A new study, released by the UK-based Maplecroft, has determined that “the increase in both frequency and severity of climate related disasters is increasingly impacting upon developed and emerging economies.” Maplecroft, according to its web site (www.maplecroft.com ) provides quantitative …
The types of risks classified under the energy insurance category range from offshore energy (exploration and production), offshore energy construction, onshore energy (oil refining, gas processing, petrochemical plants and biomass), operational engineering (power stations, including thermal, wind, nuclear and solar), …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Atradius Credit Insurance N.V., Atradius Reinsurance Ltd., Atradius Trade Credit Insurance Inc., and Compañía Española de Seguros y Reaseguros de Crédito y Caución …
The UK’s Prudential Plc and Canada’s Manulife Financial Corp made preliminary offers for American International Group Inc.’s Asian unit, but Prudential’s offer fell short of what AIG wants for the business, sources familiar with the matter said. Chinese insurer China …
A group of Florida homeowners sued German drywall maker Knauf Gips KG, its Chinese plasterboard units and several U.S. homebuilders on Monday, alleging contaminated drywall is sickening U.S. homeowners. The lawsuit said defective Chinese-made drywall was used during a building …
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 …
Standard & Poor’s Ratings Services has placed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. on CreditWatch with positive implications following the company’s announcement that it will merge with IPC Holdings Ltd., a leading provider of property catastrophe …
The U.S. government may agree to finance the purchase of some American International Group Inc businesses and take direct stakes in others, a person familiar with the matter said Thursday. The wide range of options under discussion between the insurer …
Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a source close to the matter. Another …
Reinsurers have begun 2009 determined to wrest back the initiative from a period of softening rates and savagely declining investment returns. As a consequence, underwriters are increasingly being governed by the financiers dictating a return on capital and forcing through …
