There’s a need for state-based insurance regulation, according to Hawaii Insurance Commissioner J. P. Schmidt. Speaking to professors and experts in finance from around the world in his keynote speech at the 16th Annual Global Financial Conference. Commissioner Schmidt’s speech …
Trade credit insurer Coface notes that the current “credit crisis, which entered its second phase in the fourth quarter of 2008, is worsening in all regions. After observing a decline in the average financial strength of companies in 22 countries …
World leaders clinched a $1.1 trillion deal on Thursday to combat the worst economic crisis since the Great Depression and said financial rules would be tightened to stop it happening again. U.S. President Barack Obama declared it a “turning point” …
World Trade Organization Director General Pascal Lamy pressed U.S. trade officials Monday for a strong commitment to finishing the Doha round, while a U.S. business leader warned against accepting a “phony deal” just to wrap up the talks. Lamy’s trip …
Marsh has launched a report highlighting the key risks companies face as the global economy slows and advice about how to tackle them. Entitled “Managing Through the Downturn,” the report highlights issues around capital management, liability and trading risks, addressing …
Zurich Financial Services AG will find this year tougher than 2008, when profit fell 47 percent, a senior executive of the Swiss insurer said on Wednesday. Patrick O’Sullivan, vice chairman of the management board and chief growth officer, said Zurich …
Insurers Catlin, Beazley, Amlin, Hiscox and Newcomer Torus Find Their Niche in U.S. Market Find a need, then fill it,” is a hoary business principle, but making it work is often harder than it looks. However, a number of British …
Willis International, a unit of Willis Group Holdings, has announced the appointment of Edward Fyfe as Managing Director of its growing Latin American reinsurance operations, effective immediately. He is based in Lima, Peru, and will report to Eugenio Paschoal, CEO …
A.M. Best Co. has affirmed the financial strength rating (FSR) of A++ (Superior) and issuer credit ratings (ICR) of “aa+” of the Chubb Group of Insurance Companies and its P/C members. Best also affirmed the ICR and senior debt ratings …
Swiss insurer Zurich Financial Services Group, a serial acquirer in recent years, is not letting tighter credit markets hamper its pursuit of acquisitions, a company executive said on Monday. “Zurich is definitely in a position where it can consider acquisitions,” …
