The current global risk environment is a time to “analyze operations and take the tough decisions necessary to ensure survival in any downturn,” Julian James, a senior executive with global insurance broker Lockton, told an international audience of insurance industry …
Standard & Poor’s Ratings Services has raised its counterparty credit rating and insurer financial strength rating on Taiwan-based Mingtai Fire & Marine Insurance Co. Ltd. to ‘AA-‘ from ‘A’ and assigned a stable outlook. S&P said the “rating actions reflect …
Standard & Poor’s Ratings Services said that its ratings and outlook on Spain’s Mapfre S.A. (A+/Stable/–; core operating entities Mapfre Empresas, Compania de Seguros y Reaseguros, S.A. and Mapfre Re Compañía de Reaseguros, S.A. are rated AA/Stable/–) and on Massachusetts-based …
Governments in emerging markets are increasingly looking at the potential to tap capital markets to help fund the cost of recovery when costly natural catastrophes strike, experts say. Some nations have already issued debt instruments — referred to as catastrophe, …
A new set of proposals to open services such as banking and telecoms to more global trade falls significantly short of what is needed to reach a world trade deal, an international coalition of service industry groups said Tuesday. “At …
ACE Limited announced that its subsidiary, ACE INA Holdings Inc., has agreed to sell $450 million of 5.60 percent Senior Notes due May 2015. The notes will be guaranteed by ACE Limited. Ace said it would use the net proceeds …
As the magnitude of the earthquake that struck China’s Sichuan Province on Monday, and the extent of the damage it caused, becomes more apparent, the loss estimates from the quake have escalated rapidly. Risk Management Solutions most recent analysis now …
Catastrophe risk modeling firm AIR Worldwide has issued an estimate that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140 billion ($20 billion). AIR estimated that insured losses …
Montana State Auditor John Morrison will represent U.S. insurance regulators in the U.S.-China Insurance Dialogues in Hangzhou, China, this week. The dialogues, part of trade negotiations between the two countries, are being held May 15-16. Morrison will be joined by …
Willis Group Holdings Ltd, the world’s third-largest insurance broker, expects to maintain its annual revenue growth in the China market at at least 20 percent for the next five years and will increase its stake sharply in its local venture, …
