Insurance can provide unique and important benefits to a society, but those benefits cannot be realized unless markets are liberalized, said David Snyder, vice president and assistant general counsel for the American Insurance Association (AIA), Thursday at the World Trade …
MetLife, Inc. and Citigroup Inc. today announced an agreement for the sale of Citigroup’s Travelers Life & Annuity, and substantially all of Citigroup’s international insurance businesses, to MetLife for $11.5 billion, subject to closing adjustments. Combining Travelers Life & Annuity …
Although the world’s developed and developing nations still appear to be far apart on concluding new agreements on international trade, they’ve at least agreed to make a new attempt to do so. The so-called Doha round of trade talks hit …
Zurich Financial Services Group announced the appointment of Johnny Chen, 45, as CEO of its recently established Greater China business effective March 1, 2005. “In this newly created position, Johnny Chen will report to Martin South, CEO International Businesses Division, …
While the official death toll may never be known, the reaction to last month’s killer earthquake and tsunamis in Southeast Asia continues. Insurance Journal recently spoke with several individuals whose companies have seen the death and destruction up close. Crawford …
Risk Management Solutions (RMS) announced the launch of RiskLink and RiskBrowser 4.5, the latest versions of its catastrophe modeling systems. The upgraded systems include new underwriting capabilities, expanded accumulation management functionality, and the addition of new models for Belgium flood, …
For those in the life insurance industry who thought they could sit on the sidelines and watch New York Attorney General Eliot Spitzer go after some big property/casualty heavyweights, think again. According to reports on Friday, MetLife and other group …
Global insurance broker Willis Group Holdings announced the purchase of the business portfolio of Hong Kong-based insurance broker The Grande Insurance Broker Limited. Terms of the transaction were not disclosed. Willis said it has “assumed responsibility and control of the …
Standard & Poor’s Ratings Services announced that it has raised its public information (pi) financial strength and counterparty credit ratings on Royal & Sun Alliance Insurance (Hong Kong) Ltd. (RSA HK) to ‘BBBpi’ from ‘BBpi’. “The rating action reflects the …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Dao Heng Insurance Company Limited (DHI) (Hong Kong). The outlook is stable. The rating reflects DHI’s prudent capitalization, short-tail risk exposure and good quality business reflected by …
