France’s AXA abruptly announced that it was terminating its insurance coverage of the 2002 Soccer World Cup, scheduled to be held in Japan and Korea next May and June, following the terrorist attacks of September 11 in the U.S. The …
The events of Sept. 11 shook the foundations of the entire American financial community, and American International Group was no exception. Ironically, AIG had already had a very busy month. In Korea, it looked set to conclude its takeover of …
By Charles E. Boyle The events of Sept. 11 shook the foundations of the American financial community, and industry giant American International Group is one of many shaken by the tragedies. AIG has issued a preliminary estimate of its total …
Munich Re followed its announcement that its net profit for the 1st half of the year almost doubled to $1.18 billion with the announcement that it had structured an innovative event cancellation policy for the 2002 Soccer World Cup in …
The latest “sigma” report from Swiss Re, “Insurance markets in Asia: sanguine outlook despite short-term uncertainties,” outlines current and future trends in Asia’s $600 billion insurance market. It notes that life insurance prospects are particularly good in the region. The …
In two moves aimed at strengthening its international presence, Atlanta-based Crawford & Co. announced that it would join the TropicalStormRisk (TM) Consortium, and has agreed to acquire Australia’s Central Victoria Loss Adjusters (CVLA) for an undisclosed price. Crawford is one …
Risk Management Solutions announced that its Climetrix (TM) weather derivatives trading and risk management system now includes relevant temperature data from Germany and Japan, two expanding markets for weather derivative traders and end users of its forecasts. RMS, in parntership …
The MassMutual Financial Group announced that it had completed the purchase of Japan’s Aetna Heiwa Life Insurance Co. Inc. from Aetna International Inc., a division of Holland’s ING Group, which acquired it from Aetna last December. MassMutual will own approximately …
Aquila, Inc., the Kansas City-based energy and risk management company, announced that it has entered into a partnership agreement with Australia’s Macquarie Bank to begin marketing weather derivative products there and in New Zealand. The company, a division of UtiliCorp …
Progressive Insurance and Nextel, a provider of fully integrated, all-digital wireless service, announced the availability of progressive.com on the Nextel Wireless Web. The agreement gives Progressive’s 30,000-plus authorized, independent agents exposure to Nextel’s Wireless Web customers via their Nextel Internet-ready …
