 2008

Lloyd’s has welcomed the first group of candidates to be accepted in to its graduate programme….

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Zurich launches a new global brand campaign introducing Zurich HelpPoint worldwide

Monday, September 22, 2008

Zurich announced the launch of its new global brand campaign introducing….

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Zurich formalizes insurance business partnership with Banco Sabadell in Spain

Friday, September 19, 2008

Zurich announced the completion of the acquisition of a 50% stake in the insurance operations....

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AEGON reduces costs of unit linked insurance in the Netherlands

Friday, September 19, 2008

Based on industry-wide recommendations of the Dutch Ombudsman for Financial Services....

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AEGON releases details of AIG exposure

Friday, September 19, 2008

In the light of the actions of the Federal Reserve Board, AEGON releases details of its....

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ING expects limited impact from Lehman Brothers exposure

Tuesday, September 16, 2008

ING announced that, in light of the exceptional turbulence in global financial markets, it wants to inform its stakeholders….

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Zurich appoints Thomas Buberl as CEO Zurich Switzerland

Monday, September 15, 2008

Zurich has appointed Thomas Buberl to the position of Chief Executive Officer (CEO) Zurich Switzerland….

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Fortis statement on Lehman Brothers exposure

Monday, September 15, 2008

Further to the recent developments Fortis wishes to detail its estimated exposure to Lehman....

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Allianz Supervisory Board decides on changes in Management Board

Thursday, September 11, 2008

The supervisory board of Allianz SE has accepted today the request of Dr. Helmut Perlet (61) to retire as of....

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Glencairn to be the Cornerstone of a New Willis Wholesale Strategy

Thursday, September 11, 2008

Glencairn, Hilb Rogal & Hobbs' London-based operation, and Willis Group Holdings announced plans to create a new third-party….

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Willis Re Director Appointed to National Environment Research Council

Tuesday, September 09, 2008

The City Gains Voice on UK Environmental Science Policy.... 

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Aon Re Global: Reinsurers Strong Amid Credit Crisis

Sunday, September 07, 2008

January 1 renewals likely to reflect slowing rate of decrease in reinsurance pricing provided no significant catastrophe losses….

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Munich Re Well Positioned for Turnaround in the Cycle

Sunday, September 07, 2008

Difficult capital market environment and higher losses can accelerate a turnaround in the cycle. Munich Re is committed to consistent cycle management and differentiated pricing in reinsurance.

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Governor of Rio Delivers Keynote Speech at Lloyd’s Sixth Annual City Dinner

Friday, September 05, 2008

Lord Levene, Chairman of Lloyd’s, last night (September 4, 2008) hosted the Corporation’s sixth annual Lloyd’s London City Dinner at Merchant Taylors’ Hall.

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Hannover Re and its CEO Honored With Awards

Thursday, September 04, 2008

Wilhelm Zeller, Chief Executive Officer of Hannover Re, had the pleasure of accepting two awards yesterday in London…

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Economic Slowdown Encourages More Companies to Take Up Trade Credit Insurance

Thursday, September 04, 2008

Figures published by the ABI (Association of British Insurers) show that the number of companies taking out credit insurance….

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Aon Re Global Opens New Office in Warsaw

Wednesday, September 03, 2008

Seeking a further strengthening of market presence in Poland….

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Cash In Transit Premiums Could Plummet by 20%

Tuesday, September 02, 2008

Aon welcomes new competition in the London market....

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Willis Marine Market Review Reveals Inconsistencies in a Relatively Weak Market

Friday, August 29, 2008

While the Marine insurance market remains relatively weak overall, there are some signs of hardening…. 

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Aspen Re Named Best Global Reinsurance Company for Specialty Lines

Wednesday, August 27, 2008

Aspen Insurance UK Limited, a subsidiary of Aspen Insurance Holdings Limited, announced that it was named “Best Global Reinsurance Company for Specialty Lines” by….

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Leading Global Insurance Broker in Ireland Changes Name to Willis

Wednesday, August 27, 2008

Move from Coyle Hamilton Willis Reflects Increasingly Global Nature of Business....

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Andreas Bruckner New CCO at Aon Jauch & Hübener

Wednesday, August 27, 2008

The world’s largest insurance broker expands Executive Board in Germany....

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Turkish Insurer TEB Sigorta to Become Zurich Sigorta

Tuesday, August 26, 2008

Zurich Financial Services Group announced that TEB Sigorta A.S. is now operating under the global Zurich brand and the registered name Zurich Sigorta A.S.

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Allianz: First Half Year 2008

Tuesday, August 26, 2008

Allianz grows in New Europe despite tough market environment / Premiums up 10 percent in first half year 2008 / Market entry in Slovenia / ROSNO representative office in Azerbaijan.

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Allianz Germany: DIWA - More Safety for Drivers

Monday, August 25, 2008

Fourteen percent of all traffic accidents are avoidable. The new driver information system DIWA (Direct Information and Warning for Drivers) helps to prevent accidents and lessen the severity of accidents when they occur.

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Aon to Acquire Benfield Group Limited

Friday, August 22, 2008

Transaction Creates Premier Reinsurance Franchise with Global Reach, Diverse Product Capability and World Class Colleagues to Serve Clients’ Evolving Needs....

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Fortis to Sell ABN AMRO TEDA Share to Old Mutual

Thursday, August 21, 2008

Fortis Bank SA/NV, Old Mutual plc and Tianjin TEDA Investment Holding Co., Ltd have entered into an agreement for Old Mutual to acquire the 49% stake….

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Keith Tracey Appointed Chairman of Willis’ Global Professional Services Group

Monday, August 18, 2008

Willis Group Holdings announced that Keith Tracey has been appointed Chairman of Willis’ Global Professional Services Practice….

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ABI Appoints Huw Evans as Director of Corporate Affairs

Monday, August 18, 2008

The ABI (Association of British Insurers) has appointed Huw Evans as its Director of Corporate Affairs….

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Aon Launches Extortion Consulting Operation

Monday, August 18, 2008

Top expert joins firm to combat rising extortion threat….

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Zurich Closes Acquisition of 50% Stake in Caixa Sabadell

Thursday, August 14, 2008

Zurich Closes Acquisition of 50% Stake in Caixa Sabadell’s life and general insurance companies in Spain ….

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Zurich Reports Strong Operating Performance: First Half 2008

Wednesday, August 13, 2008

Zurich Financial Services Group ( Zurich ) reported another set of consistently strong results for the first half of 2008, demonstrating….

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ING Posts EUR 1.9 Billion Underlying Net Profit in 2Q

Wednesday, August 13, 2008

"ING continues to weather the turmoil in credit markets well, as write-downs on pressurized assets remained limited in the second quarter….

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Allianz Creates World's Leading Marine Insurance Provider

Tuesday, August 12, 2008

Allianz Global Corporate & Specialty and Fireman's Fund Insurance Company are combining their marine insurance businesses, confirming Allianz as the largest marine insurer in the world.

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AIRMIC Backs Continuation of EU Block Exemption

Tuesday, August 12, 2008

AIRMIC (the Association of Insurance and Risk Managers) has made a submission to the EU Commission supporting continuation of the block exemption.

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Hannover Re: Capital Market and Exchange Rate Movements Dampen Profitability for the First Half of 2008

Thursday, August 07, 2008

Capital market and exchange rate movements dampen profitability for the first half of 2008....

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Allianz Group Q2 of 2008

Wednesday, August 06, 2008

Operating profit of 2.1 billion euros achieved – Net income of 1.5 billion euros – Half-year operating profit of 4 billion euros….

Full Story >>

Willis Re Names Three Executives to Drive Global Growth Strategy

Tuesday, August 05, 2008

Willis Group Holdings announced three senior appointments at Willis Re, the company’s reinsurance arm.

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Fortis's First Half Year Net Profit of EUR 1,638 Million

Monday, August 04, 2008

Net profit up 3% in second quarter 2008 to EUR 830 million, but environment is becoming more difficult….

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Fortis CFO, CRO and General Counsel to Report to CEO

Friday, August 01, 2008

Gilbert Mittler appointed special advisor to the CEO….

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Jardine Lloyd Thompson Group plc

Friday, August 01, 2008

Jardine Lloyd Thompson Group plc announces interim results for the six months ended 30th June 2008.

Full Story >>

ACE Receives Approval to Open Representative Office in Dubai

Friday, August 01, 2008

ACE is pleased to announce the appointment of Mr. Mark Quinn as Country Manager, UAE.

Full Story >>

Lloyd’s Appoints New Representative in Ireland

Thursday, July 31, 2008

Lloyd’s announced the appointment of its first Country Manager for Ireland….

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ING DIRECT Announces Approx. 90% of Interhyp Shares Tendered

Wednesday, July 30, 2008

Public takeover bid extended….

Full Story >>

Zurich Acquires Baden-Badener Versicherung AG in Germany

Wednesday, July 30, 2008

Zurich Financial Services Group (Zurich) today announced that its subsidiary Zürich Beteiligungs-AG (Deutschland) has agreed to acquire….

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ACE Limited Reports Record Second Quarter 2008 Results

Tuesday, July 29, 2008

ACE Limited reported net income for the second quarter ended June 30, 2008, of $2.20 per common share after payment of preferred dividends, compared with $1.93 per share for the same quarter last year.

Full Story >>

Non-Financial Benefits Are The Key To Outsourcing Pensions Admin - Survey

Thursday, July 24, 2008

New research from Aon finds that the desire to focus on core business is the main driver for companies to outsource pensions administration….

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Zurich’s Global Associate Program – a Truly Global Experience

Wednesday, July 23, 2008

Zurich Financial Services Group (Zurich) congratulates the 78 successful graduates of its Global Associate Program....

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Santander to Sell Insurance Business?

Monday, July 21, 2008

Santander is in talks over the sale of its Euro 4 billion insurance business....

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Government Personal Injury Reform Proposals Are A Missed Opportunity

Monday, July 21, 2008

The Government’s long-awaited proposals for reform of personal injury compensation fail to grasp....

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Lower Investment Income Drives Down Profits at ARIG

Friday, July 18, 2008

Arab Insurance Group has announced half-year net profits of $11.4 million....

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Aon Celebrates 10 Years In Gibraltar

Friday, July 18, 2008

Chief Minister guest of honour at celebrations….

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ACE Limited Announces Completion of Re-Domestication

Friday, July 18, 2008

ACE Limited Announces Completion of Re-Domestication of Holding Company from Cayman Islands to Switzerland....

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Appointment of Managing Director for Lloyd's Brazil

Thursday, July 17, 2008

Lloyd's announced the appointment of Marco Antonio de Simas Castro as Managing Director, Lloyd's Brazil.

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ZFS Acquires in Brazil

Thursday, July 17, 2008

Zurich announced that its Brazilian subsidiary Zurich Participações e Representações Ltda. (Zurich Participações) has signed an agreement....

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Gary Schmalzriedt Appointed Chairman of Willis Re

Tuesday, July 15, 2008

Willis Group Holdings, the global insurance broker, announced that Gary Schmalzriedt has been appointed Chairman of Willis Re.

Full Story >>

Lloyd's Chairman Meets With Florida's Governor

Tuesday, July 15, 2008

Lloyd's Chairman Lord Levene met with the Governor of Florida Charlie Crist as part of the Team Florida Trade and Business Development Mission to the UK.

Full Story >>

UK: Gloomy Outlook

Monday, July 14, 2008

Gloomy outlook as consumers fail to protect themselves against economic downturn....

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Willis Group Calls on Industry to End Contingent Agreements

Monday, July 14, 2008

Proposes Standards for Making Compensation Agreements for all Brokers Transparent....

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Willis Group Strengthens Presence in Hungary

Monday, July 14, 2008

Increases Stake in Willis Kft to 100 Percent; Appoints New Managing Director....

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ING DIRECT Receives Approval for Public Takeover of Germany's Interhyp

Monday, July 14, 2008

ING DIRECT N.V. announced that it has received regulatory approval from the Dutch Central Bank....

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Zurich Joins Forces with Banco Sabadell

Friday, July 11, 2008

Acquisition of 50% stake in Banco Sabadell’s insurance operations positions Zurich among the top 2 insurers in Spain....

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A.M. Best Reaffirms Lloyd's Rating

Friday, July 11, 2008

A.M. Best has reaffirmed Lloyd's rating of A (Excellent)....

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Changes in the Management of Fortis

Friday, July 11, 2008

The Board of Directors of Fortis and M. Jean-Paul Votron have decided, by mutual agreement....

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UK: Agreement on Flood Insurance is Good News for Customers

Friday, July 11, 2008

The Association of British Insurers and the Government have reached agreement that....

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Willis Appoints Managing Director to Drive Strategic Carrier Relationships

Friday, July 11, 2008

Willis has appointed Jonathan Prinn as Managing Director, Strategic Carrier Relationships....

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AEGON Finalizes Acquisition of Turkish Life Insurance and Pension Company

Thursday, July 10, 2008

AEGON has finalized the acquisition of the Turkish life insurance and pension provider....

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Zurich Announces It Will Not Bid for Royal Bank of Scotland Insurance

Thursday, July 10, 2008

Zurich Financial Services Group (Zurich) confirmed today that....

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ING Receives Approval to Start Life Insurance in Ukraine

Wednesday, July 09, 2008

ING announced that is has received approval from the relevant authorities to start....

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Romanian Non-Life Insurance Market Will Recover in 2010

Friday, July 04, 2008

The non-life insurance market will become profitable as late as....

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Violeta Ciurel, New Regional CEO of ING Group for Greenfields in CEE

Thursday, July 03, 2008

Violeta Ciurel is the new Regional CEO of ING Group for greenfield operations in CEE.

Full Story >>

Vienna Insurance Group Sells UNITA to UNIQA Austria

Tuesday, July 01, 2008

Vienna Insurance Group and UNIQA Group Austria have signed, on June 30th, a contract....

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Chaucer Holdings Plc

Tuesday, July 01, 2008

Sale of interests in Pembroke and Syndicate 4000....

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UNIQA Group Austria to take over Romanian UNITA from the Vienna Insurance Group

Monday, June 30, 2008

UNIQA Group Austria is to take over 100% of the stock capital in Romanian property insurance....

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Romania, One of the Most Significant Increases in Life Insurance

Monday, June 30, 2008

In 2007, the Romanian insurance market has exceeded by more than 30% the rise of the global....

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ZFS – Antoine Baronnet Appointed Head of Private Banking Global Life Insurance

Monday, June 30, 2008

Zurich Financial Services Group (Zurich) announces the appointment of Antoine Baronnet (48, citizen of France) to the position of Head of Private Banking Clients....

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ABI: Information, not Legislation, Is Best Way to Help Older Insurance Customers

Monday, June 30, 2008

The announcement of the Government’s intention to publish an Equality Bill....

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Marsh Creates Bowring Marsh as its Specialist International Placement Broker for P&C Risks

Monday, June 30, 2008

Marsh announced the formation of Bowring Marsh as its specialist international placement broker for....

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Italian Antitrust Regulator Criticizes Insurance Industry

Sunday, June 29, 2008

Italy's antitrust regulator, Antonio Catricala, has said that domestic insurers and banks are too strongly....

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CEO of DIFC Authority Calls for Greater Innovation in Islamic Finance

Saturday, June 28, 2008

Nasser Al Shaali, the CEO of the DIFC Authority called on financial centres across the world to....

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The Generali PPF Holding Companies in Romania Will Keep Their Independent Policies

Friday, June 27, 2008

Generali, ARDAF, and RAI Asigurari, members of Generali PPF Holding in Romania will run....

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New CEO at Ceska Pojistovna

Friday, June 27, 2008

Ivan Vodicka will take over as CEO....

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Aon Launches M&A Service for Middle East

Thursday, June 26, 2008

Aon Risk Services, the leading global risk and insurance firm, announces the opening of a new Mergers and Acquisitions (M&A) service for....

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Willis Research Network Adds Princeton to Expand Global Reach to North America

Monday, June 23, 2008

The Willis Research Network (WRN), part of Willis Group Holdings Limited, the global insurance broker, has strengthened its position as the world’s largest collaboration between academia and the re-insurance industry by....

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Generali to Offer Bancassurance Services in Poland

Monday, June 23, 2008

General has recently signed an agreement with 350 polish cooperative banks....

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Aon Launches Tools to Tackle Global Insurance Program Compliance

Monday, June 09, 2008

Changing regulation and local laws mean that companies could be relying on invalid....

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Poland: Property Insurance Market to Grow 13.3 percent in 2008 – 2010

Wednesday, June 04, 2008

Despite the fact that Poland is the biggest insurance market in region....

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Zurich Closes Acquisition of DWS Vita SpA in Italy

Tuesday, June 03, 2008

Zurich Financial Services Group announced the completion of the acquisition of....

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New Europe: Quarterly Revenues Exceed One Billion Euros

Monday, June 02, 2008

Allianz continues its successful strategy of profitable growth in New....

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Europeans Only Somewhat Optimistic about the Future

Monday, June 02, 2008

"How optimistic are you when you think about your future and the future of....

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PZU Has a Big Appetite

Monday, June 02, 2008

On the 26 June the PZU shareholders meeting will decide about several acquisitions....

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Cooper Gay Completes Heath Lambert Acquisition

Sunday, June 01, 2008

Cooper Gay has completed the acquisition of the aerospace, reinsurance and....

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Allianz Global Investors Expands in Middle East

Thursday, May 29, 2008

Allianz Global Investors announced the opening of its Middle Eastern office and the launch of two Shariah-compliant....

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Islamic Insurance: A Growing Market Europe

Thursday, May 29, 2008

One year after the introduction of Islamic (Sharia-based) insurance products, results are....

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European Commission to Align and Strengthen Financial Services Regulatory Bodies

Thursday, May 29, 2008

The European Commission is looking to "upgrade" insurance and....

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Lloyd's Members Approve Amendments to Lloyd's Act

Wednesday, May 28, 2008

On Wednesday May 24, 2008 Lloyd's held an EGM for the membership to approve....

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New London Chief for Gallagher

Wednesday, May 28, 2008

Matthew Pike has been promoted to managing director of....

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ING Completes Share Buyback Program

Friday, May 23, 2008

ING Group announced that it has completed.....

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Disclosure of Shareholdings by Credit Suisse Group

Thursday, May 22, 2008

Zurich Financial Services announced that it received....

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ING Direct to Make Public Takeover Bid for Germany’s Largest Mortgage Distributor Interhyp

Monday, May 19, 2008

ING DIRECT N.V. announced its plan to....

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New CEO at Aon Re Global’s German Branch Aon Rück

Monday, May 19, 2008

Jan-Oliver Thofern takes over as CEO and Chairman at the....

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German Would Pay 80 Euros to Win European Football Title

Monday, May 19, 2008

ING studies the value of the European football championship...

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Ludo Wijmgaarden Steps Down as Chairman of Dutch Intermediary Division

Thursday, May 15, 2008

ING announced today that Ludo Wijngaarden, Chairman of the....

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