JLT Re, the London-based reinsurance broker and consultant, has appointed Jong Kuk (“JK”) Moon as CEO of JLT Re Korea. Moon will be based in JLT Re’s Seoul office and will report to Kenny Moyes, CEO, JLT Re Asia. “JK …
Despite ludicrous claims to the contrary, Western sanctions have hurt Iran’s crude oil exports, but it’s also not all gloom and doom. In unsurprising, but obviously factually incorrect, remarks, the director of international affairs at the National Iranian Oil Co. …
Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the protection and indemnity (P&I) clubs based in the EU, which dominate the marine insurance industry. …
Dutch banking and insurance group ING now expects a quick sale of parts of its $7 billion Asian insurance business as it seeks to repay state aid and meet European requirements for its 2008 state bail-out, its chief executive said …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of UK-based Samsung Fire & Marine Insurance Company of Europe Limited (SFME), both with stable outlooks. Best noted: …
The long-awaited implementation of the Free Trade Pact between the Republic of Korea, or South Korea, and the U.S. (KORUS) is scheduled to go into effect on March 15. The date will see the conclusion of negotiations that began in …
Manufacturers of car parts and computer hard drives are the worst hit in Thailand, and face a bleak key holiday selling season due to massive floods, which have shut down production. Japanese car makers that had just started to recover …
Congress Wednesday approved long-delayed trade pacts with South Korea, Colombia and Panama that are expected to lift exports by about $13 billion a year and give U.S. employment a boost. Republicans and Democrats joined together in the House of Representatives …
LG Electronics filed a suit in South Korea, seeking a ban on the sale of BMW and Audi cars, expanding its legal battle over lighting-product patents with Siemens unit Osram to automakers. The sales injunction request filed on Wednesday by …
Assurex Global, the worldwide broker network, announced that it has added two new firms to the network: Continental Insurance Brokers Limited (CIB), with headquarters in Beijing, China, and Daewoo INS Korea Corp. in Seoul, South Korea. “We continue to expand …
