Pakistan News

Ward Named to Head New ACE Eurasia & Africa Business Region

The ACE Group announced that it has established a new business region, Eurasia & Africa, as part of its Overseas General division – the general insurance operations of the company outside North America. Regional headquarters is to be based initially …

Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses

Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most costly occurred during a six-day …

Aon Benfield Reports Asia Monsoon Economic Losses near $7 Billion

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during September. Published by Impact Forecasting, the firm’s …

RMS Expert Explains Role of ‘Social Network’ in Tracking Down Bin Laden

The arcane world of spies, informers, terrorists and the people who have to deal with them remains largely a mystery to most ordinary citizens. But when those efforts produce spectacular results, as in the tracking down and killing of Osama …

World on Alert after U.S. Kills bin Laden

Osama bin Laden was killed in a U.S. assault on his Pakistani compound Monday. He was then quickly buried at sea, in a dramatic end to the long manhunt for the al Qaeda leader who had become the most powerful …

FACTBOX: 25 Ships and Crews Still Held by Somali Pirates

Somali pirates have released the Marida Marguerite, a German-operated chemical tanker after receiving a $5.5 million ransom, the Kenya-based East African Seafarers Assistance Program said on Tuesday. The tanker was seized in May and released on Monday. Here are details …

Aon Benfield Releases Annual Cat Report; Insured Losses at $38 Billion

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has released its Annual Global Climate and Catastrophe Report, which reviews the natural disaster perils that occurred worldwide during 2010. The survey is published by Impact Forecasting, Aon …

An Analysis on Climate Talks: 18 Years, too Little Action?

“I was born in 1992. You have been negotiating all my life. You cannot tell us that you need more time,” Christina Ora of the Solomon Islands complained to delegates at U.N. talks on fixing global warming. Her line from …

Catastrophes Cost World $222 Billion in 2010: Swiss Re

According to initial estimates from Swiss Re’s sigma research team, worldwide economic losses from natural catastrophes and man-made disasters totaled $222 billion in 2010; more than triple the 2009 figure of $63 billion. The cost to the global insurance industry …

Aon Warns Re/insurers of Heightened Rating Agency Scrutiny in Asia

Aon Benfield announced that it is “advising re/insurers that rating agencies are likely to increase their scrutiny of catastrophe risk in Asia and that many companies will have to make substantial investments to address this.” The bulletin noted that the …