The most powerful typhoon to hit China in five decades raged across its southeastern coast Thursday, claiming at least 83 lives as it capsized ships, destroyed buildings and forced 1.5 million people from their homes. Typhoon Saomai, with winds up …
Second quarter income for American International Group, Inc. (AIG) dropped 29 percent to $3.19 billion or $1.21 per diluted share, compared to $4.49 billion or $1.71 per diluted share in the second quarter of 2005. Second quarter 2006 adjusted net …
“Our result as at 30 June is a good basis for achieving our 2006 profit target, namely a return on equity of at least 15 percent,” stated Hannover Re’s CEO William Zeller, as he presented the German reinsurer’s interim earnings …
For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal regulation of the industry, which poses fundamental questions. …
For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal regulation of the industry, which poses fundamental questions. …
A.M. Best Co. has upgraded the financial strength rating to “A-” (Excellent) from “B++” (Very Good) and assigned an issuer credit rating (ICR) of “a-” to Japan’s Fuji Fire & Marine Insurance Company, Limited. Best also revised its outlook from …
Standard & Poor’s Ratings Services revised its outlook on China’s insurance sector to positive from developing to reflect expectations that the financial strength of the overall industry will improve over the medium term. In a new publication titled “China Insurance …
Japan’s financial watchdog said it has reprimanded Nippon Life Insurance Co. over improper cancellation of insurance policies, ordering Japan’s largest insurer to submit a business improvement plan. The Financial Services Agency said an employee at Nippon Life altered the expiration …
The change may make it easier, more attractive for non-U.S. based reinsurers to write more U.S. business In an abrupt departure from procedures that have been in place since World War II, the National Association of Insurance Commissioners took a …
In an abrupt departure from procedures that have been in place since World War II, the National Association of Insurance Commissioners took a first step at its recently concluded meeting in Washington, D.C., towards scrapping the “full collateral” requirements imposed …
