International News for August 2011 Marsh Acquires Brokerage Business of Africa’s Alexander Forbes Report Says Asia to Add 1.66 Million Millionaires by 2015 Irene Losses Won’t Trigger Policy Payouts – CCRIF Swiss Re Sigma Study Examines Government/Private Sector Coverage Ratings Roundup: MS Frontier, Abu Dhabi National Swiss Re Analyzes Effects of Economic Crisis on Nordic Insurance Market Travelers Promotes Lloyd’s Syndicate 5000 Underwriters Typhoon Nanmadol Departs Taiwan, Heads for China Tropical Storm Katia Forms in Eastern Atlantic Willis Develops Coverage for Nuclear Exclusion Risk P/C Industry ‘Adequately Capitalized’ Says Best, Despite Irene Losses AIR Estimates Irene Insured Caribbean Losses at $500 Million to $1.1 Billion Swiss Re Applies for Local Reinsurance Registration in Brazil 8 Dead as Typhoon Nanmadol Slams Northern Philippines Forecasters Track Additional Storms Best Affirms China Re and Subs ‘A’ Ratings; Outlook Stable UK Travel Insurer Columbus Direct Expands into German Market Willis Acquires Polish Broker to Expand Employee Benefits, Construction Irene Causes Extensive Property Damage on Smaller Islands in the Bahamas Bermuda’s Catalina Holdings to Acquire Residential Loss Control Holdings ACE Expands Environmental Team in London Willis, ACE Team-up for First ‘e-Accounting’ Processing in London Market Profits Soar at Australia’s IAG, but Outlook Hits Shares Caribbean Countries form Partnership to Develop Climate Change Strategies Recap of Forecasts for 2011 Atlantic Hurricane Season Australia’s Suncorp Profit Falls 42%; Hints at Capital Return ConocoPhillips Evaluating China Oil Spill Impact Official Says Germany Wants Armed Guards on Europe Ships Ratings Roundup: Continental Re, African Re UK’s Collinson Appoints Scott Wholesale Sales and Strategy Director Insurers Contribute over $17 Billion to UK Economy ACE Expands Terrorism, Political Violence Team; Biggas is New Underwriter U.N. Nuclear Chief Sees Added Safety Costs As Manageable Pirates Attack 2nd Tanker in 2 Days near Omani Port London’s Marine Insurers Say Libya to Stay on ‘High Risk’ List Electronic Endorsements Success Spreads across London Market S&P Revises Outlook on AEGON to Stable; Affirms Ratings Giggins Joins Miller’s Hong Kong Office for Asian Financial Risks Lancashire’s Shareholders Approve UK Tax Move Plan; Share Increase MMA Insurance UK Expands Commercial Auto Coverage Hurricane Irene – 1st of the Season – Could Hit Miami Aruba Police Probe Insurance Link in Missing Tourist Case Chinese Insurer Ping An Posts 33% Rise in 1st Half Profits XL Insurance Names Hookings as Australian Environmental Underwriter QBE 1st Half Net Profits up 53% to US$673 Million Best Affirms Oman’s National Life & General Ins. Co. SAOC Ratings Lloyd’s Marks 100th Anniversary of 1911 Act Bermuda Association Lauds Government Progress on Solvency II ‘Equivalence’ Travel Insurers Pay $7 Million a Week to Stricken UK Travelers Says ABI Lloyd’s Levene, Marsh’s Duperreault Assess Insurance Industry Sarkozy, Merkel Push Euro Integration; No Joint Bonds China to Expand Investment Options for Overseas Yuan Holdings Legal & Professional Insurance, Marsh to Offer Small Firm Professional Indemnity Big Insurers May Escape Capital Surcharges Under Global Regulations UK’s Legal & Professional Ins. in Deal with Marsh for Small Firm Coverage Sarkozy & Merkel Face ‘Stark Choice’ in Euro Zone Talks Insurance Australia Group to Acquire Stake in China’s Bohai Insurance Shell North Sea Pipeline Leak – ‘Substantial’ EQECAT Models $260 Mn Windstorm Risk Cat Bond for French Nat’l Power Co. Tokio Marine to Acquire All of Hawaii’s First Insurance for $165 Million Tropical Storm Gert Strengthens, Will Brush Bermuda Ratings: Sunderland, Citadel Re, Alliance (Dubai), Oman Ins., SCRe (Morocco) UK Insurers Welcome PM’s Pledge on Compensation Scheme Best Affirms Infrassure’s ‘A-’ Ratings; Outlook Stable Chinese Bullet Train Maker Halts Some Production Mitsui Sumitomo Appoints McDermott Syndicate 3210 Active Underwriter Event Cancellation Coverage for UK Riots Rarely Applicable ABI Assures UK Business Owners of Insurance Coverage for Riot Losses Aon Benfield Sponsors Updated Atlas of Natural Disaster Risk in China Sources Say New China Life Files for up to $4 Billion IPO NMS Report Highlights Continued Somali Piracy; New Threat in Gulf of Guinea Flagstone Realigns Management; Prestia Named CEO Flagstone U.S Sony Says London Warehouse Fire May Affect UK Deliveries SCOR Finalizes Acquisition of Transamerica Re Cooper Gay Swett & Crawford Appoints Kruger as First Group CIO ABI Explains UK Riot Coverage; Damages Estimated to Exceed $162 Million Britain Burns: Riots Spread through UK Cities UK’s Sportscover Snares Badminton Tournament Coverage ABI Reacts to London Riots; Details of Insurance Coverage Lloyd’s: Drought Caused Subsidence Costliest Natural Hazard in Parts of Europe Marine Insurers Add Benin to Risk List after Attacks Guiry to Succeed Doubtfire as Marketform CFO S&P Revises Outlook on Platinum to Negative; Affirms Ratings Best Revises Alterra, Operating Subs Outlook to Negative; Affirms Ratings Hannover Re Posts $313 Million Net Income for 1st Half 2011 European Insurers’ Greek Hit Fuels Debt Concerns Shell Faces First Nigerian Oil Spill Claims in UK Despite Q2 Profits Munich Re Posts $297 Million 1st Half Loss Typhoon Muifa Drops Heavy Rains on Philippines; Moving to China Tropical Storm Emily Breaks up over Haiti; Still Threatens Rains Aon Benfield Monthly Report Highlights Increased Global Storm Activity Insurers Prop up European Shares Ahead of ECB News Conference Tropical Storm Emily on Path toward Haiti ING Wavers on Insurance IPO Plan Catlin Hit by $201 Million Net Loss for 1st 6 Months Lee to Succeed Haste as RSA Group Chief Executive Raids by Cyber Thieves Are Unlikely to Stir Faster Global Action CCRIF Builds Regional Capacity for Storm Impact Forecasting UK’s ABI Details Increase in Fraudulent Claims – $29 Million per Week Swiss Re Posts $960 Million Q2 Net Income; Combined Ratio 78.4% Ratings: Gulf Re, Heddington, Cooperativa Seguros, Contractors Bonding (NZ) Wafer to Replace Berger as Alterra’s Reinsurance CEO Second Quarter Earnings Reports: PartnerRe Willis’ Leisure Industry Report Highlights Vulnerability to Cyber Attacks Maritime Intelligence Service Offers Advice on Armed Guards on Ships Tropical Storm Emily Heading for Puerto Rico, Hispaniola When Rating Agencies Judge the World – an Analysis China Mulls Creation of New Regulator for State Financial Sector Insurers Interested in ING European, Asian Units Validus Urges Transatlantic Talk About Takeover Offer International News Archives
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