Australia wants World Trade Organization members to recognize that reaching a comprehensive deal in decade-old world trade talks has become impossible and to focus instead on a series of smaller pacts, the country’s top trade official said on Wednesday. “We …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited, QBE Insurance (International) Limited (Australia) and QBE Reinsurance (Europe) …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and issuer credit rating to ‘bbb’ from ‘a-‘of Ansvar Insurance Limited (New Zealand), and has placed both ratings under review with negative implications. The rating …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued a bulletin indicating that Australian and New Zealand insurers, who were hit with “catastrophic events” in 2010 and 2011, had “nearly two-thirds of the losses reinsured.” …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., will urge insureds and insurers to “look at the bigger picture as cat events become more complex,” at its 12th Hazards Conference in Surfers Paradise, near Sydney, Australia …
Insurance Australia Group, Australia’s top home and car insurer, reported a more than two-fold jump in annual net profit on Thursday but its outlook knocked the shares lower. IAG forecast profit margins of 10-12 percent for the year to June …
Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But Suncorp, whose reinsurance cost …
XL Insurance, the global insurance operations of XL Group plc, announced the appointment of Andrew Hookings as Environmental underwriter for Australia. He has over 10 years’ insurance industry experience, most recently as Client Relationship Manager for XL Insurance in Sydney. …
QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on 14 June 2011.” QBE …
Rupert Murdoch on Thursday caved in to pressure from Britain’s parliament to answer questions over alleged crimes at one of his newspapers, setting up a showdown with lawmakers keen to break the media mogul’s grip on politics. British police arrested …
