International News for December 2012 Ratings Roundup: Peak Re, Lakeside Re III Ltd Willis Re Sees No Rate Increases for Jan. 1 Renewals despite Sandy Impact Lloyd’s: Increasing Civil Unrest Driving Political Violence Coverage Demand Events that Topped World Insurance News in 2012 Zurich Transfers Eagle Star to RiverStone; Irish Banking Business to Dunbar Worst of Euro Crisis is Over, German Finance Minister Schaeuble Says Commentary: UBS and Too-Big-to-Punish – James Saft Any Prospects for Insurance Regulatory Changes in 2013? Plane Crash-Lands on Myanmar Road, 3 Killed Ratings Recap: Echelon, Nationale Suisse, MAPFRE Global Risks/Empresas UK’s Met Office Sees 2013 as Likely to be One of Warmest on Record S&P Sees No Change for Willis’ Ratings from Goodwill and Remuneration Changes New Zealand Trade Minister Groser Bids to Replace Lamy at WTO Argo Group Estimates Preliminary Sandy Losses between $45 – $55 Million Best Removes Flagstone Re from Review; Affirms Ratings Ratings: Aviva (Subs), Flagstone Re Africa, Arig, Salama, Bahrain Nat’l., BEST RE Best Affirms UK’s Ecclesiastical Insurance Office ’A’ Rating; Outlook Stable Sandy Loss Estimates: Lancashire – $40 to $60 Mn; Maiden Holdings – $25 to $35 Mn Sandy Losses: Arch Capital – $170 to $240 Million; PartnerRe – $200 to $240 Million RSA Announces Sale of Dutch Caribbean Operation Australian Court Rules Workers’ Comp Covers Sex Mishap AXIS Capital Announces New $750 Million Share Repurchase W. R. Berkley Names Steen President of Berkley Canada PartnerRe to Acquire Calif.-based Presidio Re Group Cooper Gay Targets Treaty Business in Asia with Yip Appointment UBS Admits Fraud in Libor Rigging Scheme; To Pay $1.5 Billion Fine Swiss Re Estimates 2012 Economic Losses at $140 Billion; $65 Billion Insured Latest Sandy-Loss Estimates From Axis Capital, Platinum, Beazley IIF Report Concludes Capital Curbs on Insurers Will Add to Government Burden Talbot Appoints Schild as New Political Risk Underwriter Zurich Estimates Sandy Losses at $700 Million; $40 Million for Farmers Re Catlin Estimates Storm Losses from Sandy at around $200 Million Dirty Money Costs Developing World $6 Trillion, Led by China -GFI Report Ratings Recap: Jordan Plc, Builders Re S.A., Sava Re, Allianz (Notes) Geneva Association’s Response to IAIS Policy Report Urges Caution Best Special Report Focuses on Asia-Pacific Insurers Cat Loss Challenges Best Upgrades W.R. Berkley Insurance (Europe) ICR Rating; Affirms ‘A’ FSR Willis Launches New Insurance Facility for Offshore Decommissioning Risks AIG May Raise up to $6.5 Billion through AIA Share Sale – Sources HCC Global Financial Products to Offer Kidnap & Ransom Insurance Best Upgrades Issuer Credit Rating of Hiscox Group Subsidiaries; Affirms FSR S&P Rates Aon plc. Note Exchanges ‘BBB+’; Outlook Stable Best Affirms Russian Re’s ‘B+’ Ratings; Outlook Stable Hiscox Appoints Keith for Bermuda Healthcare Team London ‘City’ Scents Victory in EU Banking Union Deal IATA Reports World’s Airlines on Track for Safest Year Insurance Australia Group Selling All UK Operations Ratings Recap: Transsib Re, First General, Arab Re, TUCI P&I Club Renewals Face ‘Perfect Storm,’ Says Willis’ Report Lloyd’s, JLT to Cover Unprecedented Antarctic Winter Crossing XL’s Preliminary Loss Estimate for Hurricane Sandy around $350 Million Munich Re Announces Pischetsrieder to Replace Schinzler as Board Chairman Europe Deepens Union with ECB as Chief Bank Watchdog Aon Partners with Space Expedition Corp. for Space Traveler Coverage Munich Re in Performance Guarantee Deal with China’s Yingli Green Energy U.S. SEC Charges N.J.-based Consultant with Fraud in Chinese Reverse Mergers U.S. Trade Rep Optimistic Trans-Pacific Talks Can Finish in 2013 ACE Puts Preliminary Estimates of Sandy Losses at $380 Million James to Step Down as CEO of Lockton International Swiss Re Study Sees Economy Improving in 2013; Casualty Lines Recover Poor Nations to Seek UN Climate Change Compensation Payments in 2013 S&P Says Reinsurers Faced Unexpected Risks from Hurricane Sandy HSBC to Pay Record $1.9 Billion U.S. Fine to Settle Money Laundering Case Geneva Association Analysis Compares 28 Banks’, Insurers’ Systemic Risk Despair after Climate Conference Inaction, but UN Still Offers Hope UPDATE: Chinese Group to Buy AIG’s Plane Leasing Unit for up to $4.8 Billion Storm that Killed 600 Turns to Threaten Philippines Again XL Appoints Wenzel as Senior Vice President, Capital Markets China Arbitrators Rule Against Injured Foxconn Worker Chinese Firms in Talks to Buy AIG Aircraft Leasing Unit Aon Benfield’s Monthly Cat Report Highlights UK Floods US Senate OK’s Russia Trade w/ Human Rights Bill; Angry Russian Reaction UPDATE: 7.3 Quake off Japan; Tsunami Warnings Cancelled Ratings Recap: Grain, Chartis (Europe), Boubyan Takaful APC Underwriting Agency Expands into Continental Europe with Holland Office Nicholls Joins Miller to Bolster Downstream Energy Team UPDATE: Death Toll from Philippine Typhoon Bopha Passes 270 Travelers Increases Stake in Brazil’s J. Malucelli Joint Venture Montpelier Re Launches Blue Capital – Investors’ Asset Management Platform AIR Worldwide’s Analysis of Typhoon Bopha’s Impact on the Philippines Thai Group Buys Ping An Stake from HSBC for $9.38 Billion Transparency International Releases Latest Global Corruption Index Philippines’ Biggest Typhoon Kills at least 230; Hundreds More Missing Extreme Weather is New Normal, U.N.’s Ban Tells Climate Change Talks Thousands Flee as Typhoon Bopha Blows into Philippines Best’s Report on Bermuda Re/Insurers Sees over 10% ROE for 2012 Highway Ceiling Collapse in Japan Kills 9 Willis International Announces European Leadership Appointments Munich Re First to Offer Offshore Wind Energy Serial Loss Coverage FERMA Opposes EU Fund for Industrial Accident Environmental Liabilities, Losses Best Affirms Munich Re and Subs ‘A+’ Ratings; Outlook Stable Fitch Downgrades Argentine Insurers Ratings after Sovereign Downgrade Bermuda Re/Insurance Org. Elects XL’s McGavick CEO, Currie, Catlin as Deputies International News Archives
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