India News

Aon Study Confirms Growth in ‘Stand-alone’ Terrorism Coverage Market

Aon UK’s new report, “Stand-alone Terrorism Market Update,” concludes that a “combination of increased capacity, more predictable premium rates and innovative program design is creating steady growth in the take up of stand-alone terrorism insurance.” Companies also appear more interested …

Assurex Assesses Asian Market Opportunities, ‘Pitfalls’

Assurex Global Partners assembled “more than 100” members “from six continents” at its annual Spring Partners’ Conference, held recently in Hong Kong, where they “discussed the intricacies of doing business in this part of the world.” The bulletin notes that, …

FBI: Internet Crimes Range from Auction Fraud to Murder Threats

When it comes to crime, the Internet is like a Swiss Army knifeā€”a multi-purpose tool that’s easy to use and highly versatile. That’s made clear, says the FBI, by the 2006 annual report just issued by its Internet Crime Complaint …

International Labour Group Introduces Microinsurance Book

The International Labour Organization announced the availability of a new book, Protecting the poor: A microinsurance compendium, published with Munich Re Foundation for the CGAP Working Group on Microinsurance. Based on in-depth analysis of 40 microinsurance schemes around the world, …

Insurance exec: China offers lessons in globalization for U.S. and world

C.V. Starr’s Greenberg on China’s economic revolution and making the world safer through globalization I am not going to talk about regulation, not yet. I will soon but it will not be today — real soon. I cannot wait.” Thus …

Lloyd’s Chairman Revues Asia’s Growth Prospects in Singapore Speech

Lord Peter Levene, Chairman of Lloyd’s, reminded an appreciative audience in Singapore that “Asia is an exciting place to be right now. Its expertise and knowledge, combined with its vast population and low operating costs have led economists across the …

Insurance exec: China offers lessons in globalization for U.S. and world

I am not going to talk about regulation, not yet. I will soon but it will not be today — real soon. I cannot wait.” Thus Maurice “Hank” Greenberg — target of Eliot Spitzer, prosecutors, competitors and rumor mills — …

Best Affirms R&SA ‘A-‘ Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of the U.K.-based Royal & Sun Alliance Insurance Group plc and its rated subsidiaries. Best also affirmed the ratings …

Lloyd’s Launches Malaysian Subsidiary

Lloyd’s Chairman Lord Peter Levene made a trip to Malaysia’s capital Kuala Lumpur to help launch the London Market’s new subsidiary there, Lloyd’s Labuan Limited, and the upgrading of its reinsurance license. Lloyd’s bulletin explained that until now it “has …

Hub International Being Bought for $1.8 Billion; $40 per Share

Hub International Limited, which got its start in 1998 when 11 Canadian brokers merged and has since grown through acquisitions into one of the largest insurance brokers in North America, is being acquired by funds advised by Apax Partners together …