International & Reinsurance News for May 2010
- UK’s Prudential Confirms AIA Deal Still On
- Breedon to be Next ABI Chairman
- Lloyd’s Market Association Appoints Hurst-Bannister as Chairman
- Ratings Recap: Montpelier Re, CCR Algeria
- Canada Prohibits Insurance Sales on Bank Web Sites
- Pru In Talks to Lower Price for AIG’s Asian Unit, AIA
- Saft: Lessons for U.S., UK from Japan’s Lost Decade
- Pickering to Head Willis Russia, E. Europe, M.East, So. Africa Operations
- More Analysts Warn on Prudential’s $35.5 Billion Deal for AIA
- World Warms, But Public Cools to Action on Climate Change
- Best Affirms Ironshore’s ‘A-‘ Ratings; Outlook Stable
- Markel International Launches New Trade Credit Division at Lloyd’s
- U.S. Hurricane Center Director Says Haiti is ‘Biggest Concern’
- Lloyd’s Estimates Chile Quake Loss at $1.4 Billion; Oil Spill $300 to $600 Million
- Intermap Technologies, JBA Consulting Provide European Flood Maps
- Ratings Recap: Hatherley, Attorneys Liability
- James to Succeed Byrne as Flagstone Re Board Chairman
- Insurers Gain Access to Detailed UK Ordnance Survey Maps
- U.S. Trade Chief Urges China to Lower Barriers
- Tropical Storm Risk Forecasts Active 2010 Hurricane Season
- S&P Affirms Hannover Re’s ‘AA-‘ Ratings; Outlook Revised to ‘Stable’
- Former PM to Head Ireland’s International Financial Services Center
- CATEX, UK’s TriSystems Team up to Create ‘End-to-End’ Processing
- Hunt for Clues after India Plane Crash Kills 158; 8 Survive
- Investors Still Hope for India Fiscal Reform after Mixed Year
- Report: AIG to Revisit Float Plan if Prudential AIA Bid Fails
- Concern over China’s Protectionism at 10 Year High Says U.S. Chamber
- Munich Re Securitizes $80 Million for Europe Windstorm, U.S. Hurricanes
- EU Faces a Battle in Achieving Closer Economic Union
- Willis’ Plumeri Urges UK Government to Spur Insurance Industry Growth
- RenRe Expands Executive Committee
- GAB Robins Launches Broker Services at BIBA 2010
- Aon Benfield Broadens Academic, Industry Research Collaboration
- Bowring Marsh Opens Tokyo Office
- Best Affirms Platinum’s ‘A’ Ratings
- CCIR Commends EU for Opposing US Reinsurance Proposals
- Miller Adds Two Global Facultative Reinsurance Specialists
- ACE Launches New Multi-line Products to Drive UK, Ireland Growth
- Ratings Recap: Ageas (ex-Fortis), Island Heritage, New Century
- Lloyd’s CEO Calls for ‘Underwriting Discipline’ In Face of a ‘Tough Year’
- Lloyd’s China Granted Direct Insurance License
- Flagstone Re Completes Redomicile Move to Luxembourg
- Volcker Says Europe Committed to Common Currency
- RMS Announces New Parametric Loss Index for Japan Quake Risks
- Airline Industry Group Blasts Europe’s Handling of Volcanic Ash
- Bermuda Signs Tax Accord with Italy
- Swiss Re Offers Risk Managers Solvency II Advice for a ‘Post-crisis World’
- Marsh Stresses Importance of ‘High Quality Risk Information’ Presentations
- ECB’s Plan to Buy Bonds Risks Making it Europe’s ‘Bad Bank’
- ING’s Good Results Reduce Pressure to Sell Insurance Arm
- Zurich Announces Restructured Senior Management Appointments
- Best Affirms Lloyd’s Syndicate 1225 (AEGIS) ‘A’ Rating; Stable Outlook
- Willis Funds New Professorship for Climate, Weather Risk Insurance
- Ratings Roundup: International General, Civic Assurance (NZ)
- S&P Affirms Alterra’s Ratings Following Max Cap, Harbor Point Merger
- UK’s Prudential Prices $21 Billion Cash Call; Woos Investors
- Sources Indicate U.N. to Pick Costa Rica’s Figueres as New Climate Chief
- Volcanic Ash Grounds European Flights
- Marsh: Ash Clouds, Strikes Increasing Demand for “Non-physical’ Coverage
- Barbados Meeting Analyzes Caribbean Climate Adaptation Study
- Volcker Worries about Euro’s Future
- Report: UK’s Prudential to Outline Asia Asset Sales to Fund AIA Buy
- Report: National Australia Bank to Sell Assets for $13 Billion AXA Deal
- Libyan Jet Crash Kills 103; Dutch Boy Sole Survivor
- Life products, Asset Mgmt. Buoy Allianz, Generali, Aegon, Ageas in Q1
- Marsh Names Denney as ‘Networks Leader;’ Mills for Networks Service
- Max Capital, Harbor Point Merged to Create Alterra Capital
- Best Upgrades Alterra Capital and Subs Ratings to ‘A’
- Report: Goldman Sachs Nears Deal for AXA’s $1 Billion Taikang Stake
- Montupet Elected as New PartnerRe Board Chairman
- Tardy Greek Debt Bailout Spreads Financial Crisis beyond Europe
- Somali Pirates Seize Greek-owned Ship in Gulf of Aden
- Willis Research Warns of Costly Consequences of Volcanic Eruptions
- Allied World Joins with Security Firm for K&R Coverage
- Bermuda Signs Tax Accord with Portugal
- RMS Licenses Cat Modeling Software Programs to China Re
- Best Report Forecasts More Mutual Partnerships as Challenges Mount
- Europe’s Travel Firms Count Costs of Volcanic Ash Disruptions
- Ironshore Places $250 Million in Notes
- Munich Re Posts $633 Million Q1 Profit Despite Nat Cat Losses
- ‘Shock and Awe’ Halts Euro Market Slide – for Now
- ABI Advises Travelers After Latest Volcano Ash Cloud Disrupts Flights
- (Re)Insurers Take on $5 Billion Risk with Soccer World Cup Coverage
- Flagstone Re Q1 Operating Income Down 61.4% to $12.1 Million
- PartnerRe Reports Q1 Operating Loss; Net Income $79.7 Million
- UK’s Conservatives Appear Short of Majority; Hung Parliament Looms
- Russia Releases Captured Tanker Pirates
- Swiss Re Posts $158 Million Q1 Net Income, Despite Natural Catastrophes
- Zurich’s Q1 Operating Profit up 19% to $1.3 Billion; Net Income $935 Million
- Argo Posts $20.7 Million Q1 Net Income; Operating Down at $12.2 Million
- Searchers Locate Area of ‘Black Boxes’ from Air France Flight 447 Crash
- Marsh Finds Europe’s Financials Buying Less Insurance to Save Costs
- Platinum Appoints Decleir CFO; Increases Share Repurchase Program
- Ratings Roundup: Amlin, United Barbados
- Germany’s Merkel, IMF Head Warn of ‘Contagion’ in Euro Zone Crisis
- UK’s Prudential Delays Share Sale; Hits Regulatory Snag
- XL Capital Posts $128 Million Q1 Net Income; $150 Million Operating
- Max Capital Posts $36.4 Million Q1 Net Income; $40.7 Million Operating
- Air France Extends Flight 447 Crash Site Search in Atlantic
- Hannover Re Reports $203.4 Q1 Net Income, Despite ‘Major Losses’
- UK’s Amlin to Establish European Reinsurance Company in Switzerland
- Somali Pirates Hijack China-bound Oil Tanker off of Yemen
- Volcanic Ash Cloud Again Grounds Flights in Scotland and Ireland
- Volcanic Ash Closes Irish, UK Airports; Summer Chaos Feared
- Best Affirms ACE and Subs Ratings; Outlook on Debt Changed to Positive
- Aon Consulting Appoints Chaudhari, Connell to Global Leadership Posts
- Torus Acquires Glacier Insurance
- PartnerRe Announces Retirement of President and CEO Patrick Thiele
- Ratings Recap: Torus, QBE (debt)
- EU, IMF Agree on $147 Billion Greece Bailout; PM Warns of ‘Sacrifices’
- XL Shareholders Approve ‘Redomestication’ Move to Ireland
- Fairfax Financial’s Watsa Sees ‘Short-term Uncertainty, ‘Ultimate ‘Rewards’
- Buffett to Visit India, Won’t Rule Out Insurance Investment
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