The American Insurance Association (AIA) has urged the U.S. and Indian governments to make market liberalization in India a major trade priority. “Considering India’s size and potential as one of the world’s largest insurance markets, we call on the U.S. …
Zurich Global Energy announced the appointment of Chris Barber as Global Energy onshore property manager for Asia. The appointment follows the creation of the Greater China unit under CEO Johnny Chen at the start of 2005 and is in line …
The 22nd Pacific Insurance Conference will be held at the Grand Hotel, Taipei, Taiwan on October 23 – 26, 2005. The 2005 conference features industry leaders making presentations, moderating panel discussions, and directing roundtable workshops examining “Pathways to Success in …
Leading U.S. life and property/casualty insurance and reinsurance companies and the four largest life insurance companies in Japan have jointly advanced a draft of basic insurance accounting principles that recognize the unique features of insurance contracts for consideration by the …
ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, today announced that Steven J. Reiss has been named senior vice president and regional executive for the Mid-Atlantic region. Based in Philadelphia, Reiss will be responsible for …
Days after the U.S. Treasury issued its report downplaying the need for renewal of a federal terrorism risk reinsurance program, an organization of 30 democratic countries including the U.S. has warned of shortfalls in terrorism coverage around the world. Nearly …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Japan’s Mitsui Sumitomo Insurance Company Limited with a stable outlook. “The rating reflects Mitsui Sumitomo’s superior capitalization, strong business profile supported by steady growth …
A.M. Best Co. has affirmed the financial strength rating of B++ (Very Good) of The Fuji Fire & Marine Insurance Company Limited (Fuji Fire) (Japan). The rating outlook has been revised to positive from stable. The rating reflects Fuji Fire’s …
Fitch Ratings announced that it has affirmed and removed from Rating Watch Negative the ‘AA’ insurer financial strength (IFS) rating of most of ING Verzekeringen N.V.’s (INV) U.S.-based insurance operating subsidiaries (ING-US). Fitch also affirmed its long-term ratings on INV …
As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults. Although insurers are wary …
