Three Toyota officials are under a criminal investigation on suspicion of professional negligence in allegedly shirking recalls for eight years and not fixing a defect that may have caused an accident, Japanese police said July 11. Toyota Motor Corp. denied …
The Bermuda-based Catlin Group Limited has established a new office in Hong Kong. “Catlin Hong Kong Limited will operate as a registered Lloyd’s of London coverholder, binding non-life business on behalf of the Catlin Syndicate (Syndicate 2003) at Lloyd’s,” said …
American International Group, Inc. announced that it has established AIG Global Marine and Energy, a new division of the AIG property and casualty insurance subsidiaries. “The unit will service the insurance, risk management and loss control needs of marine and …
Montpelier Re Holdings Ltd. has appointed international financier Wilbur L. Ross, Jr. as a member of its Board of Directors of the Company. “The appointment was effective upon the closing on June 28, 2006 of the additional 3,448,276 common shares …
A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and assigned an issuer credit rating of “a+” to Japan’s Nipponkoa Insurance Company Limited with a stable outlook. “The ratings reflect Nipponkoa’s solid market profile, growth in risk-adjusted …
A study co-authored by a University of Virginia professor suggests that seniors citizens will die in car accidents at a higher rate in the years ahead as America’s 75 million baby boomers age, grow more frail and continue to drive. …
Standard & Poor’s Ratings Services reacted quickly to the announcement that AXA and Credit Suisse have reached an agreement to sell Winterthur, the Swiss bank’s insurance division to the French insurer for CHF 12.3 billion (around $10 billion – €7.9 …
An earthquake measuring magnitude 6.2 struck the Southeastern peninsula of Japan’s main Island, Honshu, early Monday morning (local time). No deaths have been reported but at least five people suffered minor injuries. The quake’s epicenter was in was in Oita …
In a speech to the House of Lords, given as part of a discussion on “London as a World Financial Center,” Lord Peter Levene stressed the financial health and leading position of both London and the Lloyd’s market. He took …
New research suggests earthquake shaking can trigger aftershocks many miles from the epicenter, countering the popular view that they tend to cluster near the main shock. That might help scientists forecast where aftershocks will strike next. The new theory grew …
