The brush fires raging near Sydney, Australia’s largest city, (See IJ Website, Dec. 27) continued to burn out of control over the weekend, as milder weather, which was helping the 15,000 firefighters control the flames, gave way to scorching winds …
Over 100 brush fires, fanned by high winds and temperatures exceeding 100°F, continue to ravage the suburbs of Sydney, Australia’s largest city, and Canberra, the country’s capital. 150 homes have been destroyed so far, and thousands of people have been …
Australia’s QBE announced that it has acquired Reliance National Brasil Seguros, S.A. and has renamed the company QBE Brasil Seguros, S.A.,headquartered in Sao Paulo with a branch in Recife, one of the main business centers in the Northeastern Region of …
Between $10 billion-$20 billion of new capital will flow into the global insurance market over the next six months, with the bulk going into the reinsurance industry, Standard & Poor’s reported. “We have already seen proposals for a number of …
Yesterday’s crash of an American Airlines A-300-600 into a residential neighborhood in Queens is likely to result in claims totaling between $600 and $800 million according to preliminary estimates. While it’s still too early to determine the cause of the …
Royal & Sun Alliance’s “More Than” Unit became the first U.K. insurer to offer safe drivers a plan to keep their no-claims bonus for life. Under the terms of the plan announced Friday existing customers who have had no claims …
Australia’s QBE and Bermuda’s RenaissanceRe have launched public offerings of their shares in an effort to raise additional capital. QBE, which controls around 8 percent of the Lloyd’s market, and is heavily committed to reinsurance portfolios has estimated its losses …
A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to the world insurance industry of …
S&P assigned its “AA+” long-term rating to the guaranteed and unsubordinated series of wholesale notes to be issued under the NZ$300 million medium-term note program of NRMA (NZ) Holdings Ltd. NRMA Insurance Ltd. (NRMA, rated “AA+” for insurer financial strength) …
The underwriting entities which make up Australia’s QBE Group became the first insurers to be downgraded by Standard & Poor’s following its assessment of the group’s exposure to the World Trade Center disaster. The international rating agency announced today that …
