“You are the current and future business leaders of the state of California,” California Insurance Commissioner Steve Poizner told an audience at California State University in Fullerton on Oct. 17, 2008. In his second visit to the University, Poizner expressed …
Zurich Financial Services Group has announced the completion of the acquisition of a remaining 34 percent minority stake in Russia’s OOO NASTA Insurance Company, which was renamed Zurich Retail Insurance Ltd. at the end of 2007. Zurich said the purchase …
A bulletin from the International Chamber of Commerce (ICC) and the Ifo Institute for Economic Research, has determined that the “world economic climate index has dropped for the fifth consecutive quarter in a row, hitting its lowest level since 1998.” …
Somali pirates have captured a fully laden Saudi supertanker far off east Africa, seizing the biggest vessel ever hijacked with a cargo of oil worth over $100 million in an attack that pushed world crude prices higher. The U.S. Fifth …
The ACE European Group has appointed Nikolay Dmitriev as Country Manager for its Russian operation, ACE Insurance Company CJSC. He replaces Andreas Wania who moved to the role of Regional Manager Central Eastern Europe, CIS and Russia in July this …
U.S. lawmakers rejected a $700 billion bailout plan for the financial industry in a shock vote that sent global markets sliding as the world credit crisis claimed more banks. By a vote of 228-to-205 the House rejected a compromise plan …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “a” of the non-operating holding company, the UK-based AVIVA plc, and the financial strength rating (FSR) of ‘A+’ (Superior) and ICRs of “aa-” of its rated subsidiaries. Best also …
According to a recently released report from Marsh, “insurance rates across most lines of business in the Europe, Middle East and Africa (EMEA) region continued to soften in the first half of 2008.” However, “the report also identified trends being …
In a new report the Conference Board, a non-profit, business research organization, has concluded “restrictions on greenhouse gas emissions (GHG) are not feasible without significant productivity growth and a transfer of technologies from advanced to emerging economies.” The analysis appears …
Standard & Poor’s Ratings Services has assigned its ‘BB-‘ long-term counterparty credit and insurer financial strength ratings and its ‘ruAA-‘ Russian national scale rating to Russian reinsurer Unity Re with a stable outlook. “The ratings are based on the company’s …
