As a large region with solid prospects for long-term growth, Latin America continues to gain in popularity as a market for many U.S. companies. Exporters to this region, however, can face significant challenges when it comes to getting their goods …
Global warming is more than a third to blame for a major drop in rainfall that includes a decade-long drought in Australia and a lengthy dry spell in the United States, a scientist said on Wednesday. Peter Baines of Melbourne …
Research showing an El Nino event in 1918 was far stronger than previously thought is challenging the notion that climate change is making El Nino episodes more intense, a U.S. scientist said on Tuesday. El Nino causes global climate chaos …
Fitch Ratings has taken rating actions on its national scale insurer financial strength (IFS) ratings on American International Group’s Latin American subsidiaries. The rating actions, which are summarized below, follow Fitch’s decision to affirm AIG’s “Issuer Default Rating (IDR) of …
Mapfre Re announced that it has been authorised to establish a local reinsurer in Brazil, through its new subsidiary MAPFRE RE DO BRASIL Companhia de Reasseguros. The bulletin noted that Bosco Francoy, “together with a group of talented managers,” will …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of SALAMA Islamic Arab Insurance Company (P.S.C.), which is based in the United Arab Emirates. The outlook for both ratings …
Mediators in the core agriculture and industrial goods negotiations at the World Trade Organization (WTO) issued new proposals on Monday, clearing the way for a meeting of ministers to clinch an outline trade deal. The revised proposals, or texts, trigger …
The World Bank launched a new catastrophe loan facility on Tuesday, March 4, and revised an existing contingency credit line designed to help increase its business with middle-income countries. The World Bank board approved the Catastrophe Risk Deferred Drawdown Option …
Lloyd’s announced that it has become the first foreign entity to take advantage of a recent regulatory change in Chile’s insurance practice. Following the signing of a Free Trade Agreement in 2007 “between Chile and the European Union, the South …
AIR Worldwide Corporation announced that it estimates insured losses from a major earthquake that struck the coast of Chile on Wednesday will likely not exceed $80 million. AIR noted that the “USGS has issued a preliminary magnitude estimate of 7.7Mw. …
