The CPCU Society has announced that its 60th Annual Meeting and Seminars will take place in Los Angeles, Calif., on Oct. 23-26. The Annual Meeting’s Property and Casualty Insurance Track features 25 seminars about important property/casualty insurance topics and industry …
Peru’s transportation minister said the country’s largest airline, grounded because of its reputed ties to cocaine trafficking, has transferred ownership to its employees in a bid to obtain an insurance policy to restart flights, the Associated Press reported. Aero Continente’s …
Following its preliminary announcement last September, London-based ri3k, the leading provider of computer-based data processing and accounting for the reinsurance industry, announced the launch of Version 2.0 of its reinsurance infrastructure. A company bulletin described Version 2.0 as a “completely …
Mexico’s Grupo Elektra S.A. de C.V., one of the country’s biggest retailers, announced that it has received approval from the Ministry of Finance to purchase “a private insurance company in Mexico that will be renamed Seguros Azteca, S.A. de C.V.” …
Standard & Poor’s has issued new reports on the Latin American insurance industry, which concludes that the market, while still in a “developing stage,” has strong growth prospects. As far as the reinsurance market is concerned, the report noted that …
Fitch has placed all of the insurance companies in Chile that it covers on a general credit watch over worries about the weakened state of the local market and concerns over the resulting decline in their financial strength. According to …
Swiss Re has released its latest “sigma” study, which examines the insurance industry in Latin America emphasizing the growth potential of the region, but warning of the necessity to increase profitability. Sigma 2-2002 cited three main areas “impacting the Latin …
Bermuda-based PartnerRe has announced that it plans to “strengthen its market position in Latin America” with the opening of a new office, to be located in Santiago, Chile. “The new office will manage the business opportunities in southern Latin America …
The Netherlands ING Group reported a 0.4 percent increase in net profit for the first quarter of 2002 compared to the same period in 2001, to €1.136 billion ($1.05 billion), the figure also represents a 19.8 percent increase over the …
The American Insurance Association (AIA) commended the U.S. House of Representatives for passing legislation to grant Trade Promotion Authority (TPA) to the President. “This legislation is important to insurance consumers around the world,” noted Robert E. Vagley, AIA president. Vagley …
