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World insurance stock prices
Company/group
Currency
2000 year-end
21/9/01
4/10/01
Change from
21/9/01 %
Capitalisation US$ mn
Source: iiudata
Ace
US$
42.44
20.95
34.11
62.8
7,915
AIG
US$
98.56
68.90
80.14
16.3..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Company profile: Labuan Re
After several years of declining premium volume, Malaysian offshore reinsurer Labuan Re increased gross premium income by 21% to US$41.5mn in 2000.
Premiums from overseas business jumped by 50.5% to $11mn, increasing the share of foreign business..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Company profile: China International Re
China International Reinsurance Company had a particularly good year in 2000, its 20th year of operation.
The company, which is based in Hong Kong and is part of China Insurance Group, saw its pretax profits rise by 4% to HK$110mn (US$14mn)..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
London Re
Canadian composite reinsurer London Reinsurance Group (London Re) managed to expand its business by nearly a third last year but its underwriting and pretax results suffered from significant losses on its accident/health (A&H) and Lloyd’s..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Egypt
Market regulation and supervision shaped by economic growth
T
he insurance industry in Egypt started in the middle of the 19th century through the presence of agencies or subsidiaries of foreign (particularly British and French) insurance groups...
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Strike Club
Charting an independent course
The Shipowners’ Mutual Strike Insurance Association, known as the Strike Club, operates on the same cooperative principles as the rest of the marine protection and indemnity (P&I) market but is not in the..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Are the terrorist attacks in the US one tragic event or a number?
T
he insurance communities have given assurances that policy coverage issues from the US terrorist attacks on 11 September will be handled expeditiously and sympathetically, but there must be a risk that these assurances will pale in years to..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Gan loses CIC links
Groupama and CIC have confirmed they are unwinding the arrangement that linked insurer Gan (subsequently bought by Groupama) to CIC (which has since been bought by Banque Fédérative du Crédit Mutuel (BFCM)).
In the process Groupama is..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Vietnamese nonlife market gathers speed
After a weak performance last year, the nonlife market in Vietnam is showing improved growth for the first half of 2001.
Premium income increased by 19% in the six months, double the rate achieved in the same period of 2000.
The latest figure,..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Poor investment performance pressures AGF
AGF was among a number of companies that cited the attacks on the US as a reason to refrain from making full-year profit forecasts when announcing its half-year results.
But in the case of AGF it was the increased uncertainty over the future..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Irish motor market in turmoil
Companies may be forced to withdraw from the Irish motor insurance market if what are described as unsustainable losses continue, warns the Irish Insurance Federation (IIF).
A sharp deterioration in the motor account drove the country’s..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Secure in the face of adversity
Contrary to some analysts’ gloomy predictions that the reinsurance industry will be hard pressed to pay claims in the wake of the 11 September terrorist attacks in the US,
Donald S Watson
, director of reinsurance at rating agency Standard..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
18 September – 1 October 2001
Property and business interruption
20.9, collapse of hotel, fatalities
Turkey: a two-storey budget hotel in Istanbul’s commercial district of Aksaray collapsed, killing four people. About 30 hotel guests made their way to safety after the..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Company profile: Secura
There was a significant deterioration in Belgian reinsurer Secura’s bottom-line performance in 2000 when a €8.5mn pretax profit was transformed into a €4.5mn loss. The downturn was due to adverse claims development on the 1999..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Country focus: Philippines
Nonlife market contracts as fierce competition drives rates down
According to data recently released by the Philippines Insurance Commission (part of the Department of Finance) there were 112 insurance companies active in the Philippines nonlife..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
IUMI conference
Marine underwriters increase rates in wake of US terrorist attacks
The retreat in the marine insurance market is well and truly over. Even before the terrorist upheaval in the US in September, the market had been slowly turning since early this..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Russia to offer state guarantees to airlines
Russian aeroplanes bound for international destinations may be grounded if the government does not offer guarantees for insurance of risks against terrorist acts or war.
After hijacked aircraft struck the World Trade Center in New York and the..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Gerling/NCM merger set to benefit credit insurance sector
Coface president and chief executive François David held out the prospect of improved premium rates in the credit insurance market for his group after the merger of Gerling and NCM.
The two companies – the fourth and fifth largest players..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
French insurance unions in disagreement over introduction of 35-hour week policy
Local politics played a part in complicating the introduction of the 35-hour working week into the French insurance industry. France’s socialist-led government has designed the policy in an effort to reduce unemployment.
Last week the..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001
Offshore financial centres come under fresh scrutiny
Just when the Caribbean offshore insurance sector thought the pressure had been taken off the region with the removal of the Bahamas and Cayman Islands from the money-laundering blacklist, the 11 September terrorist incidents in the US have thrown..
Online Published Date:
12 October 2001
Appeared in issue:
673 - 12 October 2001