There is no immediate prospect of Libya being removed from a list of areas deemed high risk by London’s marine insurance market. Underwriters will seek a stable period before looking at de-listing, a market official said on Monday. Libyan government …
A.M. Best Europe – Rating Services Limited has withdrawn the financial strength rating of ‘B’ (Fair) and the issuer credit rating of “bb” of Arab Union Reinsurance Company (AURe), which is based in Syria. Best explained that the “withdrawal is …
London-based Lloyd’s insurance and reinsurance broker United Insurance Brokers (UIB) has indicated that there may be some insurance exposure as a result of the unrest in Libya, and the decision by the UN to sanction a “no-fly zone” to protect …
London’s marine insurance market has added Libya to a list of areas deemed high risk as violence escalates in Africa’s third-largest oil producer, a senior market official said on Friday. Libyan rebels vowing “victory or death” advanced towards the major …
The Lloyd’s Market Association has issued the following statement concerning the wave of political protest and demonstration that have been unfolding in the Middle East and North Africa: “Clearly there has been considerable property damage as a result of the …
A Libyan Airbus jet crashed early on Wednesday as it tried to land at Tripoli airport, killing 103 people on board and leaving a Dutch boy the sole survivor, Libyan officials said. The Airbus A330-200, only in service since September, …
The White House is weighing sanctions targeting Iran’s dependence on gasoline imports and insurance firms that underwrite the trade, even as U.S. officials focus for now on diplomatic efforts to resolve a nuclear standoff. President Barack Obama warned Iran last …
2009 will see the political consequences of the global credit crunch start to have an impact, according to the 16th annual Political Risk Map, launched today by Aon Risk Services, a division of Aon Corporation. In a global webcast, Aon’s …
Developing countries are demanding that a key climate report being negotiated this week in the Thai capital recognize a troubling reality: they will be hit worse by a warming world and need plenty of help to deal with it. The …
Nearly 32 years after Vietnam’s communists chased U.S. forces from their soil, the southeast Asian nation joined the capitalist club as the World Trade Organization’s 150th member on Thursday, signaling its emergence as one of the world’s fastest-growing economies. “Welcome, …
