This is the first in a series of articles on the Asia insurance marketplace. Part two in this series will focus on India and will appear in a September issue of Insurance Journal. “Let China Sleep, for when she wakes, …
Swiss Re announced that it has been granted a reinsurance branch license from Taiwan’s Ministry of Finance to open an office in the capital city, Taipei. It is the first international reinsurance company to receive one. Swiss Re opened a …
Typhoon Mindulle struck Taiwan over the weekend, bringing torrential rains that caused widespread flooding. I8 people were reported to have died, and another 9 are missing. According to a news report from the BBC, the floods were the worst to …
AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance, announced plans to expand both its European and Asian operations as part of its “international growth program.” It has appointed a number of senior executives to head the expansions. In …
Swiss Re today has been granted permission by the Taiwan Ministry of Finance to begin the licensing process for a branch office in Taiwan. The Swiss Re branch will be located in Taipei and is expected to be fully operational …
Aegon, the Netherlands’ insurer and financial services giant, reported fourth quarter net income rose 32 percent to 470 million euros ($573 million), while full year earnings rose 16 percent to 1.793 billion euros ($2.187 billion). In 2002 Aegon earned 355 …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to Taiwan’s Central Reinsurance Corporation with a stable outlook. “The rating reflects the company’s well-established local presence, liquid assets, consistently strong operating performance, as well …
Gary Schmalzriedt, Chairman and CEO of ACE Overseas General (AOG), announced that Tomas Urbanec has been named as Executive Vice President, International Personal Lines. AOG is a financial reporting unit of ACE Limited, which comprises the Company’s international property casualty …
Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has completed a review of catastrophe securitizations that were placed in 2003. Considering publicly available sources, the firm estimated that approximately $1.8 billion of …
American International Group, Inc.’s Board of Directors announced the election of former United States Secretary of Defense and former United States Senator William S. Cohen as a Director. Cohen, 63, is currently Chairman and CEO of The Cohen Group, a …
