India’s Tata Sons has been in talks to buy a stake in AIA, a major Asian unit of American International Group, sources close to the matter said. The U.S. insurance giant has been seeking to sell assets after nearly collapsing …
New York State Insurance Superintendent Eric Dinallo and Hector Sants, chief executive officer of the United Kingdom Financial Services Authority – the United Kingdom’s insurance regulator – have signed a memorandum of understanding that established a formal basis for consultation, …
Insurance regulators in New York and Bermuda have signed an agreement that calls for closer cooperation between the two agencies in overseeing insurance matters. New York State Insurance Superintendent Eric Dinallo and Matthew Elderfield, chief executive officer of the Bermuda …
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 …
Goldman Sachs and Morgan Stanley sought shelter with the Federal Reserve to survive a financial storm that destroyed their rivals as Wall Street braced for a week of political wrangling over a proposed $700 billion bailout for troubled banks. Morgan …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from ‘A+’. S&P also placed the ratings on CreditWatch with negative implications. …
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 …
Taiwan has issued a warning for ships traveling through its southern waters Tuesday as Typhoon Nuri approached the island. Nuri’s center was located about 466 miles (740 kilometers) southeast of Taiwan’s southern tip as of 11:30 a.m. local time (0330 …
New Seismic Models Make Ground Motion Predictions More Accurate The accuracy of ground motion prediction from shallow events in the active tectonic regions in the Western United States, such as California, has improved, thanks to new ground motion models. A …
Catastrophe risk modeling firm AIR Worldwide has issued a bulletin indicating that insured losses in Taiwan from Typhoon Fung-Wong are unlikely to exceed $100 Million. Dr. Peter Sousounis, senior research scientist at AIR Worldwide stated: “Fung-Wong first made landfall Sunday …
