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 …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Taiwan’s South China Insurance Co., Ltd. with a stable outlook. “The ratings reflect South China’s profitable operating results, conservative investment …
Marsh announced from its London office that David Batchelor will succeed Alex Moczarski as CEO of Marsh’s operations in Europe, the Middle East and Africa (EMEA). He currently heads the Asia Pacific region for Marsh, responsible for operations in China, …
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ insurer financial strength and counterparty credit ratings on Taiwan’s Central Reinsurance Corp. with a stable outlook. “The ratings continue to reflect Central Re’s strong position in the Taiwan market, good operating …
More than a dozen South Carolina clam farmers who claimed most of their crop was spoiled by an oil spill five years ago have settled a lawsuit with a shipping line and a dredging firm for nearly $1.8 million. Under …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit ratings (ICR) of “a-” of Max Bermuda Ltd. and its affiliated companies. Best also affirmed the ICR of “bbb-” of Max Capital Group …
Two wholly owned units of Cathay Financial Holding Co. have obtained approval from Chinese regulators to enter the property insurance market on the mainland, the Taiwanese company has said. Cathay Life Insurance Co. and Cathay Century Insurance Co. have received …
AIR Worldwide’s preliminary estimates of insured losses caused by Typhoon Krosa originally assessed the damage in Taiwan (See IJ web site Oct. 11). However, the storm subsequently crossed the South China Sea, and has caused significant damage in the Republic …
AIR Worldwide Corporation has estimated that insured losses in Taiwan from both wind and precipitation-induced flooding from Typhoon Krosa are “unlikely to exceed $200 million.” The estimate covers insured losses to property and contents for onshore properties. “Taiwan continues to …
Toys and children’s necklaces made in China were recalled Wednesday, including five more items from the popular Thomas & Friends Wooden Railway product line, because they contain dangerous levels of lead. RC2 Corp.’s “Knights of the Sword” series toys and …
