International News for February 2011 S&P Announces Rating Actions in Wake of Bahrain Unrest Hiscox Posts Good Earnings, Despite a ‘Difficult Year’ Ritchie to Head New Argo Int’l. Paris Branch Office Best Affirms Endurance Specialty and Subs ‘A’ Ratings Aon Benfield Analyzes Chile Quake ‘One Year On’ Ratings Recap: Zurich/Santander, Jasindo PartnerRe Makes Changes in Catastrophe Business Unit ‘Worsening Weather, Better Forecasting’ Could Prompt Force Majeure Changes A.J Gallagher to Acquire UK Agency Woodbrook New Zealand Quake Toll Rises as Hope Fades for Survivors Ratings Recap: Aegon, Grafton (Europe), AGA, Inbursa, Malayan RSA Posts Strong Results Despite Extreme Weather Willis’ Global Markets-International Names Wemyss CEO New Zealand May Use Cat Bonds to Recapitalize Disaster Fund Austen to Head Cooper Gay Singapore Brokerage Operations New Zealand Estimates Quake Toll at 98, Many More Missing RBS Recovery Undermined by Irish Losses European Insurers Dogged by Fresh Capital Fears Chartis Increases Construction Project Capacity to $125 Million Insurers May Face $3.5-$8 Billion New Zealand Quake Hit Aon Benfield Pushes for ‘Simplified Internal Model’ for Solvency II Approval Zurich in $1.67 Billion Deal with Santander for Latin American Distribution New Zealand Quake Kills at Least 65; Race to Reach Trapped Victims Iran Oil Tanker Operator Says Ship Insurers Decline to Renew Coverage UK Government Announces Financial Regulatory Changes; ABI, Lloyd’s Comment Argo Group Q4 Net Income Drops to $12.8 Million, FY to $82.6 Million Willis UK Broker Networks Add Six New Members Mitsui Sumitomo at Lloyd’s Expands Team; Hires Five Execs Aon Report Concludes P&I Clubs See Improvements on All Fronts Fairfax Financial Posts Q4 Loss on Investments AIG Taiwan Unit Sale Faces Union Hurdles Shippers Say Somali Piracy Threat Worsening by the Week Best Sees No Change in QBE’s Rating from Balboa Buy SCOR Sells U.S. Fixed Annuity Business Kidnap & Ransom: Negotiating Lives for Cash Swiss Re 2010 Net Income up on Buffet Loan Repayment, but Miss Forecasts Australia Weather Bureau Forecasts Reduced Risk from La Nina Study Finds Auto Insurance and Services Add Profits for Car Makers, Dealers Spencer to Replace Spiller as Argo International’s Non-Exec. Chairman Zurich Names Wright to Group Head of Human Resources Arch Capital Posts $227.7 Q4 Net Income; $816.7 Million Full Year Mercer Report Concludes ‘Trillions of Dollars at Stake’ from Climate Change Ecuador Court Orders Chevron to Pay $8.6 Billon; Company to Appeal Danish Warship Frees Ship Hijacked by Pirates Lloyd’s CEO in China Talks on Expansion S&P Reports Outlook for Int’l. Marine P&I Clubs is Stable Validus Group Posts $102.7 Million Q4 Net Income; $402.6 Million FY Endurance Reports $111.2 Million Q4 Net Income; $364.7 Full Year Alterra Capital Reports $79.7 Q4 Net Income; FY $302.3 Million Montpelier Re Posts $42.2 Million Q4 Net Income; FY $212 Million Correction: Zurich BOP Off 13% for 2010 at $4.9 Billion Munich Re Marine Head Warns Against Arms Race to Combat Pirates Long-range Somali Piracy Could Affect Insurance Costs, Conditions ICA Posts Revised Claims Figures for Queensland, Victoria Floods Everest Re Posts $257.8 Mn Q4 Operating Net Income; FY $518 Mn Ratings Recap: Westaim/Jevco, GCAN, Euro Arab Best Issues Ratings Announcements on Fairfax Subsidiaries PartnerRe Appoints Miranthis to Board of Directors Pirates Hijack U.S.-bound Oil Tanker off Oman Chartis Launches Tender Offer for All Shares of Fuji Fire and Marine Willis Reports $89 Million Q4 Net Income; FY $455 Million Swiss Re Urges Australia to Use Cat Bonds as Disaster Risk Rises Lockton Warns Europe Organizations are on ‘Borrowed Time’ for Data Breaches Catlin Group 2010 Profits Fall to $406 Million on Cat Losses Zurich BOP off 13% for 2010 at $4.9 Bn; Net Income $3.4 Bn Best Affirms Fairfax, Caribbean Re Subs Ratings S&P Revises Outlook on UK’s Aviva: Ratings Affirmed Aon Warns Companies in Middle East to Plan for More Unrest Willis Makes Changes in its Reinsurance, Wholesale & Placement Units Climate Skeptics Remain Unpersuaded by Extra-warm 2010 XL Group Posts $188 Million Q4 Net Income; FY $585.5 Million AXIS Capital Posts $264 Million Q4 Net Income; FY $820 Million RenRe’s Q4 Net Income – $122.6 Million; FY $702 Million Show Decreases Hijacked Oil Tanker Headed towards Somalia Wild Weather Could Push Miners to Heed Insurers’ Warnings; Reassess Risks Aon Warns UK Businesses Face Threat from Environmental Legislation PartnerRe Hit by Cat Losses, Reports Decreases in Q4, FY Net Income Beazley Extends Global Environmental Underwriting to Pollution Coverage Aspen Posts 34% Drop in Net Income for 2010 at $312.7 Million; Q4 $92.7 Million Beazley FY Profits Top $250 Million Wildfires Destroy Homes in Western Australia Lloyd’s Warns of Increases in Fraudulent Claims Russia’s $3.6 Billion VTB Bank Roadshow Hooks Italy’s Generali S&P Puts AXA Insurance on CreditWatch After Ireland Ratings Downgrade BofA Sells Balboa Insurance Portfolio to Australia’s QBE AIR Estimates Yasi Insured Losses between $356 Million and $1.5 Billion Aon Benfield Monthly Cat Report Highlights Australian Floods, Brazil Landslides Australian Natural Disasters Spark Renewed Call Action on Climate Change ACE Reports Q4 Net Income of $1 Billion; $3.1 Billion Full Year S and P Lowers Aviva Insurance Ratings from ‘A+’ to ‘A-’ After Ireland Downgrade Cyclone Yasi Spreads Destruction in Queensland, But No Deaths Reported No Comment from QBE on Report of Talks to Buy Balboa from BofA Munich Re Estimates 2010 Profits at $3.35 Billion ICC Says Impact of Counterfeiting/Piracy to Reach $1.7 trillion by 2015 Aon Benfield Natural Hazard Centre Hosts African Workshop on Disasters Willis, Atlas Set-up Malta-based Insurer to Underwrite UK Auto Liability La Nina Helps Fuel Monster Australian Cyclone Yasi Cooper Gay Launches European Markets Integrated Trading Unit Willis Names Parker to Lead Global Service Centers in Ipswich and Mumbai Willis Appoints Capurro to Lead UK Utilities Practice Best Revises Arch Capital and Subs Outlook to Positive; Affirms Ratings Ratings Recap: Everest Re (Canada), Cologne Re (Ireland), Gulf Insurance Model Boasts Good Track Record Predicting Political Hotspots Egypt’s Troubles Mean Companies Need to Reassess Risk, Says Marsh Flood-ravaged Queensland Braces for Tropical Cyclone Yasi So. Korea Shipping Firm Re-routes Container Ships due to Egypt Unrest Queensland Hit by TC Anthony, Perth by TC Bianca – RMS Report GCube Expands Solar Capacity to Half a Billion Dollars AXA Acquires 80% Interest in B&B Insurance in Belarus International News Archives
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