Standard & Poor’s Ratings has assigned its long-term ‘A’ counterparty and insurer financial strength ratings to Kenya-based African Trade Insurance Agency (ATI)with a stable outlook. “The ratings on ATI reflect very strong capitalization, strong investments, and strong liquidity,” said S&P. …
The forlorn wrecks of cars and motorbikes dotting southern Sudan’s potholed dirt tracks and rare tarmacadam roads might signal chaos to some. But Zeru Woldemichael sees a business opportunity — in insurance. The Eritrean entrepreneur is hoping to snare a …
A “doomsday” seed vault built to protect millions of food crops from climate change, wars and natural disasters opened deep within an Arctic mountain in the remote Norwegian archipelago of Svalbard. “The Svalbard Global Seed Vault is our insurance policy,” …
A research study, commissioned by Lloyd’s and the Economist Intelligence Unit in 2007, found that “54 percent of business leaders felt that the risk to their company of political violence and terrorist activity would increase over the next five years.” …
Hundreds of new insurance initiatives, including green building credits, drought-protection in developing countries and incentives for investing in renewable energy and carbon emissions trading are being offered to tackle climate change and rising weather-related losses in the U.S. and globally, …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit ratings (ICR) of “a-” of Max Bermuda Ltd. and its affiliated companies. Best also affirmed the ICR of “bbb-” of Max Capital Group …
Swiss Re announced the launch of its “Climate Adaptation Development Program” (CADP) at the Clinton Global Initiative 2007 meeting, which took place in New York on Sept.26-28. The Program is “designed to develop a financial risk transfer market for the …
Swiss Re, in conjunction with the Earth Institute at Columbia University and the Millennium Promise Alliance, have developed a new system of weather derivative contracts, providing protecting to several villages in Kenya, Mali and Ethiopia against severe drought. They cover …
A Kenya Airways jet that took off during a midnight storm crashed early Saturday with 114 on board after sending out a distress signal over remote southern Cameroon, officials said. Nearby villagers reported hearing an explosion and seeing a flash …
The threat of the bird flu virus mutating into a strain capable of causing a pandemic intensifies amidst a growing number of outbreaks and human cases in different parts of the world. Since 2003, a total of 168 people have …
