A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the United Arab Emirates-based Gulf Reinsurance Limited with stable outlooks. “The ratings reflect the company’s excellent projected risk-adjusted capitalization, good projected …
Demand for disaster derivatives is surging as insurers seek alternatives to scarce reinsurance and expensive catastrophe bonds, with the forthcoming North Atlantic hurricane season likely to give a further boost. Prices are at record levels for Industry Loss Warranties (ILWs) …
Proposals to arm sailors on commercial shipping vessels to battle pirates could lead to an “arms race” on the high seas, a senior maritime official said on Monday. Some shipping companies want their crews to have arms or use mercenaries …
Hartford Financial Services Group Inc. said it plans to keep its U.S. property/casualty and life businesses, after winning approval last week to tap $3.4 billion of federal bailout funds. Chief Executive Ramani Ayer announced the decision in a memo to …
Dutch financial group ING made clear this week it was not in any particular rush to complete its planned €8 billion [$10.8 billion] of asset sales — but to hear analysts and bankers tell it, Chief Executive Jan Hommen may …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Japan’s Aioi Insurance Company, Limited, both with stable outlooks. “The ratings reflect Aioi’s stable underwriting performance, adequate capitalization …
American International Group has signed an agreement to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash (Yen115.5 billion) to Nippon Life Insurance Company. The property consists of approximately one acre of land on which …
American International Group, Inc. (AIG) today reported a net loss for the first quarter of 2009 of $4.35 billion compared to a net loss of $7.81 billion in the first quarter of 2008. The loss was less than the $5 …
Dr. Bob Hartwig, president of the Insurance Information Institute will share his thoughts on the state of the insurance industry and Adrian Lund, president of the Insurance Institute for Highway Safety, will explain the effectiveness of crash tests in promoting …
American International Group Inc is near a deal to sell its Japanese headquarters for about $1 billion in what would be one of its largest asset sales since a September rescue, a source familiar with the matter said Monday. A …
