- Home/Publications/World Insurance Report
India to lift 26% FDI cap
Asia
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
JLT launches Malta captive company
Europe
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
AIG elects vice presidents
North America
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Aon launches global unit
International
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Aviation
9.1, crash, fatalities
Iraq: thirty people were killed when an Antonov-26 carrying Turkish workers crashed north of Baghdad. The aircraft was travelling from the province of Adana in southern Turkey to Iraq. Thirty construction workers and five crew..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Natural catastrophes
9.1, torrential rain
Brazil: communities across southeastern Brazil declared a state of emergency as torrential rain continued to cause extensive damage in the region. At least 50 people were reported to have died, more than half of them in the..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Marine
9.1, collision
United Arab Emirates: a US nuclear powered submarine collided with a Japanese tanker near the Straits of Hormuz. The USS Newport News
did not sustain substantial damage, and there were no injuries to crew. There were no oil spills..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Liability, awards and settlements
9.1, Graniteville train wreck class action
US: residents and workers injured by chlorine exposure from the 2005 Graniteville train wreck would receive a lump-sum payment ranging from $9,375 to $22,500 each under a proposed class-action..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Road and rail
16.1, derailment, fatalities
Indonesia: at least five people were killed and over 270 others wounded after one of the railroad passenger cars of a train skidded on a bridge and plunged into a ravine in Indonesia’s central Java province.
13.1,..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Property damage and business interruption
10.1, bird flu
Asia: a 14-year-old Indonesian boy has died of bird flu, taking the country’s human death toll to 58. The boy, from Tangerang in West Jawa, near Jakarta, was hospitalised in the capital a week earlier. The Indonesian Health..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Arab Insurance Group
Life reinsurance accounted for $5.6mn of the group’s gross premiums in 2005 but it is seen as a key growth area for the future
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Tax and capital flight loopholes closed, but insurance market sees fall in liability and property premium income
Although the Latvian market continues to develop positively, some observers suggest that in the long-term the largest risks will be placed outside the country while mass risks will be covered to a large extent by bank-related insurers
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
R&SA boosted by favourable US asbestos ruling
The value of the insurance and reinsurance stocks tracked by WIR
generally fell during the two week period ending 25 January. The fall was generally due to the perception of macro economic trends in the US, particularly the increasing pressure on..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Equitable Life inquiry clashes with Irish regulator over disclosures
The European Parliament inquiry is demanding the IFSRA provide details of correspondence with other regulators
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
European Parliament and Commission feud over motor claims law
MEPs argue that a court should be able to apply the motor accident victim’s national law to calculate damages
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Allianz buys out AGF and Allianz Lebens as part of SE transfer
The acquisitions will cost Allianz €7.5bn • Insurers count Kyrill damages • Skandia sells Skandia Vida to CNP Assurances • Aegon and Sony Life form annuity company • Converium forms links in Brazil as the market opens to foreign reinsurers
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Robert Jensen, chief executive, Kenyon International
Over the last decade, Kenyon International has been responsible for the recovery, identification and return of the deceased and their personal effects after a number of major airline crashes and other high profile disasters including the 9/11 terrorist attacks, the bombings of the night club in Bali and the US embassy in Baghdad, the Asian Tsunami, and the flooding of New Orleans after Hurricane Katrina. But the company’s relationship with the aviation insurance sector is far from easy: Mr Jensen says that there are still some underwriters who refuse to pay for DNA analysis of human remains and thereby deny families the comfort of having a loved one buried in an individual rather than in a mass grave
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Reinsurers drive hard bargain as insurers fight for volume
Insurers are facing tough negotiations with reinsurers as they push through stiffer terms
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Life insurance sales climb but penetration rates remain low
Banks need to reconsider distribution channels if they are to reach meaningful levels of life sales, according to new research
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
New legislation to cut rates will damage competition, NAMIC
The insurer body objects to measures that force auto insurers in Florida to also offer homeowners’ policies under new law
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
The continuous nature of risk in emerging markets
Global businesses need to adopt formal structures to assess the ongoing risks posed by political instability and unrest in emerging markets if they are to protect their growing investment in these areas, according to Alisdair Ross
, senior analyst at the Economist Intelligence Unit. The EIU conducted a survey of 177 executives around the world about their attitudes to operating risk management in the context of emerging market investments. The survey and the subsequent report (an edited extract of which appears here) were sponsored by the London market insurance group, Ace Global Markets and by IBM and KPMG.
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Satisfaction does not guarantee loyalty
A satisfied insurance customer isn’t necessarily a loyal one, according to the first World Insurance Report, an international study of over 10,000 insurance customers, insurers and distributors by the consulting, technology and outsourcing..
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007
Quinn takes up the challenge in the Irish health market
Quinn will freeze premiums this year in an effort to retain as many of BUPA’s 450,000 policy holders as possible
Online Published Date:
02 February 2007
Appeared in issue:
805 - 02 February 2007