Munich Re announced that it has agreed to guarantee the performance of solar modules in France for the first time. The reinsurer will be working with industrial insurance broker Filhet-Allard and solar manufacturer Solairedirect, who have “jointly launched a new …
Ireland to become 1st U.S. State The Irish are fed up with European Union demands that they raise their corporate tax rate – currently 12.5 percent – if they want some help in repaying the enormous loans the government has …
Australia’s flood-stricken coal industry may be disrupted for months after key rail and road links were washed away, while some infrastructure could take years to repair, authorities said on Friday. The floods have swamped mines in Queensland State, paralyzing operations …
Swiss Re Capital Markets has successfully structured and placed €75 million [app. $97 million] of notes issued by Green Fields Capital Limited covering French windstorm events. “Green Fields is a newly established Irish special purpose company incorporated with limited liability,” …
Australia’s record floods are causing catastrophic damage to infrastructure in the state of Queensland and have forced 75 percent of its coal mines, which fuel Asia’s steel mills, to grind to a halt, Queensland’s premier said on Wednesday. The worst …
Military flights rushed Monday to restock an Australian city before it is cut off by floodwaters that have turned a huge swath of the Outback into a lake, while police confirmed two more deaths in the crisis. Drenching rain that …
Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come, according to two industry reports. For the second year in a row, global reinsurance property catastrophe …
Natural and man-made catastrophes topped the list of the most significant events in 2010, with three major earthquakes, a near record number of hurricanes, some serious typhoons and windstorms, a volcanic eruption and a calamitous oil spill that blighted the …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Allianz Global Corporate & Specialty AG (AGCS AG). Best also affirmed the FSR of …
The French-based AXA Group has appointed Jérôme Droesch as CEO for the Gulf region. He was previously Regional CEO for the South-West region of AXA France, and replaces Jean-Louis Laurent Josi, who has been named CEO of AXA Japan. Droesch, …
