Cayman Islands-based Greenlight Capital Re announced the election of Bryan Murphy to the company’s Board of Directors. Murphy, 63, has over 40 years of experience in the insurance and reinsurance business and has held senior executive positions in companies located …
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 …
Aon’s Middle East unit announced the opening of its regional headquarters in the Dubai International Finance Center (DIFC), following the issuance of a full license to operate within the Center. Aon has operational offices in the UAE (Dubai, Sharjah, Abu …
Standard & Poor’s Ratings Services has affirmed its ‘A+’ junior subordinated long-term debt rating on the $2.0 billion undated, subordinated, fixed-rate callable bonds issued by Germany’s Allianz SE (rated ‘AA’-/Stable/A-1+). “We have characterized the bonds as having intermediate equity content,” …
Marsh announced that it has been approved by the Saudi Arabian Monetary Agency (SAMA) to provide full insurance broking and advisory services in Saudi Arabia under the provision of the Insurance Law of 2003. “The company will serve the insurance …
Aon has been awarded a license from the Saudi Arabian Monetary Authority (SAMA), in accordance with the provisions of the Kingdom’s Insurance Law 2004. The bulletin noted that “Aon has been serving clients in Saudi Arabia since 1979 and has …
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 …
Willis Group Holdings has become one of the first brokers to be officially licensed in Saudi Arabia by the Saudi Arabian Monetary Agency under the provisions of the Insurance Law of 2004. The global insurance broker will do business as …
The Bermuda-based Arch Capital Group Ltd. and Gulf Investment Corporation (GIC) announced that they have entered into a joint venture agreement to establish Gulf Re, a new specialist reinsurer to be based in the Dubai International Financial Centre. Arch Capital …
San Diego-based Barney & Barney LLC named Jim O’Connell principal. He also will serve as director of development for programs, specialty insurance solutions. In that role, he is responsible for both regional and nationwide expansion of new and existing programs. …
