Political and financial instability remain a feature of the business landscape as a result of the recession, according to Aon Risk Services, the global risk management and insurance brokerage business of Aon Corp. The company launched its 17th annual Political …
A poll, conducted by Marsh, concluded that “despite the continuing fall-out from the global recession, corporate governance is still a largely undeveloped discipline in the United Arab Emirates (UAE).” The survey of delegates at the Marsh Risk Consulting seminar in …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Italy’s Societa Cattolica di Assicurazione – Societa Cooperativa. Both ratings gave negative outlooks. Best said the ratings reflect its “expectation …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on United Arab Emirates (UAE)-based composite insurer Oman Insurance Co. (PSC) to ‘BBB’ from ‘BBB+’. The ratings remain on CreditWatch with negative implications, where …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of South Korea’s Hyundai Marine & Fire Insurance Co., Ltd. (HMFI) both with stable outlooks. “The ratings reflect the …
Swiss Re’s Economic Forum, held today at the reinsurer’s iconic London headquarters, presented a far more encouraging picture of the world’s financial condition than a year ago. However, there may be light at the end of the tunnel, but the …
A.M. Best Co. has affirmed the financial strength rating of’ A+’ (Superior) and issuer credit rating of “aa-” of Bermuda-based Tokio Millennium Re Ltd. (TMR), both with stable outlooks. Best noted that TMR is a wholly owned subsidiary of Tokio …
The United Arab Emirates National Health Insurance Company, Daman, and Munich Re have extended their strategic alliance and partnership. The bulletin noted that the “initial five-year agreement between both firms was signed in 2005 when Daman was set up. Due …
A report from Standard & Poor’s Paris office – The Sukuk Market Has Continued To Progress In 2009 Despite Some Roadblocks – notes that new issues of “sukuk (bonds compliant with Islamic law) topped $9.3 billion in the first seven …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based International General Insurance Company Limited (IGI). Best also affirmed the ICR of “bbb-” of International General Insurance Holdings Limited …
