A.M. Best Co. announced that it has recently integrated its Asia/Pacific insurance rating and information operations to serve Japan, Australia and New Zealand under A.M. Best Asia-Pacific Ltd. in Hong Kong. “Companies in Japan, Australia and New Zealand will now …
Standard & Poor’s Ratings Services announced that Australia’s AMP Life Ltd. has been removed from CreditWatch and that its ‘AA-‘ ratings have been affirmed with a negative outlook. S&P also said it has removed the company’s U.K. subsidiaries from CreditWatch …
Twenty Lloyd’s Syndicates filed a brief with the U.S. Court of Appeal on Friday in support of Swiss Re, Travelers and other insurance companies in their battle with Silverstein Properties over whether the destruction of the World Trade Center constituted …
Atlanta’s Crawford & Company announced that fourth quarter 2002 revenues before reimbursements totaled $173.7 million, down from $178.1 million in the comparable 2001 period. Operating earnings (earnings before amortization of goodwill, net corporate interest and taxes) in the 2002 fourth …
The U.K.’s Royal & Sun Alliance is reported to be considering restructuring its operations in Australia and New Zealand prior to making a flotation of the units later this year as part of the company’s overall plan to raise capital. …
Standard & Poor’s issued a bulletin indicating that it is “monitoring the effect of the Australian bushfire crisis on the local insurance industry, given that estimates of the insurance claims bill are already exceeding A$150 million [U.S. $88 million] and …
The Insurance Council of Australia (ICA) has now estimated that insured losses from the bushfires that have devastated the area surrounding Canberra, the capital city, (See IJ Website Jan 20) may reach A$150 (U.S. $88.9 million), an increase of almost …
Two months after the worst bushfires in 80 years caused extensive damage around Sydney, Australia’s largest city, the worst fires in 50 years have been ravaging the country’s capital, Canberra and its suburbs. Four deaths have been reported and at …
Australian broker Sandy Ross correctly pointed out that yesterday’s article concerning the Board changes at NRMA omitted the fact that the organization is now essentially a motoring services provider. Its insurance activities were separated into a private company, and renamed …
Ross Turnbull, the President of NRMA, one of Australia’s largest insurance groups, appears to have been successful in his efforts to oust the company’s present Board of Directors, and replace all 14 members with his own group, dubbed “Your First …
