A.M. Best Co. announced that it has recently integrated its Asia/Pacific insurance rating and information operations to serve Japan, Australia and New Zealand under A.M. Best Asia-Pacific Ltd. in Hong Kong. “Companies in Japan, Australia and New Zealand will now …
A.M. Best Co. made several ratings announcements yesterday. It confirmed the A (Excellent) financial strength ratings of ING Comercial America (ING-CA) and its wholly owned subsidiary, ING Comercial America Fianzas, and the B+ (Very Good) rating of Tugu Insurance Co. …
AIR Worldwide Corporation (AIR), one of the leading providers in catastrophe modeling and weather risk management, announced the release of new typhoon and earthquake models for the Asia-Pacific region. “The new typhoon models include Taiwan, Hong Kong and the Philippines. …
Willis Group Holdings Limited, the world’s third largest global insurance broker, announced third quarter operating revenues before taxes and interest of $64 million, compared to a $72 million loss in the same period last year. Net profits for the period …
David Farmer, senior vice president of federal affairs for the Alliance of American Insurers, issued the following letter to the editor published in the Oct. 27 edition of the Washington (DC) Times newspaper. In it, he refutes the paper’s editorial …
Local authorities in the town of Kuta on the Indonesian island of Bali have confirmed that at least 190 people died, and more than 300 were injured, when an enormous explosion completely destroyed the Sari Club, a local discotheque, and …
The dispute between Canada and Indonesia over the decision of a local court to declare the Indonesian subsidiary of Canada’s Manulife bankrupt, entered a new round when the receiver published a full page ad in a Jakarta newspaper stating that …
The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account for 2 percent of global Gross Domestic Product. Based on 1996 figures, …
The Indonesian National Shipowners Ass’n. announced that foreign vessels sailing in the country’s waters will now be required to insure their cargoes against piracy. The move comes in response to the sharp increase in incidents of piracy in and around …
Singapore Aviation and General Insurance Company has filed two lawsuits, one in New York, and the other in Los Angeles, seeking some $55 million in damages from Boeing and several aircraft component manufacturers related to the crash of a SilkAir …
