Standard & Poor’s Ratings Services has assigned its ‘A+’ long-term counterparty credit and insurer financial strength ratings to Sweden-based marine insurer Gard Marine & Energy Försäkring AB (Gard M&E AB) with a stable outlook. “The ratings reflect the company’s membership …
A.M. Best Co. has revised the outlook to positive from stable for the ratings of New Zealand’s Pacific International Insurance Limited (PII), and has affirmed PII’s financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-“. “The rating …
Standard & Poor’s Ratings Services has revised its outlook on Netherlands-based AEGON N.V. and its core subsidiaries to negative from stable. Concurrently S&P affirmed its ‘A+/A-1’ counterparty credit rating on AEGON N.V. and its ‘AA’ long-term counterparty credit and insurer …
Aon Corporation announced that it has formed a global partnership with Netherlands-based Unilever to serve the needs of its business lines worldwide. “The agreement enables Unilever to approach its buying through the services of Aon’s core strengths — risk management …
A cargo ship contracted by the U.S. military fired on an Iranian vessel in Gulf waters on Friday, raising tension between Washington and Tehran in a region vital to world oil shipments. In January, the United States said Iranian boats …
“Winter storms in Europe are like London buses,” says an article on the Lloyd’s web site (www.lloyds.com) – “You don’t see any for a while and then along come two or three, one behind the other.” The four month European …
Swiss Re’s latest sigma study on natural catastrophes and man-made disasters in 2007 concludes that they killed over 20,000 people and cost the insurance industry $70 billion, $28 billion related to property claims. 2007 wasn’t even “an exceptional year” in …
Marsh announced the establishment of a Financial and Professional Services (FINPRO) Practice in the Middle East, based in Dubai. It will be led by Alexander Blom, Regional FINPRO Leader. FINPRO is a specialist practice within Marsh providing insurance and risk …
Swiss Re’s latest sigma study – “Natural Catastrophes and man-made disasters in 2007” – examines catastrophe-related economic losses from natural and man-made disasters last year, which exceeded $70 billion. Swiss Re also noted that the disasters caused the deaths of …
AIR Worldwide’s preliminary estimates of onshore wind losses for Windstorm Emma are between €750 million and €1.3 billion ($1.15 and $2 billion), significantly higher than the insured loss estimates released by RMS (See IJ web site – https://www.insurancejournal.com/news/international/2008/03/05/87951.htm). Damages in …
