HSBC Insurance Brokers Limited announced that it has established a branch office and received regulatory approval from the Qatar Financial Center (QFC) Authority to provide insurance broking services to corporate customers within The State of Qatar. Steve Bonynge, Managing Director …
The global credit crisis claimed its first Japanese financial institution on Friday and the government looked to prop up smaller banks, as Tokyo shares suffered their biggest rout since a 1987 crash. Government ministers played down the risk of contagion …
American International Group’s meltdown may serve at least one (if not more) positive purpose: spotlighting the difference between the insurance professional and the non-professional. Insurance professionals will have the necessary knowledge and even wisdom to respond calmly and rationally to …
A prolonged recession and a tight credit market would cripple New Orleans’ still-fragile recovery from Hurricane Katrina, delaying or eliminating road work, new construction and repairs to homes and businesses that have stood empty since 2005. The city’s infrastructure plans …
The five-year period spanning from 2003-2007 served the homeowners insurance line favorably after the dismal 20-year period that preceded it, and return on surplus for the line averaged an estimated 11 percent for those five years. But while returns relative …
Allowing Lehman Brothers to fail last month was a major mistake for the equilibrium of the global financial system, French Economy Minister Christine Lagarde said on Wednesday, adding that France would not abandon its lenders. Seeking again to reassure the …
European governments struggled on Monday to shelter banks and bank depositors from a global financial crisis that is eroding confidence, endangering the economy and challenging their ability to respond as one. Germany promised blanket deposit protection for bank savers, prompting …
With the passage of the $700 billion rescue package, the financial industry will face greater congressional scrutiny in coming weeks and months. Further-reaching regulation is almost certain. Previously obscure corners of the industry now subject to few rules, such as …
These are historic times. The country and the world are learning the hard way how intertwined the insurance industry is with the global economy. A respected private insurer — American International Group — called too big to fail had to …
California Insurance Commissioner Steve Poizner took an initial step toward seeking the Republican nomination for governor in 2010. Poizner filed papers with the Secretary of State’s office to form an exploratory committee as he considers entering the race to succeed …
