British track and field athletes will need to sign performance-based contracts in order to get funding under a new sponsorship agreement aimed at producing champions for the 2012 London Olympics. The five-year, 50-million-pound (US$87.5 million; euro71.4 million) deal announced Wednesday …
A bulletin from Australia’s Insurance Disaster Response Organisation (IDRO) notes that claims from Cyclone Larry, which devastated parts of Northern Queensland last month (See IJ Website March 21 and updates) have now reached A$350 million (U.S.$255.8 million). IDRO said that …
Columbus, Ohio-based Assurex Global has added new partners in Australia, Switzerland and Austria. OAMPS Insurance Brokers, Ltd. in Australia; GWP Insurance Brokers in Switzerland; and Assurance Partners Versicherungsmakler – und beratung GmbH in Austria were named Assurex Global Partners. OAMPS …
Insurance Australia Group Limited announced that its Thai investment holding company, NHCT Limited, has successfully completed its tender offer for shares in Thailand’s Safety Insurance Public Company Limited. NHCT has now acquired approximately 98 percent of Safety Insurance. It has …
Insurance losses from Tropical Cyclone Larry, which struck Northern Australia last week (See IJ Website March 20, 22), have reached A$250 million (U.S. $177.3 million), according to the Insurance Disaster Response Organization (IDRO). So far around 12,500 claims have been …
Standard & Poor’s Ratings Services announced that it has assigned its ‘AA-‘ long-term counterparty credit rating to Insurance Australia Group Ltd., with a stable outlook. “The rating reflects IAG’s role as the group’s ultimate holding company, its access to a …
Crawford & Company announced that its Australia operation has activated its catastrophe plan in the wake of Cyclone Larry, the category five cyclone that struck Australia on Monday morning (See IJ Website March 20). Crawford said its “claims professionals from …
Preliminary reports of claims following the passage of Tropical Cyclone Larry through Northern Australia (See IJ Website March 21) have put insured losses at around A$90 million (US$65.6 million). According to reports around 4000 claims have so far been received. …
Tropical Cyclone Larry hit Northern Australia as a category 5 storm with winds of up to 290 kph (175 mph) the most powerful in memory. Larry came ashore near the town of Innisfail in the State of Queensland, about 100 …
Guy Carpenter & Company Inc., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, announced the appointment of Ray Carless as Executive Chairman of its Australia, New Zealand and Pacific operations, Guy Carpenter …
