International & Reinsurance News for March 2006
- 57 Confirmed Dead as Excursion Boat Sinks off Bahrain
- Antarctic Troposphere Warming up 3x Faster than Global Average
- Transatlantic Re Elects New Officers
- Best Assigns Casiopea Re ‘A-‘ Ratings
- S&P Assigns ‘B-‘ Rating to New NZ Insurer Western Pacific
- S&P Rates Korea’s Dongbu ‘BBB+’
- S&P Stresses Importance of ‘Financial Flexibility’ for Reinsurers
- Marsh Mac’s Mercer Finds Lack of Pandemic Planning
- ABI Report Questions Effectiveness of Some FSA Regulation
- Lloyd’s Remains Major Energy Sector Coverage Specialist
- IAG Completes Tender Offer for Thailand’s Safety Insurance
- Lloyd’s Pleased with Firms 2005 Results Despite Hurricanes
- Best Takes Rating Actions on Kingsway
- Berler Joins XL as Global Business Development Leader for Energy
- Barbados Bulletin Boosts Burgeoning Captive Business
- Aon Reports on 9th Latin American Energy Insurance Conference
- Aon Global Market Property Tracker Shows Rates Still Falling
- Cyclone Larry Losses Top $175 Million
- Best Affirms Arab Re ‘B+’ Ratings
- Fitch Finds Life Insurers/Reinsurers Most at Risk from Bird-Flu Pandemic
- S&P Assigns IAG ‘AA-‘ Ratings
- Lloyd’s and Markel’s Italian Road Show
- Middleton Appointed to Head Aon Consulting (U.K.); Dail Named Global Chief Administrator
- Max Re Conducting Internal Audit of Finite Reinsurance Contracts
- Best Downgrades, then Withdraws Olympus Re Ratings
- Best Affirms Lancashire Ratings; Removes from ‘Under Review’
- Aviva Gives Up on Pru Purchase
- Hannover Re 2005 Pretax Net Income Down 89.8% to $57.78 Million
- Best Affirms Steamship Mutual Underwriting (Bermuda) Rating
- Generali Profits up 15.2% to $2.3 Billion
- Crawford Handling Australian Claims
- Arctic, Antarctic Melting May Raise Sea Levels Faster than Expected
- Lloyd’s Urges Rethinking on Cat Losses
- R&M Issues Irish Insurance Report
- RenRe Names Curtis Sr. VP – Cat Re
- Fitch Places Fairfax, Odyssey Re some Subs on Rating Watch Negative
- Best Affirms Steamship Mutual Underwriting (U.K.) ‘A-‘ Ratings
- Guy Carpenter Names Powell to Head Latin America, Caribbean; Callahan to Manage Treaty Business
- Ellis Joins Willis as Global Energy Practice Leader
- Fitch Downgrades Avalon Re; On Rating Watch Negative
- FSA, OFT to Cooperate on Regulation of Payment Protection Policies
- XL Names Cross Global Chief Actuary
- SCOR 2005 Net up 75% to $158 Million
- AIG Global Energy New Appointments
- Aon/Albert G. Ruben Map Details Risks to Overseas Filmmaking
- Aon Re Issues Global Study on Customer Catastrophe Segmentation
- Allianz German Group Total Earnings up 30% to $2.14 Billion
- Tropical Cyclone Larry Insured Loss Estimates $65 Million
- S&P Lowers American Steamship Mutual Ratings to ‘B+’
- FSA Cites U.K. Market Progress; Won’t Propose Regulations
- Montpelier Re Names Harris Chief Underwriting & Risk Officer
- Best Affirms R&SA’s Ratings; Revises Outlook to Stable
- Fitch Affirms Converium Ratings; Off Rating Watch Negative
- Prudential (UK) Rejects Aviva Bid
- Larry Lashes Northern Australia
- New Lloyd’s Policy Wording Covers Terrorist ‘Piracy’
- Willis Nominates Friberg, Gardner and Hanley as Directors
- Best Places Odyssey, Fairfax and Northbridge Ratings under Review/Negative
- S&P Ups Eureko Outlook to Positive
- Insurers for Nortel to Pay $228.5 Million to Settle Shareholder Suit
- Zurich Board of Directors Extends CEO Schiro’s Contract through 2009
- XL Re Life Enters the U.S. Life Reinsurance Market
- Guy Carpenter Appoints Carless to Lead Pacific Operations
- OdysseyRe Delays Filing of 2005 10-K
- Allianz Nearly Triples 4Q Profit
- Best Affirms FSR for Lloyd’s Syndicate 609; Outlook is Stable
- Best Affirms FSR of Hang Seng Insurance Co. Ltd.; Outlook is Stable
- HCC Closes Minority Stake in Lloyd’s Heritage Underwriting Agency
- Best Places Ratings for Lancashire Insurance Co. Under Review
- Munich Re’s 4Q Profit Quadruples Despite Gulf
- Willis Named Primary Risk Consultant to China Development Bank
- Hiscox Weathers Hurricanes, But 2005 Profits Decrease
- Endurance Names Fujii COO – Global Insurance Operations
- Guy Carpenter Unveils Hail Risk Model for Italy
- Omni Whittington Announces Final Closure of Lloyd’s Syndicate 1224
- Aon ‘Trade Credit Comments on ‘Burdensome and Arbitrary Regulations’
- S&P Comments on Allianz Marine & Aviation Positive CreditWatch
- Hurricanes Hit Catlin’s 2005 Net; Down 87% to $19.66 Million
- XL Launches Chinese Insurance Leadership Program
- R&SA 2005 Operating Profits Soar 171% to $1.215 Billion
- Best Affirms Lloyd’s Synd. 958 Ratings
- Lloyd’s Welcomes NAIC Review of U. S. Collateral Requirements
- U.K.’s Catlin Group Appoints Banas President, CEO of New U.S. Company
- S&P Bulletin Recognizes AXA’s Auto Policy Securitization
- Aon to Lay Off 1,800 Employees in a 3-year Restructuring
- UN’s World Food Program Insures against Ethiopia Famine with AXA Re
- Best Affirms PICL ‘B++’ Ratings
- Clarke to Leave Converium’s Board
- ABI Says U.K. Fires Cost Industry Nearly $3.5 Million a Day
- JLT 2005 Profits Down 20%
- Hannover Re Reorganizing U.S. Business with Praetorian Launch; S&P Ratings and Comments
- Converium to Sell Nordic Aviation
- Ward is New Lloyd’s CEO
- Atlas Management Appoints Leighton Group Managing Director
- Best Affirms Rutland ‘B++’ Ratings
- Liberty Seguros Portugal in Alliance with Portuguese Insurer Acoreana
- Generali Posts 15% 2005 Profit Rise to $2.3 Billion; Unveils Growth Plan
- S&P, Best Comment on Generali Plans
- R&M Issues Study on Venture Capital D&O Indemnification
- London Asia Capital Unveils Mongolian Joint Venture
- CORRECTION: Kyoto Compliance Rules on Greenhouse Gas Emissions
- Wethington Named Chairman of AIG Companies in China
- SCOR Premium Income up 25%
- FSA Shuts Down 6 Insurance Firms
- UNEP Enacts Kyoto Compliance Rules
- Best Affirms FSR for Lloyd’s Syndicate 1225; Outlook is Stable
- XL Insurance Notes New Developments in Global Aerospace Operations
- S&P Releases Lloyd’s Market Study
- Best Keeps Swiss Re’s Ratings under Review/Negative
- R&M Releases Historical Loss Study
- Xinhua Finance to Acquire Chinese Risk Manager Beijing Alpha
- S&P Rates Nipponkoa-Europe ‘A’
- Allied World Posts $23.9 Million Q4 Net Loss; $159.8 Million Full Year
- Quanta Reports Increased Q4 Loss; Best Lowers Ratings
- Best Affirms EIC Corp. (Bermuda); EIC (Europe) ‘A-‘ Ratings
- OneBeacon Launches Online Marine Cargo Insurance Service
- Sordi Resigns from RS Group
- RenRe Promotes Wilcox to Sr. VP
- R&M Reports on U.K. Brokers
- S&P Raises Neftepolis Ratings to ‘B’
- 2005: A Rough Year for Swiss Re; Net Income Down 41% to $1.1 Billion
- Allianz Opens New Office in Shenzhen
- GE Insurance Solutions Reports Solid Renewal Season
- Lloyd’s Honors Edwards of HRH, Eyre of Towers Perrin
- U.K. Auto Market Going to the Internet
- AXA Records Strong 2005; Net Profit up 12% to $4.98 Billion
- Best Assigns Singapore’s First Capital ‘A-‘ Ratings
- Lord Levene Answers Questions after Bermuda Conference
- Swiss Re Names Strebel Head to Lead Latin American Unit
- Amber Cert Reduces D&O, E&O Premiums; Aon, Willis, Brit Comment
- RMS CEO Discusses Cat Models at Bermuda Conference
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