SCOR Group Chairman Denis Kessler announced in Beijing that the Group has submitted an application to the China Insurance Regulatory Commission (CIRC) for a reinsurance license to reinforce and develop its non-life reinsurance business activities in China. The SCOR Group …
Swiss Re today has been granted permission by the Taiwan Ministry of Finance to begin the licensing process for a branch office in Taiwan. The Swiss Re branch will be located in Taipei and is expected to be fully operational …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Luxembourg-based West of England Ship Owners Mutual Insurance Association (the Club or WOE), with a stable outlook. “The rating reflects the Club’s excellent capitalisation, …
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Sun Hung Kai Properties Insurance Limited (SHKPI) (Hong Kong). The outlook is stable. The rating reflects SHKPI’s satisfactory capitalization, strong liquidity, prudent reserving and continuous improvement in …
The California-based PMI Group, Inc. announced that it has promoted Michael Edwards to Field Vice President, PMI Europe, where he will assume the role of Head of Risk & Operations. He joined PMI in 1990, and has managed the company’s …
Gary Schmalzriedt, Chairman and CEO of ACE Overseas General (AOG), announced that Tomas Urbanec has been named as Executive Vice President, International Personal Lines. AOG is a financial reporting unit of ACE Limited, which comprises the Company’s international property casualty …
Liberty Mutual Group announced that it has concluded the acquisition process by its Spanish subsidiary, Liberty Insurance, of MetLife’s Spanish operations, including its non-life subsidiary, Genesis Seguros Generales, S.A., and its life subsidiary, Seguros Genesis, S.A. The companies offer auto …
The Ping An Insurance, one of China’s largest insurers, announced plans to raise approximately U.S. $2 billion in an initial public offering on the Hong Kong stock exchange. Ping An, a financial holding company which includes insurance, banking, securities and …
Swiss Re CEO John Coomber has officially opened the company’s China branch office in Beijing. The company will offer reinsurance services in both Life & Health and P/C to China’s rapidly growing insurance market. The new branch will be managed …
American International Group, Inc. announced the appointment of Kevin Hogan as the senior AIG executive responsible for the recently established cooperative business relationship with PICC Property and Casualty Company Limited, China’s largest P/C insurer, in which AIG recently acquired a …
