Newark, Calif.-based RMS, a provider of products and services for the management of catastrophe risk, has expanded its commitment to the Lloyd’s market with the addition of three Lloyd’s managing agents as new RMS clients in the last three months: …
An earthquake measuring in excess of 8 on the Richter scale struck the Northern Japanese Island of Hokkaido early this morning, local time, causing property damage and injuring more than 230 people. The tremor and two smaller aftershocks were centered …
A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of Unum Japan Accident Insurance Co. Ltd., removed the company from under review, and revised its outlook to stable from negative. …
Standard & Poor’s has published a report on the Asia-Pacific non-life reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to under priced excess capacity.” “Over the past two years, …
Standard & Poor’s Ratings Services has published a report on the Asia-Pacific nonlife reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to underpriced excess capacity.” “Over the past two …
American International Group, Inc. announced that “the acquisition of the GE Edison Life Insurance Company in Japan and GE’s U.S.-based auto and home insurance business has been completed, effective today.” The bulletin indicated that the “Japanese life insurance company will …
Oakland- based EQECAT Inc., a division of ABSG Consulting of Houston, Texas, announced that it has provided the risk analysis for a $470 million bond consisting of three individual tranches covering potential losses from second event occurrences of major earthquakes …
A.M. Best Co. announced that it has affirmed the financial strength rating of A+ (Superior) of Japan’s Toa Reinsurance Company Limited, with a negative outlook. “The negative outlook reflects Toa Re’s weakened capitalization, high exposure to Japan’s equity market and …
There is reportedly relief in sight for commercial insurance buyers numb from years of hefty premium increases and stiff underwriting conditions. The commercial middle market will enjoy lower rate increases and some flat pricing over the next six months, according …
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Sompo Japan Insurance Inc., Japan. The outlook is negative. The rating reflects Sompo Japan’s deteriorated risk-adjusted capitalization, vulnerability to the weak financial market, high domestic catastrophe exposure …
