International News for May 2010 UK’s Prudential Confirms AIA Deal Still On Breedon to be Next ABI Chairman Lloyd’s Market Association Appoints Hurst-Bannister as Chairman Ratings Recap: Montpelier Re, CCR Algeria Canada Prohibits Insurance Sales on Bank Web Sites Pru In Talks to Lower Price for AIG’s Asian Unit, AIA Saft: Lessons for U.S., UK from Japan’s Lost Decade Pickering to Head Willis Russia, E. Europe, M.East, So. Africa Operations More Analysts Warn on Prudential’s $35.5 Billion Deal for AIA World Warms, But Public Cools to Action on Climate Change Best Affirms Ironshore’s ‘A-’ Ratings; Outlook Stable Markel International Launches New Trade Credit Division at Lloyd’s U.S. Hurricane Center Director Says Haiti is ‘Biggest Concern’ Lloyd’s Estimates Chile Quake Loss at $1.4 Billion; Oil Spill $300 to $600 Million Intermap Technologies, JBA Consulting Provide European Flood Maps Ratings Recap: Hatherley, Attorneys Liability U.S. Trade Chief Urges China to Lower Barriers Tropical Storm Risk Forecasts Active 2010 Hurricane Season James to Succeed Byrne as Flagstone Re Board Chairman Insurers Gain Access to Detailed UK Ordnance Survey Maps Hunt for Clues after India Plane Crash Kills 158; 8 Survive Investors Still Hope for India Fiscal Reform after Mixed Year Report: AIG to Revisit Float Plan if Prudential AIA Bid Fails Concern over China’s Protectionism at 10 Year High Says U.S. Chamber S&P Affirms Hannover Re’s ‘AA-’ Ratings; Outlook Revised to ‘Stable’ Former PM to Head Ireland’s International Financial Services Center CATEX, UK’s TriSystems Team up to Create ‘End-to-End’ Processing Willis’ Plumeri Urges UK Government to Spur Insurance Industry Growth RenRe Expands Executive Committee Munich Re Securitizes $80 Million for Europe Windstorm, U.S. Hurricanes EU Faces a Battle in Achieving Closer Economic Union GAB Robins Launches Broker Services at BIBA 2010 Aon Benfield Broadens Academic, Industry Research Collaboration Bowring Marsh Opens Tokyo Office Best Affirms Platinum’s ‘A’ Ratings CCIR Commends EU for Opposing US Reinsurance Proposals Miller Adds Two Global Facultative Reinsurance Specialists ACE Launches New Multi-line Products to Drive UK, Ireland Growth Ratings Recap: Ageas (ex-Fortis), Island Heritage, New Century Lloyd’s CEO Calls for ‘Underwriting Discipline’ In Face of a ‘Tough Year’ Lloyd’s China Granted Direct Insurance License Flagstone Re Completes Redomicile Move to Luxembourg Volcker Says Europe Committed to Common Currency RMS Announces New Parametric Loss Index for Japan Quake Risks Airline Industry Group Blasts Europe’s Handling of Volcanic Ash Bermuda Signs Tax Accord with Italy Swiss Re Offers Risk Managers Solvency II Advice for a ‘Post-crisis World’ Marsh Stresses Importance of ‘High Quality Risk Information’ Presentations ECB’s Plan to Buy Bonds Risks Making it Europe’s ‘Bad Bank’ ING’s Good Results Reduce Pressure to Sell Insurance Arm UK’s Prudential Prices $21 Billion Cash Call; Woos Investors Sources Indicate U.N. to Pick Costa Rica’s Figueres as New Climate Chief Volcanic Ash Grounds European Flights Marsh: Ash Clouds, Strikes Increasing Demand for “Non-physical’ Coverage Zurich Announces Restructured Senior Management Appointments Best Affirms Lloyd’s Syndicate 1225 (AEGIS) ‘A’ Rating; Stable Outlook Willis Funds New Professorship for Climate, Weather Risk Insurance Ratings Roundup: International General, Civic Assurance (NZ) S&P Affirms Alterra’s Ratings Following Max Cap, Harbor Point Merger Report: UK’s Prudential to Outline Asia Asset Sales to Fund AIA Buy Report: National Australia Bank to Sell Assets for $13 Billion AXA Deal Barbados Meeting Analyzes Caribbean Climate Adaptation Study Volcker Worries about Euro’s Future Libyan Jet Crash Kills 103; Dutch Boy Sole Survivor Life products, Asset Mgmt. Buoy Allianz, Generali, Aegon, Ageas in Q1 Marsh Names Denney as ‘Networks Leader;’ Mills for Networks Service Max Capital, Harbor Point Merged to Create Alterra Capital Best Upgrades Alterra Capital and Subs Ratings to ‘A’ Report: Goldman Sachs Nears Deal for AXA’s $1 Billion Taikang Stake Montupet Elected as New PartnerRe Board Chairman Tardy Greek Debt Bailout Spreads Financial Crisis beyond Europe Somali Pirates Seize Greek-owned Ship in Gulf of Aden Willis Research Warns of Costly Consequences of Volcanic Eruptions Allied World Joins with Security Firm for K&R Coverage Bermuda Signs Tax Accord with Portugal RMS Licenses Cat Modeling Software Programs to China Re Best Report Forecasts More Mutual Partnerships as Challenges Mount Europe’s Travel Firms Count Costs of Volcanic Ash Disruptions Ironshore Places $250 Million in Notes ‘Shock and Awe’ Halts Euro Market Slide – for Now ABI Advises Travelers After Latest Volcano Ash Cloud Disrupts Flights (Re)Insurers Take on $5 Billion Risk with Soccer World Cup Coverage Munich Re Posts $633 Million Q1 Profit Despite Nat Cat Losses Flagstone Re Q1 Operating Income Down 61.4% to $12.1 Million PartnerRe Reports Q1 Operating Loss; Net Income $79.7 Million UK’s Conservatives Appear Short of Majority; Hung Parliament Looms Russia Releases Captured Tanker Pirates Zurich’s Q1 Operating Profit up 19% to $1.3 Billion; Net Income $935 Million Argo Posts $20.7 Million Q1 Net Income; Operating Down at $12.2 Million Searchers Locate Area of ‘Black Boxes’ from Air France Flight 447 Crash Marsh Finds Europe’s Financials Buying Less Insurance to Save Costs Platinum Appoints Decleir CFO; Increases Share Repurchase Program Ratings Roundup: Amlin, United Barbados Swiss Re Posts $158 Million Q1 Net Income, Despite Natural Catastrophes Germany’s Merkel, IMF Head Warn of ‘Contagion’ in Euro Zone Crisis UK’s Prudential Delays Share Sale; Hits Regulatory Snag XL Capital Posts $128 Million Q1 Net Income; $150 Million Operating Max Capital Posts $36.4 Million Q1 Net Income; $40.7 Million Operating Air France Extends Flight 447 Crash Site Search in Atlantic Hannover Re Reports $203.4 Q1 Net Income, Despite ‘Major Losses’ UK’s Amlin to Establish European Reinsurance Company in Switzerland Somali Pirates Hijack China-bound Oil Tanker off of Yemen Volcanic Ash Cloud Again Grounds Flights in Scotland and Ireland Volcanic Ash Closes Irish, UK Airports; Summer Chaos Feared Best Affirms ACE and Subs Ratings; Outlook on Debt Changed to Positive Aon Consulting Appoints Chaudhari, Connell to Global Leadership Posts Torus Acquires Glacier Insurance PartnerRe Announces Retirement of President and CEO Patrick Thiele Ratings Recap: Torus, QBE (debt) EU, IMF Agree on $147 Billion Greece Bailout; PM Warns of ‘Sacrifices’ XL Shareholders Approve ‘Redomestication’ Move to Ireland Fairfax Financial’s Watsa Sees ‘Short-term Uncertainty, ‘Ultimate ‘Rewards’ Buffett to Visit India, Won’t Rule Out Insurance Investment International News Archives
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