Crews have been using a robot submarine to try to stop an oil leak resulting from the explosion at an oil drilling platform off the coast of Louisiana. The oil is leaking nearly a mile below the surface of the …
Despite a sizable increase in catastrophe claims, New Jersey-based insurer Chubb saw first quarter profits climb 36 percent to $463 million, up from $341 million in the year-ago quarter. The impact of catastrophe claims for the quarter, which includes the …
A cloud of volcanic ash drifting eastward from Iceland has halted flights across northern Europe, causing widespread disruption. Below are some questions and answers on the aviation risk. What is volcanic ash? Plumes of dust spewed out by volcanoes usually …
The aircraft leasing unit of bailed-out insurer American International Group has agreed to sell 53 passenger jets to Australia’s Macquarie Group to raise a much-needed $2 billion in cash. International Lease Finance Corp. (ILFC), a top customer of Boeing and …
Tower Australia Ltd will be interested in buying the “well-run” Australian business of AIA if it comes up for sale, as it moves into the fast-growing group insurance sector, Tower’s chief executive said on Thursday. “It is something we will …
The Supreme Court indicated this week it could prohibit foreign investors from using U.S. securities law and American courts to sue a foreign bank for fraud. The court heard argument in a challenge from Australian investors who want to sue …
The El Nino warming the Pacific Ocean since June has peaked, but is expected to influence climate patterns worldwide up to mid-year before dying out, the World Meteorological Organisation (WMO) said Tuesday. However, the United Nations agency said that forecasting …
A tropical cyclone forced Australia’s second-biggest coal port to close on Friday, bringing millions of tons of coal shipments to a halt and threatening to damage thousands of acres of sugar-cane fields. Australia’s Dalrymple Bay coal terminal ceased operations due …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of the Chubb Group of Insurance Companies and its P/C members. Best also affirmed the ICR of “aa-“, senior debt …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings reflect GIC’s “strong capitalization, stable expense ratio and established …
