Boston-based catastrophe modeling firm AIR Worldwide’s most recent statement, based on “currently available information, estimates that insured property losses from the Mw9.1 earthquake that struck Japan on Friday will range between 1.2 trillion JPY to 2.8 trillion JPY. Using today’s …
Shares in European insurers and reinsurers fell sharply in early trading on Friday after Japan was hit by a massive earthquake, one of the biggest ever recorded. The quake, which measured 8.9 on the Richter scale, hit off the northeastern …
The biggest earthquake on record to hit Japan rocked its northeast coast on Friday, triggering a 10-meter |33 foot] tsunami that killed hundreds of people and swept away everything in its path. Thousands of residents near a nuclear plant in …
UK-based international broker JLT Group announced that it has established JLT Holdings Japan “through an equity transfer arrangement.” JLT said the “new holding company structure, insurance agency operations will be conducted by JLT Risk Services Japan (formerly Jardine Lloyd Thompson …
Willis North America, a unit of Willis Group Holdings, announced Junji Hamada as the Japan Global Practice Group National Practice Leader, effective immediately. Willis North America’s Japan Global Practice Group serves Japanese-headquartered companies’ North American operations. He will be responsible …
American International Group, Inc. (AIG) reported it has closed the sale of its Japan-based life insurance subsidiaries, AIG Star Life Insurance Co. Ltd. and AIG Edison Life Insurance Co., to Prudential Financial Inc. for a total purchase price of $4.8 …
Yesterday Standard & Poor’s Ratings Services announced that it had lowered its sovereign rating on Japan to ‘AA-‘ from ‘AA’. The rating agency followed up that action by announcing that it has also lowered its financial strength ratings and long-term …
The ACE Group announced that Jeffery Hager has been appointed Regional President, ACE Far East, responsible for ACE’s property and casualty (P&C) and accident and health (A&H) insurance businesses in Japan. He will be based in Tokyo and will report …
Toyota Motor Corp said it would recall more than 1.7 million vehicles worldwide, bringing its total for recalls to nearly 16 million since late 2009 and dealing a blow to its efforts to restore its reputation for quality. Although the …
American International Group’s protracted sale of its Taiwan unit was further complicated Tuesday when a local company proposed buying a stake in the insurer, an offer that may please regulators but runs counter to AIG’s plans. AIG has been trying …
