National Australia Bank made a surprise trump bid for AXA Asia Pacific Holdings’ Australian and New Zealand units on Thursday, in a cash deal that would value all the target firm at around $12 billion. The bid tops an offer …
According to a report from catastrophe risk modeling firm AIR Worldwide, “severe Tropical Cyclone Laurence made a second landfall this evening [Dec. 16] along the Kimberley coast of north Western Australia State. Although the storm is small in area, around …
The Hawaii State Insurance Division has successfully closed HIH America Insurance Company of Hawaii, a Hawaii workers’ compensation insurance company. Financial problems of its affiliated companies in Australia and California led to the downfall of the company in March 2001, …
Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda had concluded negotiations of a bilateral agreement with Belgium that provide for a full exchange of information on criminal and civil tax matters between Bermuda and the Kingdom …
China and other big developing nations rejected core targets for a climate deal such as halving world greenhouse gas emissions by 2050 just five days before talks start in Copenhagen, diplomats said Wednesday. China, the world’s top emitter, together with …
The Supreme Court said Monday it would decide when U.S. laws against securities fraud apply to transnational securities dealings, specifically involving a case about a shareholder lawsuit against National Australia Bank Ltd and its former U.S. mortgage unit. The justices …
U.S. President Barack Obama and other world leaders on Sunday supported delaying a legally binding climate pact until 2010 or even later, but European negotiators said the move did not imply weaker action. Some argued that legal technicalities might otherwise …
A.M. Best Co. has affirmed the financial strength rating of A’- (Excellent) and issuer credit rating of “a-” of the UK-based Sunderland Marine Mutual Insurance Company Limited (SMMI), both with stable outlooks. Best said it expects SMMI’s risk-adjusted capitalization “to …
AXA Asia Pacific rejected a $10.3 billion bid from parent AXA SA and Australian rival AMP Ltd on Monday, an initial hurdle for the French insurer’s bold ambitions to expand in Asia. AXA SA, Europe’s second-largest insurer it would raise …
Prospects for a new U.N. climate pact in December remained in the balance after talks among big emitters on Monday but with signs of action by Brazil, India and Australia. “It’s more do-able today than yesterday,” British energy and climate …
