“2011 will be another challenging year,” said Roger Sellek, the CEO of A.M. Best Europe – Rating Services Limited, at the rating agency’s annual review of the state of Europe’s insurance industry. Speaking to an attentive audience at the Grange …
Zurich Financial Services Group announced that its subsidiary Zurich Insurance Company Ltd, has signed an agreement to acquire 99.98 percent of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates (UAE), Kuwait …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Tunisia’s BEST RE, both with stable outlooks.The ratings of BEST RE reflect its “significant importance to its …
Checks on a Japanese oil tanker, damaged by a mystery explosion near the Strait of Hormuz oil shipping route, found a soot-like substance in a large dent in its hull, the Transport Ministry in Tokyo said on Wednesday. (See IJ …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the UK-based Sunderland Marine Mutual Insurance Company Limited (SMMI), both with stable outlooks. Best said it anticipates an improvement in SMMI’s …
A suspected militant strike on a Japanese-owned tanker illustrates how vulnerable merchant ships are to attack on the high seas with navies stretched fighting Somali piracy, analysts and shipping sources said on Friday. There have been growing concerns for maritime …
A militant group linked to al Qaeda said on Wednesday that a suicide bomber was responsible for a mysterious explosion on a Japanese-owned oil tanker a week ago near the Strait of Hormuz. But analysts are sceptical about the belated …
The confusion around what the owners initially called a possible “attack” on a Japanese tanker in the volatile Straits of Hormuz shows the difficulties markets and policymakers face reacting to security events offshore. As with the sinking of a South …
A Japanese oil tanker damaged by a freak wave in the Strait of Hormuz, one of the world’s most important shipping lanes, was making its way to a port in the United Arab Emirates on Wednesday. The ship’s owners reported …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Bermuda-based Heddington Insurance Limited, both with stable outlooks. The ratings reflect Heddington’s “superior capitalization, consistently positive operating results and the role …
