Aon’s first quarter revenue fell 3 percent to $1.9 billion due to a 10 percent decline from foreign currency translation and a 44 percent decline in investment income, the company report. The decline in revenue was partially offset by a …
World governments and businesses announced new steps on Tuesday to try to slow the spread of a new strain of swine flu that has killed up to 149 people in Mexico and threatens to become a pandemic. The World Health …
Bermuda-based PartnerRe Ltd. posted net income of $141.5 million, or $2.32 per share on a fully diluted basis for the first quarter of 2009, compared to $129 million in the same period of 2008. “Net income includes net after-tax realized …
Pirates have stepped up their attacks on shipping in the Gulf of Aden and the Indian Ocean. In three days (April 6-8) the marine marauders, based in Somalia, seized four cargo ships and a French yacht (See IJ Web site …
U.S. warships stalked a drifting lifeboat where Somali pirates were holding their first American hostage on Friday, apparently hoping to win a promise of safe passage in exchange for the captive. Four pirates have been holding ship’s captain Richard Phillips, …
The Netherlands ING Group said on Thursday that it plans to divest operations worth up to €8 billion ($10.6 billion) to reduce risk and will focus its banking activities on Europe. ING, which was loss-making in 2008 and got a …
Where President George W. Bush was known for his “cowboy diplomacy,” his successor, President Barack Obama wants to be known as a listener and a builder of bridges. Taking his first major foreign trip since becoming president in January, Obama …
World leaders clinched a $1.1 trillion deal on Thursday to combat the worst economic crisis since the Great Depression and said financial rules would be tightened to stop it happening again. U.S. President Barack Obama declared it a “turning point” …
Edmund Tse, the top American International Group Inc. executive in Asia, is retiring, the troubled insurer said on Friday. Tse, who is in his early 70s, has worked at AIG since 1961, and was once considered a top candidate to …
Standard & Poor’s Ratings Services has lowered its counterparty credit ratings on Bermuda-based Everest Re Group Ltd. and its U.S.-based intermediary holding company, Everest Reinsurance Holdings Inc., to ‘BBB+’ from ‘A-‘. S&P also lowered its counterparty credit and financial strength …
