Standard & Poor’s Ratings Services has raised its counterparty credit rating and insurer financial strength rating on Taiwan-based Mingtai Fire & Marine Insurance Co. Ltd. to ‘AA-‘ from ‘A’ and assigned a stable outlook. S&P said the “rating actions reflect …
A Chinese fund manager has won a lunch with famed U.S. investor Warren Buffett after bidding $2.11 million for the opportunity in a charity auction, more than three times what the lunch fetched last year. Zhao Danyang, who runs Hong …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of Hong Kong’s Tugu Insurance Company Limited with stable outlooks. Best said: The ratings reflect Tugu’s supportive level of risk-adjusted capitalization, diversified …
A new set of proposals to open services such as banking and telecoms to more global trade falls significantly short of what is needed to reach a world trade deal, an international coalition of service industry groups said Tuesday. “At …
The Bermuda-based Catlin Group Limited has announced the following reorganization in the leadership of its Asia-Pacific operations: — With effect from May 1, Mark Newman joined Catlin as CEO of the Asia-Pacific Region, based in the Singapore office. — Bobby …
Fitch Ratings has issued a bulletin from its Hong Kong/Singapore offices indicating that “based on preliminary estimates, the earthquake in China is not expected to have a material impact on the balance sheets of the Hong Kong-listed Chinese insurance companies.” …
Jardine Lloyd Thompson (JLT) has announced the appointment of Matthew Strong as Director, Capital Risks, Asia, which, JLT said reinforces its “long-standing commitment to the Asian market and underlines the increasing importance that businesses place on understanding and preparing for …
Catastrophe risk modeling firm AIR Worldwide has issued an estimate that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140 billion ($20 billion). AIR estimated that insured losses …
Willis Group Holdings Ltd, the world’s third-largest insurance broker, expects to maintain its annual revenue growth in the China market at at least 20 percent for the next five years and will increase its stake sharply in its local venture, …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of the Hong Kong-based China International Reinsurance Company Limited (CIRe) with a stable outlook. “The rating reflects CIRe’s profitable operating performance, …
