International News for May 2009 AIR Analyzes Powerful Honduran Quake; Report 6 Dead Summary of Forecasts for 2009 Atlantic Hurricane Season AIG Completes Tokyo Building Sale Marsh Names Kimber UK Chief Risk Officer New Report Cites Climate Change as Cause for 315,000 Deaths a Year Greenland Ice Sheet Melt Could Fuel Severe US Sea Level Rise UPDATE: Cyclone Aila Death Toll up to 168 in India, Bangladesh Marsh Survey Concludes UK Insurance Rates ‘Continue to Fall’ UK’s Brown Warns Global Trade at Risk Unless World Takes Action CCRIF Issues Briefing on Impact of Climate Change on Caribbean Economies Ratings Recap: Navigators, AIG (So. Am.), Electro Re, Casiopea Re EU Unveils Reforms to Make Financial Markets Safer – Insurance Included 40 Killed as Cyclone Aila Hits India, Bangladesh Willis Aerospace Says Manufacturers Paying More than Fair Share Canada’s Auto Insurers Call for Effecftive Cost Control for Consumers France, Germany Urge More Flexible Climate Pact World Economy Stabilizing, Says Krugman Russia Must Enter WTO before Joint EU Deal Says Envoy Ratings Roundup: Gulf Re, Toa Re, MS Frontier Swiss Re Names Flunger to Head Specialty/Commercial Lines CII Skills Survey Underlines Industry Commitment to Staff Training Dowd to Take on Vice Chairman Duties at ACE Limited, ACE Group Aon Calls on P&I Clubs to Update Piracy Cover War Terms IPC Rejects Sweetened Validus Bid Ratings Recap: Echelon, Calabash Re III European Union, China Rebuild Ties; Seek ‘New Global Order’ S&P Says AIA, AIAB Ratings ‘Not Affected’ by AIG Spinoff Plans Catastrophe Derivatives Demand Surges as Storm Season Nears Validus Sweetens Offer for IPC to $1.69 Billion; Max Cap, IPC Comment Lloyd’s Chairman Addresses Current Concerns Lloyd’s Licensed in Portugal Australian Navy Warships Thwart Pirate Attack off Yemen Best Analyzes Economic Issues Facing Europe’s Insurance Industry Khawaja to Lead Marsh’s Offshore Energy Construction Team Ratings Recap: Allianz, Swiss Re (Notes), Everest Re (Ireland), Civic Int’l. Maritime Organization Questions Arming Ships to Fight Pirates Time Seen Tight for ING Asset Sales AIG Launches IPO Process for Asian ‘Crown Jewel’ XL Hires 3 Underwriters for London-based Aviation Unit Montpelier Re Launches Lloyd’s Marine Unit Max Capital Wins Court Ruling Dismissing Validus Expedition Request Catlin Sponsored Survey Team Returns Safely after 2½ Month Arctic Trek Best Affirms Aioi’s ‘A’ Ratings Validus Responds to Court Ruling; Asks for ‘Scheme of Arrangement’ Mexico Flu Slowing, Death Toll Unlikley to Exceed 100 CSU’s Gray May Reduce Atlantic Storm Outlook S&P Lowers Kingsway’s Ratings to ‘B-’ Following Weak Q1 Results Australian Broker Association Opposes High Insurance Premium Taxes U.S. Chamber Questions Lack of Due Process in EU Antitrust Decisions More European Insurers Hit by Market Writedowns Report: Process for AIG Asian IPO to Start Soon Forecasting Hurricane Intensity Still a Puzzle ING’s Q1 Loss Wider than Expected CEO Iordanou to Succeed Ingrey as Arch Capital Chairman CII’s General Insurance Professionalism Task Force ‘Up and Running’ Marsh To Host Regional UK Law Firm Briefings on Changed Risk Landscape Ratings Roundup: AXA Canada, Orkney Re II, Ajax Re Ocean Conference Seeks Ways to Stem Climate Change Validus Files Proxy Statement in Opposition to Max Capital/IPC Deal AIG Sells Tokyo Building for $1.2 Billion New H1N1 Flu Virus Not Quite a Pandemic-Yet, Says WHO U.K.’s Marketform Group Launches Five New Classes of Business Glencairn Promotes Cook to CEO Hemsi to Retire as Flagstone Alliance CEO CII Study Finds Growing Need for European Migrant Financial Services Everest Re Names Addesso VP-CFO Marsh Warns UK Construction Sector Failing to Fully Manage Project Risk Nicolson Joins Aon Energy as Head of Upstream & Offshore Construction Internet’s Growing Presence Challenges Traditional Insurance Practices Like ‘Waiting for Godot,’ WTO Awaits Next US Move Best Rates Lloyd’s Syndicates 382 (Hardy) and 1225 (AEGIS) Aon Survey Finds Slowdown in Q2 UK Premium Increases RMS Performs Risk Analysis for Ibis Re Hurricane Cat Bond Swiss Re Q1 Net Profit Falls 75% to $131.6 Million, But Results Improve Argo Group Q1 Net Income Falls to $27 Million; Operating Income Rises Zurich Q1 Net Income Down 75% to $362 Million Ratings Recap: Munich Re, Island Capital, Orkney Re, SCR, AEGIS AIR Provides AXIS with Integrated Cat Model w/ Risk Management Max Capital Group’s Q1 Net up 82% to $44.5 Million Munich Re Posts $560 Million Q1 Profit; Down 46% from Q1 2008 Lloyd’s Experts Analyze Solutions to Thwart Somali Pirates Validus Q1 Net up 30% to $94.9 million Conning Study Examines P/C Insurance Industry Outsourcing Fight against Pirates Also Needed Ashore Says Top Navy Admiral Possible Outcomes of Copenhagen Climate Change Talks Max Capital Responds to Validus’ Plan to Acquire IPC Holdings Pahl to Head Willis’ German Operation Starr Marine – Starr Indemnity & Liability Announce Servicing Agreement Report: AIG Nears Japan Building Sale for $1 Billion Fairfax Posts $60 Million Q1 Loss on Investment Woes Captain Phillips Tells Congress Arming Crews Could Help Fight Pirates Lloyd’s to Buy Back $151.7 Million of Debt Securities Everest Re Reports Q1 Net Income of $108.6 Million RenaissanceRe Q1 Net Income Falls to $97.3 Million S&P Revises Fortis’ Outlook to Positive; Belgian Ins. Unit Remains Negative Validus Offers ‘Three-Part Plan’ to Expedite Acquisition of IPC Holdings Argo Names Enoizi as Heritage CEO Grogan to lead Marsh’s UK, Ireland Middle Market Business Ratings Recap: Endurance, CRC Re International News Archives
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