The ACE Group of Companies reported the appointment of new senior managers in South Africa and New Zealand. Scott Pickering, country manager and managing director of ACE New Zealand, has been appointed chief executive officer for ACE’s new South Africa …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Hong Kong-based China International Reinsurance Company Limited (CIRe) with a stable outlook. Best’s announcement concerned only CIRe, …
France’s AXA Group reported excellent results for the last quarter of 2005 and a full year increase in gross revenues of 6.9 percent. Overall sales rose from €67 billion ($33.72 billion) in 2004 to €71.7 billion ($87.56 billion). Asset Management …
Standard & Poor’s Ratings Services announced from its Hong Kong office that its ratings on Pacific Century Insurance Co. Ltd. – currently “BBB-” with a stable outlook – “are not affected by a recent restatement of the results of the …
For Peter B. Lewis, the Cleveland philanthropist and chairman of Progressive Insurance, even donating to one’s alma mater is about doing it better than the last guy. The 72-year-old Lewis, a 1955 graduate of Princeton University, has given the school …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and assigned an issuer credit rating of “a-” to Hong Kong-based Sun Hung Kai Properties Insurance Limited (SHKPI), with a stable outlook. “The ratings reflect …
A report from Dow Jones newswires in Hong Kong notes that Miao Jianmin, vice chairman and CEO of China Insurance International Holdings Co., the holding company for the Tai Ping insurance businesses in China, has resigned. The company’s board has …
Euler Hermes ACI, a provider of trade credit insurance and risk mitigation information, has released a special global risk analysis report from its U.S. headquarters in Maryland. The company, a subsidiary of French insurer AGF, which is in turn part …
Standard & Poor’s Ratings Services announced that it has raised its long-term insurer financial strength rating on Hong Kong’s Ming An Insurance Co. to “BB+” from “BB”, “reflecting an improvement in the company’s operating performance and financial profile.” The rating …
The last minute compromise agreement reached in the latest World Trade Organization negotiations in Hong Kong enabled the trade delegations of the various countries involved to put on a brave face. The industrialized world – mainly the U.S., Europe and …
