France’s AXA Group joined the growing parade of big insurance companies who had a banner year in 2006. The financial services and insurance giant posted gains in all of its principal activities. Life & Savings entities recorded strong growth with …
Marsh has appointed Rob Wendin to lead its Japan Client Services team in Europe, Middle East and Africa (EMEA). He will also continue to head Marsh’s Healthcare Practice in those regions. “In his expanded role, Mr. Wendin will head an …
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of Japan’s Mitsui Sumitomo Insurance Company Limited (MSI) with a stable outlook. “The ratings reflect MSI’s improved risk-adjusted capitalization, consistent operating …
Hawaii State Insurance Commissioner J.P. Schmidt will be among the U.S. officials working with the governments of China and Japan to improve regulation in the financial services industries. According to the Hawaii Department of Commerce and Consumer Affairs, Schmidt has …
The board of directors of American International Group, Inc. (AIG) has elected three new AIG senior vice presidents and four new AIG vice presidents. Hans K. Danielsson was elected senior vice president, Investments, and Daniel S. Glaser and Julio Portalatin …
Hannover Re has increased its underwriting capacity for catastrophe risks through a $106 million capital market securitization, which “boosted the volume of last year’s “K5″ risk securitization to $520 million,” said the announcement. “The transaction was placed with institutional investors …
France’s SCOR group noted that it has successfully sponsored a new catastrophe bond. The French reinsurer entered into a multi-year property catastrophe retrocession agreement with Atlas Reinsurance III p.l.c., a special purpose reinsurance company incorporated under the laws of Ireland …
The Hawaii Department of Commerce and Consumer Affairs Insurance Division has granted a captive license to MHC Insurance Co. Ltd., which participates in insuring the worldwide risks of its Japanese-related owners and affiliates. Hawaii Insurance Commissioner J.P. Schmidt noted that …
The Hawaii Department of Commerce and Consumer Affairs Insurance Division has granted a captive license to MHC Insurance Co. Ltd., which participates in insuring the worldwide risks of its Japanese-related owners and affiliates. Hawaii Insurance Commissioner J.P. Schmidt noted that …
Munich Re announced that it has transferred earthquake risks in California to the capital markets for subsidiaries of the Zurich Financial Services Group in cooperation with Aon Capital Markets, providing coverage through a $190 million catastrophe bond placement. Munich Re …
