The European Union will ban three of the world’s most widely-used pesticides for two years because of fears they are linked to a plunge in the population of bees critical to the production of crops. The executive European Commission said …
Two Western retailers have promised to compensate families of garment workers killed while making their clothes in a Bangladesh factory building that collapsed last week in the country’s worst industrial accident. The pledge from Britain’s Primark and Canada’s Loblaw came …
ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to support ACE Tempest Re’s global property catastrophe reinsurance portfolio. Altair Re gives …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a+” of AGA International SA (AGAI SA), which is headquartered in France and operates a subsidiary, Jefferson Insurance Company, …
An Indian Parliament deadlocked yet again over corruption scandals threatens Finance Minister P. Chidambaram’s ambitious reform agenda, dealing a harsh dose of political reality on the heels of his North American roadshow to sell the India story. Two long-stalled reforms …
There is huge potential for re/insurance growth in Turkey, according to Namik Gulsun, Executive Director, EMENA at facultative and wholesale broker, Faber Global, a trading division of Willis Group Holdings. While much of Europe remains mired in economic crisis, Turkey …
INTTRA, a global multi-carrier shipping network for ocean freight, has launched a new member service that enables shippers to purchase cargo insurance from marine insurance specialist, FP Marine Risks, via INTTRA’s e-commerce platform. INTTRA members can elect to purchase cargo …
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the first quarter of 2013 of $303 million, or $2.55 per diluted common share, compared with $122 million, or $0.96 per diluted common share, for the first …
“Roundup the usual suspects;” here we go again. No, it’s not an unsolved murder in wartime Casablanca, simply the latest skirmish in the ongoing dispute over whether companies that write reinsurance in the U.S. market are using tax havens to …
Bermuda-based Montpelier Re Holdings Ltd. reported comprehensive net income for the first quarter ended March 31, 2013 of $91.9 million, compared to $110.8 million in the same period of 2012. The report said: “Fully converted book value per common share …
