September 18, 2008
On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which the Federal Reserve Bank of New …
September 17, 2008
Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s ambitious insurers are expected to be more cautious given market turmoil at …
September 9, 2008
Lloyd’s announced the appointment of Eric Gao, formerly Director & General Manager of Swiss Re’s Beijing branch, as its new CEO for Lloyd’s Reinsurance Company (China) Ltd. He “will focus on strengthening Lloyd’s existing relationships and developing new ones within …
September 1, 2008
The Modernization of Lloyd’s and the London Market Any institution — and there aren’t many — that survives and thrives for 320 years must find ways to adapt to changing conditions. Lloyd’s of London’s transformation offers some insights as to …
August 29, 2008
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited , QBE Insurance (International) Limited of Australia and QBE Reinsurance (Europe) Limited (QBE Re), which …
August 25, 2008
According to catastrophe risk modeling firm AIR Worldwide, Typhoon Nuri had weakened into a tropical storms when it came ashore over Hong Kong with maximum sustained winds of near 90 km/h (55 mph). AIR indicated Nuri had been expected to …
August 21, 2008
W.R. Berkley Corp. named William M. Rohde Jr. president of Acadia Insurance Co., succeeding Bill Thornton, who now is chairman of Berkley Regional Specialty Insurance Co. Walter E. Stradley remains president of Berkley Regional Specialty. Acadia is a commercial property …
August 11, 2008
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Hong Kong-based HSBC Insurance (Asia) Limited with a stable outlook. “The ratings reflect HSBC Insurance’s sound underwriting earnings, leading market presence …
July 29, 2008
Progress towards a global trade deal ground to a halt on Monday as the United States clashed with China and India over access to their rapidly growing markets and key European Union states demanded better terms. Negotiators battled over a …
July 28, 2008
Australian investigators were focusing on the possibility that an oxygen cylinder could have exploded in mid-flight on the Qantas jumbo jet that made an emergency landing in the Philippines with a giant hole in its fuselage, officials said Sunday. Australia’s …