Some Asia-Pacific nations criticized U.S. and other developed world protectionism on Tuesday at a meeting aimed at spurring a global trade pact and revitalizing the global economy. Thai Commerce Minister Pornthiva Nakasai, meeting her Asia-Pacific Economic Cooperation counterparts including the …
The contest to acquire IPC Holding appears to be over. Validus Holdings, the formerly unwelcome suitor, whose rival bid ended Max Capital’s effort to take over IPC, has emerged as the winner. Validus finally came up with $1.65 billion in …
A New York City distributor has agreed to pay more than $500,000 to settle a complaint that it was slow in reporting a defect and fire hazard linked to oscillating fans. The $587,500 penalty is part of a settlement Haier …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China) Limited (LRCCL). Best also affirmed the ICR of “a” on the …
According to catastrophe risk modeling firm AIR Worldwide, at 7:19 p.m. local time (11:19 UTC) on Thursday, July 9, a moderate earthquake struck China’s southwest Yunnan province. The USGS issued a moment magnitude of 5.7 and focal depth was estimated …
The G8 summit made scant progress towards a new U.N. climate treaty due to be agreed in December with some nations back-pedaling on promises of new action even before the end of a meeting in Italy. “This hasn’t given me …
Leaders of the world’s richest nations and major developing powers meet on Thursday to seek common ground on global warming and international trade, with the poorer countries seeking concessions. U.S. President Barack Obama will chair the climate discussions, but hopes …
Lockton Companies (Hong Kong) Ltd. announced the launch of the first “After-the-Event Insurance product (ATE) in Hong Kong.” Lockton HK is working in partnership with UK broker TheJudge, a long established broker in Litigation Risk Transfer Solutions. “ATE Insurance is …
Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise around $2 billion. U.S. private …
A global trend towards increasing weather-related disasters was confirmed in 2008, the second deadliest year in the past decade for natural catastrophes, an annual Red Cross report said Tuesday. The number of people reported killed by natural disasters last year …
