International & Reinsurance News for December 2010
- 2011 Outlook: Too Much Capacity + Stagnant Demand = a Soft Market
- Best Assigns ‘A’ Rating to Swiss-based Catlin Re
- U.S. Analyst: China May Be ‘Likely Bright Spot’ in Asia Climate Action
- Willis Re: Overcapacity Keeps Renewal Rates in Reinsurance Down
- Best Affirms Mitsui Sumitomo Insurance ‘A+ Ratings; Outlook Stable
- Carlyle Group Sells $860 Million Stake in China Pacific -Sources
- UK Homeowners Insurance is Biggest Fraud Target; $3.55 Million a Day
- Munich Re Invests $3.31 Billion in German Wind Power Plants
- Rising Rivers Prompt Evacuations of Australian Towns
- Lloyd’s Does Well in a Tough Year
- Flagstone Re Places $210 Million Cat Bond Using RMS Paradex Indices
- Heavy Rains, Floods Disrupt Australia Coal Mining, Port, Freight Operations
- ACE Completes Acquisition of Rain and Hail Insurance Service
- Fitch Affirms Brazil’s Sul America’s Ratings; Outlook Stable
- Chartis Obtains $450 Million Cat Bond with Lodestone Re
- Ratings Roudup: PMG (Sony), Qatar General, Al Ittihad
- Best Europe Affirms ‘A’ Ratings of HDI, Gerling, Talanx Companies
- FACTBOX: 25 Ships and Crews Still Held by Somali Pirates
- Japan’s Dai-ichi Life to Take over Australia’s Tower Group for $1.2 Billion
- Catastrophes Top 2010 List of Major Global Insurance Events
- WSJ Reports AIG Nearing Nan Shan Buyer
- Best Assigns Rating to Allianz Risk Transfer AG
- Willis’ FINEX National Strengthens VEAGIS for UK Property Experts
- Ratings: Aspen, Allianz Risk Transfer, Inter Hannover UK, Transsib Re, Jordan Insurance
- Catlin Raises Estimates of NZ Quake Losses to $45 Million
- Zurich Signs Exclusive Distribution Agreement with Fortis for Turkey
- Best Affirms Lloyd’s Syndicates 2623, 623, 3623, 3622 Ratings (Beazley)
- Best Revises Outlook; Affirms Ratings for West of England PI Club
- Best Affirms ‘A-‘ Ratings of Flagstone Re and Affiliates
- Torus Strengthens European Service Delivery with Senior Appointments
- S&P Rates Catlin Re ‘A’; Sees ‘Key Benefits’ from Swiss-based Subsidiary
- Best Rates UK’s Ecclesiastical ‘A’; Upgrades Ansvar Subsidiary to ‘A’
- Europe Weather Ruins Christmas for Airlines, Retailers
- Ratings Roundup: Lemma, Russian Re, Ghana Re, International Energy
- Aon Benfield Licenses ReMetrica to Bahrain’s Q-Re
- Honda Civics Top List of Canada’s 10 Most Stolen Cars
- AXA Appoints Droesch as CEO – Gulf Region
- Snow, Ice Disrupt pre-Christmas Travel in Europe; Many Flights Cancelled
- ACE Launches Operation in Dubai International Financial Centre
- Pension Trustees Wary of Bets on Death
- France’s SCOR Group Launches Global Risk Center
- Milton Joins Cooper Gay to Develop Financial Institutions Sector
- Aon Benfield Releases Annual Cat Report; Insured Losses at $38 Billion
- ABI Warns UK Skiers on Risks of Expensive Medical Bills
- Lloyd’s Appoints Chaplin as New Head of Asia Pacific Region
- Best Affirms Ratings of Lloyd’s Syndicate 2001 and Amlin plc
- Best Affirms Amlin AG’s ‘A’ Ratings
- Lloyd’s Names Lang to Replace Chaplin as Head of Claims
- Ratings Roundup: NIPPONKOA (Asia), Aspen (Notes), Asia Capital
- Chubb Receives Final Approval for China Branch in Nanjing
- BrokersLink Appoints Bitner Latin America COO
- Europe’s PERILS Data used in over $1 Billion Worth of Insurance Placements
- Aon Benfield Names Jing Ping Zhang to Head China Facultative Operations
- Marsh Hires Henaes and Hareide for Norwegian Energy Team
- Swiss Re’s New sigma Study Highlights ‘Relevance of Microinsurance’
- WTO’s Lamy Tells Negotiators to Push for Doha Deal
- PartnerRe Ups New Zealand Quake Loss Estimates to $140-$160 Million
- James Saft: EU Must Choose Its Lies Wisely
- Droughts, Floods, Snow and Cold Hit Global Commodities
- ACE Opens Larger Office In England
- Beazley Withdraws Offer for Hardy after ‘Final Proposal’ is Rejected
- RMS Analyzes Sweden Bomb Attack
- Swiss Re Secures $106.5 Million Vega Cat Bond for Multiple Perils
- An Analysis on Climate Talks: 18 Years, too Little Action?
- P&I Insurance Market Makes a Record Comeback Says Willis Report
- Chartis Applauds U.S. , South Korea Free Trade Agreement
- Cancun Climate Talks End with Modest Steps, No Kyoto Deal
- RMS Conducts Risk Analysis for SCOR’s Atlas VI Cat Bonds
- UK Pet Costs: Average Around $532, but Dachshunds are $858
- UK Online Insurance Buyer Survey Finds Wigan Residents #1 Users
- Markel International Appoints 2 New Underwriters to UK Retail Division
- Ratings Roundup: Dongbu, Afianzadora, BNY Trade, Unive Her
- PartnerRe Repurchases App. 1.7% of Common Shares Outstanding
- Tunnicliffe Rejoins Marsh to Head UK Risk Consulting
- Kofi-Sikah to Join TER as Sr. Financial Lines Underwriter
- Panama Canal Traffic Halted Due to Heavy Rains
- Byrne to Retire from Flagstone Re Board
- Swiss Re’s Economic Forum Sees Continued Growth, Pressure and Risks
- S&P Affirms ING’s Ratings; Removed from CreditWatch; Outlook Negative
- EU Will Back Russia’s WTO Entry
- Chubb Program Expedites Clinical Trials in Czech Rep., Hungary, Portugal
- Catlin Re Switzerland Receives Approval from Swiss Regulators
- UN Secretary General Urges Climate Agreement ‘Short of Perfect Deal’
- Lloyd’s Warns of ‘Increasing Stress’ on Water Resources
- Pirates Hijack Cargo Ship with 25 People aboard off India
- Aon Launches Extended Restaurant Brand Protection Policy
- U.S., South Korea Welcome Long-awaited Free Trade Deal
- S&P Withdraws GenRe UK’s Ratings After Restructuring
- Continental, Mechanic Found Guilty in Concorde Crash Trial
- Aon Names West to Head UK Business Continuity Practice
- Aon Benfield Cat Report for November Highlights Cold and Floods
- Talk About the Weather
- Lloyd’s CEO Opens Toronto Office
- India Expects to Break Rich/Poor Deadlock at Climate Talks
- Huge Forest Fire Kills 40 in Israel
- Spain’s Economy Minister Says Country ‘Not Next’ for EU Bailout
- Aon Advises UK Businesses to Evaluate Continuity Plans Due to ‘Big Freeze’
- Tropical Storm Risk on ‘Remarkable’ 2010 Hurricane, Typhoon Seasons
- Ratings Roundup: China Taiping (NZ), BEST RE (Malaysia)
- UK Freezes Could Cost Insurers $11 Million a Day Warns ABI
- Qantas Moves to Take Rolls-Royce to Court over Engine Failure
- Brokerslink Adds Three New Members in Global Expansion
- WTO Head Warns Stimulus Measures May Have Impact on Trade
- Dutch Insurer Aegon to take $290 Million Charge from U.S. Restructuring
- US Plans to Press China on Trade at Dec. 14-15 Meeting
- Zurich Completes Acquisition of Lebanese Insurer
- Lockton Expands Risk Management Services with Germany’s Funk Group
- Zurich in Alliance with Italy’s SACE to Promote Global Surety Business
- Northern Europe Counts Costs of Early Winter Weather
- Euro Crisis Worries Spread; U.S. to Send Treasury Envoy
- European Storm Season Starts, But Forecasts are Difficult, Says Lloyd’s
- Best Revises Aviva and Subs Outlook to Positive; Affirms Ratings
- Marsh Launches Comprehensive Political Risk Facility
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