International News for March 2011 Rating Agencies Might Stop Reports Due to EU Threats Say Sources Cooper Gay Swett & Crawford Posts Combined Results; EBITDA $68 Million Jacobson Group Expands into International Marketplace AIR Releases New Northwest Asia-Pacific Area Wide Typhoon Model Liberty Mutual Authorized to Establish Guangdong Branch Willis Re: Japan Quake Not Enough to Turn Soft Market Lloyd’s ‘Confident’ It Can Cope with Japan Claims Cat Bond Investors Braced for Japan Disaster Hit Report: Engineers Knew Tsunami Could Overwhelm Fukushima Plant Best Puts Omega’s Ratings on Review/Negative; Syndicate 958 Unchanged Lloyd’s Annual Report: $3.5 Billion 2010 Profit; ‘Solid’ Says CEO U.S. Business Group Says Doha Round Hopes Fading 2010 Nat Cats, Disasters Cost $218 Bn – $43 Bn Insured; Says Swiss Re Piracy: Enough is Enough Say Shippers as They Seek Government Help Ironshore Canada Launches Specialty Casualty Division S&P Puts Montana Re Cat Bonds on CreditWatch Negative after Japan Quake Japan Reinsurance Prices Should Rise 50%: Analyst Chartis Receives High Response for Fuji Fire Share Offer IFRIMA Joins Call for Brazil to Rollback Insurance Law Changes Liberty Mutual Brazil Syndicates Expand Presence AIR Worldwide Estimates Japan Insured Losses up to $30 Billion S&P: Outlook Negative on 9 Japanese P/C Insurers; Ratings Affirmed Ratings Roundup: Topiary (Cat Bonds), Cardif, AMI, PhilNaRe Swiss Re Gives Proposals for Next AGM UK China Ambassador Opens Lockton’s Beijing Branch Office Former NAIC Pres. Atchinson to Head Geneva Ass’n. Institutional Relations Best Comments on First Asian Based Captive Rating XL Re Teams with Aon Benfield to Implement E-commerce Messaging Allianz Nat Cat Analysis: Economic Growth a Major Factor for Increased Losses UK Insurers Support Corporate Tax Reduction; Budget for Growth Insurer Shares Relatively Unaffected by Japan Damage Estimates Guy Carp to Develop Agriculture Microinsurance for Mozambique Farmers Munich Re Estimates Japan Quake, Tsunami Claims over $2 Billion Hannover Re Estimates Japan Quake, Tsunami Losses at $355 Million Japan Govt. Estimates Quake, Tsunami Damages at $185 to $308 Billion Platinum Estimates NZ Quake, Aus. Flood Losses at $160 Million; Assessing Japan Best Places Topiary Capital Debt Rating under Review/Developing London Broker Sees Some Libya Claims, but Situation is Unclear AXIS Estimates NZ Quake, Aus. Flood Losses at $275 to $315 Million BIBA Calls for Realistic Regulation of UK Brokers Japan Disaster Shows up Flaws in ‘Just-in-time’ Production EU Prods China to Relax Restrictive Bank Ownership Rules Euler Hermes, China Pacific Team up to offer Trade Credit Ratings Roundup: NAGICO, Transmonde S&P Says Rating Actions on Japan Insurers Unlikely Wilkinson to Lead Willis’ Realigned International Business Alterra at Lloyd’s Appoints Abrahams Sr. Property Underwriter Alliant Issues New Report on Insurable Risks in 175 Countries Swiss Re Estimates Japan Earthquake, Tsunami Claims at $1.2 Billion FERMA Calls for Withdrawal of New Brazilian Reinsurance Regulations MDS Acquires 50% Stake in Portuguese Auto Insurance Specialist Marsh Warns Japan Disaster Could Disrupt Global Supply Chain Airbus Placed Under Investigation over Rio-Paris Crash Lloyd’s Chaucer Lowers NZ Quake, Aus. Flood Loss Estimates; Assessing Japan Everest Re Puts NZ Quake Losses at $140 to $210 Million; CEO Comments on Japan Endurance Estimates $15 Million Aus. Flood Loss; $45 Million NZ Quake Alterra Gives Estimates Aus. Floods, Cyclone Yasi, NZ Quake Losses Supply Chain Concerns Grow as Japan Lacks Parts, Power, People EU Regulator: ‘No Major Threat’ to Europe’s Insurers from Japan Crisis Ship Owner Calls for Suez Canal Boycott over Pirate Threat Global Fears Mount as Japan Takes Desperate Measures to Cool Reactors EQECAT Updates Japan Quake/Tsunami Analysis; Insured Losses $12-$25 Billion Lloyd’s Insurer Kiln Enters Liability Market XL Insurance Promotes Bruce-Smythe to CUO – Int’l. P/C RenRe Estimates Australia Flood Losses $30 Mn; NZ Quake $190 Mn Best Report Notes Growth in Panama Insurance Market SCOR Gives Preliminary View on Japanese Natural Catastrophes Montpelier Re Estimates $75 Mn NZ Quake Losses; $15 Mn Australian Floods Aspen Appoints Calaiaro as Sr. VP – Investor Relations Canada’s Manulife Says Japan Exposure ‘Less than $153 Million’ Best Comments on Rating Impact of Japanese Earthquake/Tsunami Debate Begins: Will Japan Disaster Raise Insurance Rates? Japan Scrambles to Pull Nuclear Plant Back from Brink of Disaster Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’ Swiss Re Reaffirms Commitment to Japanese Market Japan Recovery and Reconstruction Cost ‘at Least $180 Billion’ Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares All Eyes on Reactor Vessel as Japanese Nuclear Crisis Worsens Arch Estimates NZ Quake Loss at $35-$70 Million; Assessing Japan EQECAT Analyzes Specific Exposures from Japan Quake/Tsunami Lloyd’s Statement on Japanese Earthquake/Tsunami Commentary: The World Responds to Japan’s Agony Aflac CEO Says Exposure to Japan Quake/Tsunami is ‘Limited’ Credit Suisse Estimates Japan Economic Losses at $171 to $183 Billion Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’ “Unexpected Nature” of Japan Quake Complicates Insured Loss Estimates $35 Billion Japan Quake Cost Estimate Weighs on Insurers AIR’s Japan Quake/Tsunami Insured Loss Estimates: $15 Billion to $35 Billion RSA Appoints East as New Managing Director of Al Ahlia Insurance Kane to Acquire HSBC’s Insurance Management Operations WikiLeaks Cables Show China Regulator Intervened as AIG Crumbled Insurers’ Share Prices Fall on Japan Earthquake News Guy Carpenter Selected as New CCRIF Placing Broker UPDATE-2 Huge Quake Triggered Tsunami Kills 100′s in Japan; Pacific on Alert Lloyd’s Opens New Office in Rotterdam Ratings Roundup: Arab Union, GBG Damage Claims Threaten Munich Re’s 2011 Profit Goal Catlin’s preliminary NZ Quake Loss Estimates app. $125 million XL Estimates NZ Quake Losses at $70 to $85 Million Aon Risk Solutions Beefs Up, Restructures UK Professions Team Hannover Re Posts 2010 Growth as Net Income Tops $1 Billion Aon’s Electronic Media Forum, to Tackle Digital Credit Control Strategies ABI Selects Thoresen as New Director General S&P: EU Ruling on Gender Discrimination Likely to Have a ‘Neutral’ Effect Lloyd’s Tackles Mardi Gras Risks FERMA Calls for ‘Mandatory’ Protocol for Broker/Company Transactions Best’s Special Report Analyzes EU’s Solvency II Impact on Ratings MDS Holdings Launches HERCO Portugal QBE Completes Acquisition of RenRe’s U.S. Insurance Operations Guernsey Banking Director Quick to Succeed Colton as Insurance Director Suspected Colombian Rebels Kidnap 23 Local Oil Workers SCOR Reports 13% 2010 Net Income Gain to $582 Million ING to Repay 70% of Dutch State Aid by May 2011 UN’s FAO Notes Climate Change, Biofuels Threaten Food Security Zurich Promotes Huerlimann to CEO-Global Corporate Taiwan Regulator to Rule on AIG Taiwan Unit Sale By End of First Half Insurance Council of Australia Supports National Disaster Insurance Review London Ship Insurers Add Libya to ‘High-risk’ List Markel International Expands in Spain with Barcelona Office Ratings Recap: Risk Re, Argus Aon Benfield’s Cat Report Highlights NZ Quake, Cyclone Yasi Berkshire Hathaway Enters India Insurance Market Best Places New Zealand’s Civic Assurance Ratings under Review Stempel to Manage New Crawford Office in Panama Best Comments on Impact of Christchurch Earthquake on New Zealand P/C Insurers Markel Appoints James to North American Property Treaty Reinsurance Team Tokio Millennium Re Receives Authorization for Australia Lloyd’s Market Association Issues Statement on Middle East Unrest JLT Sets up Japan Subsidiary Zurich Closes Sale of Unnim in Spain Crawford & Co. Completes Studio Bolton Acquisition Swiss Re Estimates Christchurch Quake Claims at App. $800 Million Climate Change to Drive up Food Prices ABI Describes EU Court’s Ban on Gender Use as ‘Disappointing’ Kiln, Lockton Team Up to Offer Cyber Coverage to UK Retailers Ratings Recap: Eurasia, Energas, Compania Internacional Chang Named Starr Casualty, Greater China Underwriting Manager S&P: Capital Remains ‘Key Rating Consideration’ for Multiline Insurers Zurich Reduces New China Life Stake to 15% QBE Group Posts $1.278 Billion 2010 Net Profit; $1.168 Billion Underwriting Validus Comments on NZ Quake Loss Estimates; Q1 Loss Activity Flagstone Re Estimates $60-$80 Mn in Queensland Losses; NZ Quake in Process EU Court Rules Insurers Cannot Link Risks to Gender International News Archives
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