A militant group linked to al Qaeda said on Wednesday that a suicide bomber was responsible for a mysterious explosion on a Japanese-owned oil tanker a week ago near the Strait of Hormuz. But analysts are sceptical about the belated …
In the blink of an eye, the economic focus in Louisiana has shifted from recession recovery to avoiding actual and potential job losses piling up at a staggering rate. And there’s very little that the state can do: The tally …
Standard & Poor’s Ratings Services has revised its subordinated debt rating on Avalon Re Ltd.’s Class C notes to ‘D’ from ‘CC’. S&P explained that “paid losses related to Hurricane Katrina and the explosion at the Buncefield oil depot totaled …
J.P. Schmidt, Insurance Commissioner of the State of Hawaii, announced he be leaving his position to join the Honolulu law firm of Bays Deaver Lung Rose Holma, effective July 1. Schmidt will be practicing general business, corporate and government regulatory …
Gloom and frustration pervaded the World Trade Organization on Monday as the prospects of completing a new global commerce pact this year receded. The WTO’s 153 members had agreed to take stock at the end of March on whether the …
Trade ministers expressed gloom on Saturday, January 30, about the prospects of concluding stalled global trade liberalization talks this year, with many blaming the United States for foot-dragging. Ministers from about 20 major economies held informal talks on the sidelines …
Allianz annonced that, effective January 1, 2010, Manuel Bauer will be CEO of the new growth region – ‘Central and Eastern Europe, Middle East and North Africa’ (CEEMA). He succeeds Klaus Junker, former CEO of the New Europe region, who …
488% The jump in profits for the third quarter reported by Harleysville Group Inc. The insurer saw its third-quarter profits climb to $24.7 million, up from $4.2 million in the year-ago period. Revenue at the insurer rose to $244.3 million, …
The organization of state insurance commissioners welcomed 13 interns from Azerbaijan, China, Egypt, Saudi Arabia, Thailand and Zambia to the U.S. this week. The National Association of Insurance Commissioners (NAIC) has sponsored its International Internship Program for Education and Regulatory …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Egypt’s Misr Insurance Company, and has revised its outlook on both of the ratings from …
