International News for December 2011 Willis Re Reports Jan. 1 Renewals Focus on Nat Cat Data Report: News Int’l. Ups Fund to Settle Illegal Hacking Claims to $155 Million Breast Implant Scandal Shows Regulators in Dark on Tracking Risks Guy Carpenter Analyzes 2011 Catastrophes; $108 Billion in Losses JLT Subsidiary Acquires Irish Broker FBD Insurance Lloyd’s Highlights Retailers Need for Cyber Fraud Coverage ACE Acquires Ecuador General Insurer Rio Guayas November Storms in Southern Alberta Caused $195 Million Insured Loss Melbourne Storms Declared ‘Catastrophe;’ Full Year Insured Losses = $4.5 Billion Zurich Makes Two Investment Management Executive Appointments Scandinavia Hit Hard by Windstorm Dagmar AIR Reports ABI Seeks ‘Long Term’ Solution, Government Help to Cover UK Floods WTO Risks its Future by Keeping Doha Talks Alive Insurers Worry 2012 Will Top 2011 for Record Weather Disasters General Re Reported Interested in So. Korea’s Tong Yang Life Ratings Recap: Evergreen Re, Asian Re, Toa Re, Meritz Best Affirms Ratings of Sompo Japan and U.S. Subs; Outlook Stable Best Affirms Wind River Re, U.S. Subs Ratings; Outlook Stable Best Affirms NIPPONKOA’s ‘A’ Ratings; Outlook Stable Financial, Legal Woes Dogged Breast Implant Company Everest Re Estimates Thai Flood Losses at $100 to $125 Million Willis Report Highlights P&I Market’s Record Financial Results in 2011 Ratings: Transsib Re, Tokio Marine Pacific, MAPFRE Panama, Union Nationale, Sovereign (NZ), Labuan Re, Tugu, ARIG QBE to Acquire Puerto Rico-based Optima Insurance Group FERMA Confirms Risk Managers’ Concerns with Supply Chain Insurance Best Affirms NIPPONKOA Insurance Company (Asia) Limited’s Ratings Willis President, Global Chairman Millwater to Step Down Spieler to Join Catlin as Group Chief Administrative Officer Best Affirms Beazley and Lloyd’s Syndicates 2623, 623, 3623, 3622 Ratings Best’s Rating Actions Spurred by EU Failure to Produce Debt Crisis Solution Beazley Confirms Interest in Acquiring Hardy Underwriting Tokio Marine to Buy Delphi Financial for $2.7 Billion Insurers May Open ‘Black Box’ Telematics to Escape Gender Ban Best Upgrades Swiss Re’s Ratings to ‘A+’; Outlook Stable Starr Expands Offerings Through Acquisition Ratings Recap: Brit, Ecclesiastical Best Affirms Lloyd’s Syndicate 2001 Ratings; Amlin AG, Amlin plc; Outlook Stable Swiss Re Sees Continued Emerging Market Growth; Profitability Squeeze AIR Analyzes Tropical Storm Washi’s Impact on Philippine’s Mindanao Storm Joachim Hits Northern Europe; AIR Sees No ‘Significant’ Losses IAG’s Malaysian Associate, AmG, Seeks to Acquire KurniaIAG Best Affirms Ratings of Inter Hannover UK; Outlook Positive Cat Assessment Firm PERILS Expands Coverage to Include UK Flood Risks Russian Oil Rig Sinks; More than 50 Feared Dead Best Places MAPFRE PRAICO Group’s Ratings on Review/Negative Flash Floods Kill More Than 530 in Philippines WTO approves Russia’s Membership after Marathon Meeting Ratings Recap: Aviva Canada, IRB-Brasil Best Affirms Aviva’s Ratings; Places them on Review/Negative Chevron Lawsuit Flags Brazil Investment Risks SCOR Estimates Thai Flood Losses at $185 Million Insurance Australia Group to Acquire New Zealand Insurer AMI IMF’s Lagarde Warns No Country is Immune from Rising Risk Best Downgrades Generali, Main Subs Ratings; Keeps on Review/Negative Best Downgrades MAPFRE RE’s Ratings; Placed on Review/Negative Best Places Ratings of Caisse Centrale de Reassurance on Review/Negative Liberty Mutual’s Guangdong Branch Opens for Business Best Downgrades Allianz and Subs Issuer Credit Ratings; Affirms FSR Swiss Re Estimates 2011 Economic Cat Loss at $350 Bn; Insured Loss $108 Bn Europe’s Austerity Zeal Risks Killing the Patient Regulatory Investigations Top Directors’ List of Concerns: Willis/Overy Survey Best Affirms West of England Ship Owners ‘A-’ Ratings; Outlook Negative Munich Re Describes Climate Conference Results as ‘Disappointing’ Willis Launches Global Insurance Placement Tool Hub International Enters Latin American Market with Harmonia Tie-up S&P Sees ‘Highs and Lows’ for Canadian P/C Insurers Ratings Roundup: BEST Re, BCRe, TUCI India’s Private Insurance Market Keeps Growing – Slowly but Surely Canada Pulls Out of Kyoto Climate Change Protocol; First Country To Do So Charman to Retire as AXIS CEO, President; Benchimol Chosen as Successor Navigators Launches International Defense Costs Coverage Northern UK, Scotland Battered by Windstorm Friedhelm: AIR Analysis Lippe to Step Down as Swiss Re CEO Willis Group Acquires Italian Broker New U.N. Climate Deal Struck; Critics Say Gains Modest Best Reports on Bermuda’s Challenges; Torus’ O’Donohoe Comments on Diminished Role Liberty Syndicates Name Sprent to Head Global Financial Risks India’s Reliance Capital Eyes General Insurance Stake Sale w/in 6 Months S&P Puts Allianz, Aviva, AXA, Generali, Mapfre Units, 10 Other EU Insurers on CreditWatch/Negative IRCM Creates New Marine Facility UK Insurance Association: Solvency II May Help or Hinder EU Growth Willis: Power Market Review – Still No Hard Market, Despite Losses Europe Moves Ahead with Fiscal Union; UK Isolated Willis Re Spots Downward Trend UK Auto Claims; Premium Increases Aon Benfield Report Analyzes Financial Impact of Catastrophes on Reinsurers Munich Re Estimates Thai Flood Claims around $670 Million AXA, Generali Said to Advance in HSBC General Insurance Sale Ratings Recap: China Taiping (NZ), Ansvar (NZ), Nationale Suisse Lloyd’s Report Finds Customer Loss, Staff Shortages as Business’ Top Fears Latest Analysis Concludes Foreign Insurers Missing Out on China Party Chinese Court Rejects Apple Lawsuit over iPad Name Aon Benfield Monthly Cat Report: Thai, Europe Floods Costly for Insurers Natural Disaster in China Would Severely Disrupt Global Supply Chains Starr Sets up Global Casualty Practice Swiss Re sigma Report Highlights Progress in P/C Product Innovation Swiss Re Estimates Thai Flood Claims at $600 million; Subject to Uncertainty RSA Names Slingsby Global Program Director-Global Specialty Lines Panel Urges Legal Action in Damning Report on Japan’s Olympus Fleet of Ferraris Ruined in Japan Sportscar Pileup Zurich Backs Global Trade Finance Program Expansion Torus Acquires Renewals of C.V. Starr for Continental Europe; Interview with Int’l. CEO O’Donohoe Best Affirms Ratings of Aioi Nissay Dowa Insurance (China) Parker Named to Head P/C Specialty at Aon’s Global Brokerage Center Sciemus Appoints Former Aon Exec Mahoney as Chairman DUAL Corporate Risks Adds More D&O Capacity from Aspen, Pembroke Willis Strengthens So. Africa Role with Pickering Appointment Bank of India to Buy 51% of Bharti AXA Asset Manager Aon Benfield Reports China Reinsurance Premiums up 70% since 2005 DUAL Starts Specialty Reinsurance Business Stormy Sun Could Knock Out Power Grids: Allianz Dallamore Joins Howden as Consultant in Asia Swiss Re Economists See Weak Growth; Some Market Hardening; EU Peril India’s Insurance Regulator Issues IPO Guidelines Russian Aviation Safety Facing Criticism After Hockey Team Crash Allied World to Write Reinsurance in Malayasia International News Archives
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