BREAKING NEWS

Insurance market

Business

French insurer AXA to stop investing in tobacco industry

French insurer AXA has said it plans to stop investing in the tobacco industry with incoming Chief Executive Thomas Buberl saying: "The human cost of tobacco is tragic; its economic cost is huge."

French insurer AXA has said it plans to stop investing in the tobacco industry with incoming Chief Executive Thomas Buberl saying: "The human cost of tobacco is tragic; its economic cost is huge."

Business

Generali shares fall despite 22% profit increase

Shares of Italian insurance company Generali fell on Friday, even though it posted a 22 percent increase in full-year net profit.

Shares of Italian insurance company Generali fell on Friday, even though it posted a 22 percent increase in full-year net profit.

Business

Swiss Re reports shows drop in economic losses from disasters

A study by the world’s second biggest reinsurer Swiss Re has shown total economic losses from natural catastrophes and man-made disasters was 37

A study by the world’s second biggest reinsurer Swiss Re has shown total economic losses from natural catastrophes and man-made disasters was 37

News

US Supreme Court throws out second Obamacare challenge

Supporters of America’s controversial health law dubbed Obamacare are celebrating their latest victory in the Supreme Court. Judges threw out a

Supporters of America’s controversial health law dubbed Obamacare are celebrating their latest victory in the Supreme Court. Judges threw out a

Business

Aviva agrees Friends Life takeover

UK insurance giant Aviva has agreed the terms of its six billion euro takeover of rival insurer Friends Life. The move will create the UK’s

UK insurance giant Aviva has agreed the terms of its six billion euro takeover of rival insurer Friends Life. The move will create the UK’s

Business

Aviva and Friends Life to merge as companies seek fresh start

Insurers Aviva and Friends Life have agreed terms for a possible all-share merger, with Aviva offering Friends shareholders a 15% premium for a 26%

Insurers Aviva and Friends Life have agreed terms for a possible all-share merger, with Aviva offering Friends shareholders a 15% premium for a 26%

Business

Zurich chairman Ackermann quits over CFO's suicide

Josef Ackermann has resigned as chairman of Zurich Insurance over the apparent suicide of its chief financial officer, Pierre Wauthier. Ackermann –

Josef Ackermann has resigned as chairman of Zurich Insurance over the apparent suicide of its chief financial officer, Pierre Wauthier. Ackermann –

Business

ING profit hit by Asian losses, on track for divestment

Dutch financial group ING’s suffered a 39 percent drop in quarterly net profit at 788 million euros. It was hit by a 98 million euro loss from its

Dutch financial group ING’s suffered a 39 percent drop in quarterly net profit at 788 million euros. It was hit by a 98 million euro loss from its

Business

Insurers face major payouts for Spanish train crash

German insurance company Allianz faces a big bill for compensation payments following the deadly train crash in northern Spain – that includes death

German insurance company Allianz faces a big bill for compensation payments following the deadly train crash in northern Spain – that includes death

Business

Iconic Lloyds of London tower sold to Chinese insurer

Chinese insurer Ping An has bought the landmark London home of insurance market Lloyds of London for the equivalent of 300 million euros. It was

Chinese insurer Ping An has bought the landmark London home of insurance market Lloyds of London for the equivalent of 300 million euros. It was

Business

British insurer Aviva cuts 2,000 jobs

Aviva has confirmed it will cut as many as 2,000 jobs worldwide over the next six months – six percent of its workforce. It is the latest cost

Aviva has confirmed it will cut as many as 2,000 jobs worldwide over the next six months – six percent of its workforce. It is the latest cost

Business

Prudential fined over AIA deal

Britain’s largest insurance company, Prudential, has been fined the equivalent of 35 million euros over its failed attempt to buy Asian rival

Britain’s largest insurance company, Prudential, has been fined the equivalent of 35 million euros over its failed attempt to buy Asian rival

Business

Lloyds PPI mis-selling bill rises

Britain’s biggest high-street bank Lloyds says it has set aside the equivalent of another 1.75 billion euros to compensate customers who were wrongly

Britain’s biggest high-street bank Lloyds says it has set aside the equivalent of another 1.75 billion euros to compensate customers who were wrongly

Business

Generali bets on the east

Italy’s biggest insurer Generali has ended the uncertainty over its strategy in Eastern Europe. It has decided to take full control of GPH, the

Italy’s biggest insurer Generali has ended the uncertainty over its strategy in Eastern Europe. It has decided to take full control of GPH, the

Business

HSBC sells Chinese insurer stake

HSBC is selling its stake in China’s Ping An Insurance for 7.2 billion euros. The buyer is CP group, a conglomerate controlled by Thailand’s

HSBC is selling its stake in China’s Ping An Insurance for 7.2 billion euros. The buyer is CP group, a conglomerate controlled by Thailand’s

Business

Break-ING up is not so hard to do

The European Commission has agreed to make the separation of ING’s banking and insurance activities a little easier. The Dutch group has been given

The European Commission has agreed to make the separation of ING’s banking and insurance activities a little easier. The Dutch group has been given

Business

ING looks to selling Asian insurance unit

Dutch bank and insurer ING is likely to sell its Asian insurance division in several separate deals to get the best price. Reportedly the offers

Dutch bank and insurer ING is likely to sell its Asian insurance division in several separate deals to get the best price. Reportedly the offers

Business

Lloyd's insurers ready for euro collapse

The Lloyd’s of London insurance market has reduced its exposure “as much as possible” to the eurozone in case the bloc’s currency collapses. That

The Lloyd’s of London insurance market has reduced its exposure “as much as possible” to the eurozone in case the bloc’s currency collapses. That

Business

Shareholder Spring shakes Aviva

Aviva, Britain’s second biggest insurance company, is the latest to be shaken up by the so-called Shareholder Spring. Andrew Moss, its chief

Aviva, Britain’s second biggest insurance company, is the latest to be shaken up by the so-called Shareholder Spring. Andrew Moss, its chief

Business

HSBC quits the insurance game

HSBC is selling its insurance businesses to France’s AXA and Australia’s QBE. The price is the equivalent of 696 million euros in cash. It is the

HSBC is selling its insurance businesses to France’s AXA and Australia’s QBE. The price is the equivalent of 696 million euros in cash. It is the

News

French health insurer to sue PIP's boss

France’s national health insurance agency says it is to sue the boss of breast implant maker PIP, Jean-Claude Mas. The French health minister says

France’s national health insurance agency says it is to sue the boss of breast implant maker PIP, Jean-Claude Mas. The French health minister says

Business

Disasters slam Lloyd's of London's profits

Lloyd’s of London’s profits have been swallowed up and washed away by an unprecedented series of natural disasters. The insurance market’s

Lloyd’s of London’s profits have been swallowed up and washed away by an unprecedented series of natural disasters. The insurance market’s

Business

US counts material cost of Irene

For the insurance industry this year has already been the most expensive for natural disasters in the history of the world, mostly because of the

For the insurance industry this year has already been the most expensive for natural disasters in the history of the world, mostly because of the

News

Bill for UK riot damage tops 113 million euros

The latest estimate has put the bill for the damage in the UK at 100 million pounds – that is 113 million euros. Insurers face paying out a fortune

The latest estimate has put the bill for the damage in the UK at 100 million pounds – that is 113 million euros. Insurers face paying out a fortune

News

UK police 'make money out of car crashes'

It’s been revealed that the police in Britain are profiting from car accidents by openly charging garages and breakdown companies in exchange for

It’s been revealed that the police in Britain are profiting from car accidents by openly charging garages and breakdown companies in exchange for

Business

Aviva selling RAC to Carlyle Group

British insurer Aviva is selling its RAC roadside rescue business to the private equity firm Carlyle Group for the equivalent of 1.12 billion euros

British insurer Aviva is selling its RAC roadside rescue business to the private equity firm Carlyle Group for the equivalent of 1.12 billion euros