Munich Re has released its analytical report on the natural catastrophes that occurred in 2008, which the reinsurer describes as, “one of the most devastating years on record.” 2008’s major catastrophes included a number of tropical cyclones (hurricanes and typhoons) …
Lloyd’s has announced the appointment of Volker Eutebach as its first Market Relations Manager for Germany and Austria. He joined Lloyd’s on December 1st, and will be based in Frankfurt, working closely with the Lloyd’s legal representatives for Germany and …
Standard & Poor’s Ratings Services has affirmed its ‘BBB-‘ counterparty credit ratings on Max Capital Group Ltd. and Max USA Holdings Ltd. The outlook on both companies remains positive. “The counterparty credit rating on Max Capital reflects its good competitive …
European governments struggled on Monday to shelter banks and bank depositors from a global financial crisis that is eroding confidence, endangering the economy and challenging their ability to respond as one. Germany promised blanket deposit protection for bank savers, prompting …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from ‘A+’. S&P also placed the ratings on CreditWatch with negative implications. …
The United States is discussing with allies how insurance firms can more rigidly apply sanctions on Iran to step up pressure over its disputed nuclear program, a senior U.S. Treasury official said on Tuesday. Stuart Levey, Treasury undersecretary for terrorism …
In a recent interview, published on the Lloyd’s web site (www.lloyds.com), Enrico Bertagna, Regional Manager for Europe, discussed Lloyd’s present and future plans to expand the London Market’s presence. Europe is a vital region for Lloyd’s and there are plans …
UK Flood Model Risk Management Solutions has released a major new upgrade to its U.K. Inland Flood Model. “The upgraded model will enable all segments of the insurance industry to drill down to a finer level of detail than ever …
Transatlantic Reinsurance Company (TRC), a subsidiary of Transatlantic Holdings, announced the opening of a representative office in Munich, Germany, headed by Rüdiger Skaletz. He has extensive experience with almost two decades of serving insurance and reinsurance clients in Germany and …
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ junior subordinated long-term debt rating on the €250 million ($387 million) undated, subordinated notes issued by Austria-based Wiener Staedtische Versicherung AG Vienna Insurance Group (WSV AG; A+/Positive/–), following receipt of final …
