The US government has had its patience and investment rewarded for its bailout of American International Group (AIG) in 2008, as in September it saw a profit of $12 billion after selling $18 billion worth of stock in the firm.
Fitch Ratings says its outlook for the global reinsurance sector remains stable, as capital, underwriting and operating trends are expected to support reinsurers’ current ratings over the next one to two years.
Global reinsurance intermediary Aon Benfield has released the latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred around the world during August.
Taiwanese life insurer China Life Insurance is predicted to continue to outperform its peers, despite a challenging operating environment in which years of low interest rates and few opportunities for long-term investment have caused many insurers to pursue opportunities elsewhere.
A number of global insurance companies have had to defer their plans for entry into India’s domestic market due to uncertainty surrounding policy frameworks and rising costs in the wake of new Insurance Regulatory and Development Authority (IRDA) guidelines.
The latest sigma report from Zurich-based reinsurer Swiss Re has shown a 17.1-per-cent rise in the total premiums of 13 Middle East and North African (MENA) markets in 2011, taking the total combined figure to US$31.4 billion (a 0.7-per-cent share of global premiums).
Price adjustment in compliance with the European Court of Justice’s recent ruling on gender-neutral premiums is not expected to have any significant impact on UK life insurers, according to global ratings agency Fitch Ratings.