Somali pirates have released a chemical tanker, the Stolt Valor, after they received a $1.1 million ransom, a regional maritime official said on Sunday. Two other ships could be released before Nov. 25 because negotiations between the owners and pirates …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of South Korea’s Hyundai Marine & Fire Insurance Co., Ltd. (HMFI) with stable outlooks. Best said: “The ratings reflect the company’s …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed the debt ratings of “a+” on £300 million ($551 million) …
U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations over the White House’s unprecedented bailout …
The head of the Singapore unit of troubled insurance giant American International Group Inc. resigned Friday after 14 years with the company. Mark O’Dell, general manager of AIA Singapore, has left and Executive Vice President Kenneth Juneau will take over …
The American Institute for CPCU honored 757 new graduates of the Chartered Property Casualty Underwriter (CPCU program at the 2008 CPCU conferment ceremony in Philadelphia, Pa., the birthplace of the CPCU designation. The 2008 class brings the number of CPCU …
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 …
World governments must quickly start a $45 trillion “energy technology revolution” that could drive up the cost of producing carbon ten-fold, or risk emissions surging by 2050, the West’s energy watchdog warned on Friday. The world would need to build …
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 …
Chief executives of two major financial units at South Korea’s Samsung Group will step down, the group said on Tuesday, as part of reforms at the country’s biggest conglomerate. Hwang Tae-seon, who leads Samsung Fire & Marine and Bae Ho-won, …
