International News for March 2012 IBM’s Algorithmics, Insurers Analyze Solvency II Compliance Preparation MAPFRE ASISTENCIA Launches Subsidiary in Malta Total Considers Options to Extinguish North Sea Gas Flare Iran Oil Costs to Surge with EU Ship Insurance Ban Ratings Recap: Saturn, CCR, Arch (Pref. Shares) 10.36% Stake in MAPFRE AMERICA Sold for $324 Million Lloyd’s CEO Ward on 2011 Loss: ‘Not a Bad Result’ Plan Now for Climate-related Disasters Warns U.N. Report Best Affirms Platinum Underwriters ‘A’ Ratings; Outlook Stable Lloyd’s Posts $822 Million Overall Loss for 2011 $370 Billion Econ. Losses for 2011; $116 Billion Insured, Says Swiss Re Total: “May be Months” to Stop North Sea Gas Leak Ratings Recap: ACS (NZ) Ltd., Transmonde, Risk Re, Ansvar Australia Best Affirms AGA International (Ex-Mondial Assistance) Ratings; Outlook Stable AIR Analyzes Chile Quake: No Tsunami; Minimal Damages Reported Quake Hits Central Chile; No Deaths or Serious Damage Reported OECD Says Euro Zone Public Debt Crisis Far from Over Seafarers’ Org. Lauds EU’s Extension of Somali Anti-piracy Operations Allianz Analyzes Marine Risks – 100 Years after Titanic Disaster EU Council Extends Somalia Counter-piracy Operation; OK’s Coastal Missions U.S. Intelligence Report Sees Global Water Conflict Risks Rising ING Puts $775 Million Thailand Bank Stake up for Sale – Sources Allianz Confirms 2011 Earnings; Warns 2012 Won’t Be Easier than 2011 EU Agrees to Some Iran Oil Insurance Exemptions – Until July Guy Carp’s Moczarski Named Chairman of MarshMac Companies Int’l. Ratings Recap – Notes, Pref. Shares: Swiss Re, Fairfax, AXIS, Munich Re Chevron, Transocean Charged in Brazilian Oil Spill CNA Inks Deal to Acquire Hardy Underwriting for $227 Million U.S. Chamber, European Business Call for Removing Transatlantic Trade Barriers Celent Survey Forecasts Insurers to Spend $140.6 Billion on Technology in 2012 Howie Joins Everest Re; to Become New CFO U.S. Exempts 11 Countries from Iran Oil Sanctions; China, India Exposed AIR Assessing Damage Picture from Mexico’s Earthquake Major Quake Rattles Mexico; No Significant Damage Reported Aon Benfield, Build Assure Launch Latent Defects Product for Builders Federation Starr Companies Granted Singapore License; Tat Yoong Named Principal Officer EU Fails to Agree on Exemptions for Iran Oil Transport Insurance Brazilian Prosecutor to Charge Chevron Cannot Stop Oil Leak FSA’s Chief Executive Sants to Step Down in June ABI Calls for Lawsuit, Health and Safety Regs Reform to Help UK Business Blunt to Head New Sportscover Specialty Lines Division Tropical Cyclone Lua Hits Northwest Coast of Australia as Cat 4 Storm A. J. Gallagher Acquires Canadian Broker BenefitLink Resource Group Venezuelans Threaten Mass Lawsuits for Faulty Breast Implants IMF Head Sees Global Economy on Recovery Path, but Risks Remain Development Bank Plans Natural Disaster Fund for Latin America HDI-Gerling UK Appoint Blanco as International Liability Underwriter Willis Warns Companies to ‘Wake up to Cyber Threats,’ Liabilities EU Foreign Ministers Set Talks on Tanker Insurance for Iran Oil Embargo Thailand’s Thanachart Bank Ready to Sell Insurance Ops Say Souces PCI Applauds Global Regulators’ Expanded Timeline for G-SII Rules AIG, Atradius Execs Join Micro-insurance Investor LeapFrog for Africa, Asia Allianz Teams with Experts to Assess Climate Change Impact on Insurers PERILS Lowers Loss Estimates from Windstorm Joachim to $377 Million ABI Warns UK Homeowners of Subsidence Risks from Drought Ultimate Risk Solutions Names Nicolini Senior Advisor for Europe Hannover Re Board Approves Legal Change to Societas Europaea Munich Re Confirms 2011 Profit at $937 Mn; Forecasts $3.3 Bn in 2012 Best Affirms RSA Canada, Subs and Holding Company Ratings Talbot, Abu Dhabi Insurer End Joint Venture; Continue Commitment Best Report: Saudi Arabia’s Insurance Market Adapts to Change Debt Ridden India Makes More Claims on Its Insurance Giant $27.2 Billion Lawsuit Against Big Tobacco Starts in Montreal Rajab Appointed Aon Benfield’s New CEO for Middle East, North Africa Willis Names Bellone for Europe Capital Markets & Advisory Unit ICA Declares Flood Zone Catastrophe; Economic Losses May Top $1.5 Billion Japan Marks One Year Since Earthquake – Tsunami Disaster Geneva Association Report: 2011 an ‘Annus Horribilis’ for Insurance Industry Armour Group Forms Specialty Securities Unit Greece Averts Immediate Default with Bond Swap Deal Success UK Gov’t. Minister Lauds Willis Tech Product; Stresses Innovation Importance UK Broker BMS Launches New Global Construction Initiative IAG to Restructure CGU Operations; 600 Jobs to Go QBE Forming Global Reinsurance Business – QBE Re Survey Finds Emerging Markets’ Growth in Auto Financial Services Thai Reinsurance Expects 2012 Loss from Floods Willis Chief on Non-Traditional Risks Facing Airlines; Asia-Pacific Growth Ratings Recap: Grupo Nacional, GBG Willis Receives Approval for New China Office in Chongqing HSBC Sells General Insurance Business to AXA, QBE for $914 Million Markel International Acquires UK Managing Agent Quay Underwriting Best Affirms Endurance Specialty and Subs ‘A’ Ratings; Outlook Stable UPDATE: S&P Sees No Rating Change for Ariel Re from C&S Sale to Arch MAPFRE Group Licenses Risk Solution Products for Companies Bondholder Group Sees Over $131.8 Trillion Greek Default Risk Ratings Recap: CIS (Panama), Guild, Eurasia, Halyk-Kazakhinstrakh Endorsements for All Business Classes in London Go Electronic Says LMG ABI Head Warns EU Solvency Rules Must Not Deter Growth, Investment Arch Capital to Acquire Ariel Re’s Credit & Surety Reinsurance Operations Best, S&P React to Ariel Re Sale of Bermuda, Zurich Units AIG to Sell $6 Billion Worth of AIA shares to Repay U.S. Bail-out Goldman Sachs Acquiring Ariel Re Bermuda Operations Pirates Thwarted in Attack on Nigerian Tanker Japan Refiners Eye Force Majeure Clauses Due to Lack of Insurance Iran Ship Insurer Vows to Pay Western Claims Despite Sanctions Google Privacy Policy Violates European Law, Agencies Say Fired Olympus Boss Woodford Launches Wrongful Termination Suit Greece Has Not Triggered CDS Insurance Payments: ISDA HSBC Close to $1B Insurance Sale to AXA, QBE: Reuters International News Archives
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