Malaysia to liberalize banking, insurance under five-year plan Received by Newsfinder from AP Mar 31, 2006 5:40 Eastern Time Malaysia will open its banking and insurance sectors to greater competition, including allowing foreign players to own stakes in local companies, …
Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales declined by 3.7 percent during the period to …
Rescue workers are continuing their efforts to find survivors of the landslide that buried the village of Guinsaugon, in the town of St. Bernard on the Philippine Island of Leyte last Friday, Feb. 17. 10 days of torrential rains have …
A report on the Allianz Web site (www.allianz.com) notes that the customers of the Group’s Indonesian affiliate can now “buy life and non-life Sharia insurance in a one-stop shopping experience. In the initial launch period, PT Asuransi Allianz Life is …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and upgraded the issuer credit rating to “bbb+” from “bbb” of Malaysia’s Labuan Reinsurance Ltd., and has revised its outlook on both ratings to …
Munich Re has released the results of a “loss inspection” conducted on the West Coast of Thailand to assess the consequences of the devastating tsunami, which struck the area one year ago. Experts from the reinsurer’s Geo Risks Research team …
Extreme Weather Hits Europe: Devastating wild fires in Portugal; torrential rains in Switzerland, Austria, Germany and Romania; drought in much of France. There seems to be no end to the list of extreme weather conditions that have hit Europe in …
Extreme Weather Hits Europe: Devastating wild fires in Portugal; torrential rains in Switzerland, Austria, Germany and Romania; drought in much of France. There seems to be no end to the list of extreme weather conditions that have hit Europe in …
France’s SCOR Group announced that it has obtained permission from the Indian regulatory authority (IRDA) to open a representative office in India, “with a view to strengthening and developing its activities in the Non-Life reinsurance field.” SCOR believes there is …
The London insurance market’s Joint War Committee (JWC) has rejected the shipping industry’s complaints about its designation of the Straits of Malacca as a “war risk” area (See IJ Website Aug. 15). At a meeting on Tuesday, Aug. 16, The …
