Panama will withdraw its flag from more vessels that violate sanctions and international legislation, the country’s maritime authority told Reuters, following the removal of about 60 ships linked to Iran and Syria from the Panamanian registry in recent months. After …
Generali has entered into an agreement to sell its Panama business to ASSA Compañía de Seguros S.A., for US$172 million, continuing its strategy to focus on core businesses. Under the transaction, which is subject to regulatory approval, Trieste-based Generali has …
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 …
A new report from A.M. Best notes that Panama’s insurance market is the largest in Central America, and is expected to continue to produce significant premium growth in the next few years. Best noted that the “expansion of the Panama …
Crawford & Company announced that it has established an office in Panama City, Panama, and named insurance executive Miguel Stempel as its manager of operations in the country, in order to “serve a growing insurance market.” Stempel will be responsible …
Somali pirates have released the Marida Marguerite, a German-operated chemical tanker after receiving a $5.5 million ransom, the Kenya-based East African Seafarers Assistance Program said on Tuesday. The tanker was seized in May and released on Monday. Here are details …
BrokersLink, an independent insurance broker alliance, has appointed Paul Bitner as Latin America chief operating officer as it seeks to expand its presence in the region. Bitner joins BrokersLink from Aon where he was a managing director with responsibilities in …
Traffic in the Panama Canal, a major shipping waterway that connects the Atlantic and Pacific oceans, has been suspended temporarily due to heavy rains, the canal authority said Wednesday. “We are taking steps to normalize traffic operations in the coming …
A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $350 million 6.25 percent senior unsecured notes due 2020 of Delaware-based Alterra Finance LLC. The senior notes are fully and unconditionally guaranteed by Alterra Capital Holdings …
Stephen A. Korducki, a senior insurance and reinsurance executive, has been elected president and CEO of Sunshine State Insurance Co. Inc. (SSIC), a homeowners insurance writer in Florida. Korducki succeeds John E. Rogan who is retiring after leading the company …
