Portugal News

G20 Leaders Views on Economy, Budget Deficits, Bank Regulation, Yuan

World leaders agreed Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries. The following are highlights from quotes by leaders and other …

Beazley’s Broker Relations Head Lauds Value of Broker Networks

Christopher Branch, Head of Broker Relations at Beazley, speaking at the second day of BrokersLink’s second annual global conference in Portugal on Friday, urged underwriters to increase the utilization of the specialist skills and local knowledge provided by broker networks …

BrokersLink Appoints Chartis Senior V.P. Battifarano as CEO

BrokersLink, one of the world’s largest independent insurance broker networks whose members manage premium volumes in excess of $7 billion, announced the appointment of Leonard J. Battifarano as its CEO, effective July first. The announcement was made at BrokersLink’s second …

BrokersLink Network Expands Number of Specialized Service Providers

BrokersLink, one of the world’s largest independent insurance broker networks whose members manage premium volumes in excess of $7 billion, has added six new international specialized service providers. “The new additions bring the total membership to 64 companies operating from …

EU Faces a Battle in Achieving Closer Economic Union

Agreeing on a $1 trillion safety net may prove the easy part of saving the euro now the European Union’s leaders are turning to the divisive issue of tightening economic policy coordination. The European Commission wants to reinforce economic surveillance …

Ratings Recap: Ageas (ex-Fortis), Island Heritage, New Century

Standard & Poor’s Ratings Services has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on AG Insurance and the operating entities of Millenniumbcp-Fortis Grupo Segurador S.G.P.S. S.A.; its ‘BBB-/A-3’ issuer credit rating on holding companies Ageas N.V. …

Bermuda Signs Tax Accord with Italy

Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda has concluded negotiations for a bilateral agreement with the Italian Republic that will, “upon signing later this year, provide for a full exchange of information on criminal and …

Tardy Greek Debt Bailout Spreads Financial Crisis beyond Europe

Last weekend the leaders of the European Union finally realized that their dithering over a financial aid package for Greece had imperiled the entire continent’s financial structure. They acted to stem the tide by adopting – subject as usual to …

Bermuda Signs Tax Accord with Portugal

Bermuda announced that it has signed a bilateral agreement with the Portuguese Republic that “provides for a full exchange of information on criminal and civil tax matters between Bermuda and the Portuguese Republic. “The signing of the Tax Information Exchange …

Europe’s Travel Firms Count Costs of Volcanic Ash Disruptions

Europe’s travel industry is counting the cost of air traffic disruption caused by a volcanic ash cloud which forced thousands of flights to be cancelled and is braced for more stoppages this month. British travel company TUI Travel and low-cost …