A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of South Korea’s Hyundai Marine & Fire Insurance Company Ltd. with a stable outlook. “The ratings reflect the company’s …
Dongbu Insurance Co. Inc., South Korea’s second-largest insurer, marked its entry into the U.S. market with a reception in Waikiki. Dongbu, a member of the Dongbu Group conglomerate, is the first foreign company to take advantage of Hawaii’s port of …
Amsterdam-based Financial services company ING Groep NV reported a 30 percent rise in its second quarter profit, with the bulk of the gain coming from its insurance division. Net profit was 2.01 billion euros ($2.58 billion), up from 1.55 billion …
The Bermuda-based Catlin Group Limited has established a new office in Hong Kong. “Catlin Hong Kong Limited will operate as a registered Lloyd’s of London coverholder, binding non-life business on behalf of the Catlin Syndicate (Syndicate 2003) at Lloyd’s,” said …
Despite slightly higher claims costs of €274 million ($350 million) Munich Re’s first quarter net profits rose 41.7 percent to €979 million ($1.25 billion) after tax. Operating profits were up by 29.4 percent to €1.47 billion ($1.88 billion). The earnings …
Swiss-based Converium recorded successful renewals of its of non-life treaties as of April 1. The Company said it “bound non-life contracts of US$ 272.2 million or 99.5 percent of the business that was up for renewal. This result is fully …
Liberty International Underwriters, a division of Liberty Mutual Group, has opened a North Asia Regional Office in Quarry Bay, Hong Kong. “The explosive growth of specialty insurance in Asia is underscored by Lloyd’s assessment of the market,” said the bulletin. …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and assigned an issuer credit rating of “bbb+” to South Korea’s MERITZ Fire & Marine Insurance Company, Ltd. with a stable outlook. “The ratings …
A report on the Allianz Web site (www.allianz.com) notes that the customers of the Group’s Indonesian affiliate can now “buy life and non-life Sharia insurance in a one-stop shopping experience. In the initial launch period, PT Asuransi Allianz Life is …
Euler Hermes ACI, a provider of trade credit insurance and risk mitigation information, has released a special global risk analysis report from its U.S. headquarters in Maryland. The company, a subsidiary of French insurer AGF, which is in turn part …
