The UK’s Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source familiar with the process told Reuters on …
A.M. Best Co. has assigned a financial strength rating of ‘B+’ (Good) and an issuer credit rating of “bbb-” to Vietnamese insurer Petrovietnam Insurance JSC (PVI), with a positive outlook on both ratings. The ratings reflect PVI’s “sound capitalization, excellent …
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 cargo ship and a chemical tanker have both been hijacked by pirates in the perilous waters off the coast of Somalia, bringing to four the number of ships seized in the past week, officials said Saturday. The multiple hijackings …
A report from Munich Re confirms that losses from natural catastrophes “were far lower in 2009 than in 2008 due to the absence on the whole of major catastrophes and a very benign North Atlantic hurricane season.” However, the reinsurer …
The Marine insurance market continues to face “choppy seas in the wake of the global economic crisis, with a sharp decline in international trade crippling certain sectors of the shipping community, piracy spreading to new regions, and stalled capital markets …
Typhoon Mirinae has battered the Philippine capital and surrounding provinces, still reeling from recent flooding, killing at least 14 people [IJ Note — later reports have increased the death toll to 24] and sending residents of one town clambering onto …
State historical markers outside the headquarters of Lufkin Industries Inc. in Lufkin, Texas, tell how the company started repairing sawmill equipment at the turn of the 20th century and grew to make many of the pumps dotting the world’s oil …
The biggest floods in decades threatened Vietnam’s central provinces on Wednesday following a powerful typhoon that swept into the country after wreaking havoc in the Philippines. The government said 38 people had died and 10 were missing in floods and …
Tropical cyclone Ketsana made landfall on Northern Luzon in the Philippines on Saturday as a tropical storm with wind speeds of around 40 mph (64 kph). Although the velocity of the wind wasn’t strong enough to cause serious damage, “the …
