Argentina News

Floods Force Mass Evacuations in Paraguay, Argentina, Uruguay, Brazil

Widespread floods have forced nearly 140,000 people from their homes in Paraguay, Argentina, Uruguay and Brazil following days of torrential rains that drenched a region where the countries border each other. Paraguay is the hardest hit with at least 100,000 …

Argentina Regulator Says Insurers’ Dollar Assets Cannot Exceed Liabilities

Argentina’s insurance regulator changed the rules governing the amount of foreign currency holdings the companies can keep, which could prompt the firms to sell assets to meet a year-end deadline. Insurance companies must adjust their foreign-currency security holdings to match …

QBE Completes Sale of Argentine Workers’ Compensation Business

QBE announced it has completed of the sale of the group’s workers’ compensation business in Argentina to La Caja Aseguradora de Riesgos de Trabajo ART SA, a company wholly owned by the Werthein Group, which has had a significant presence …

Fitch Downgrades Argentine Insurers Ratings after Sovereign Downgrade

Fitch Ratings has downgraded the long-term National Scale ratings of 12 insurance companies in Argentina, and has also revised the companies’ rating outlooks to negative from stable. Fitch said it took the rating actions following its Nov. 27 downgrade of …

Euler Hermes and MAPFRE Form ‘Solunion’; a New Credit Insurance Venture

Euler Hermes and MAPFRE jointly announced the launch of “Solunion”- the brand name of their new credit insurance joint venture in Spain and four Latin American countries. Each partner owns 50 percent of the company, which is set to launch …

S&P Revises Argentina’s Sovereign Debt Rating Outlook to Negative

Standard & Poor’s revised its outlook on Argentina’s sovereign debt rating to negative from stable on Monday, citing policies that include a government push to seize control of energy company YPF from Spain’s Repsol. President Cristina Fernandez announced the YPF …

Willis Appoints Peller as Argentina CEO

Willis Group Holdings has announced the appointment of Seth Peller as CEO of Willis Argentina S.A., effective immediately. He is based in Willis’ Buenos Aires office, and takes over the leadership of one of Argentina’s largest insurance brokers. Willis has …

Droughts, Floods, Snow and Cold Hit Global Commodities

Droughts and deluges in Australia, snow in Europe and cold snaps in the United States are pushing up prices of a range of commodities from sugar to heating oil and soybeans. Australia typically ranks as second in the league of …

WTO Head Warns Stimulus Measures May Have Impact on Trade

Stimulus and bailout packages undertaken to cope with the economic crisis can have an impact on trade and investment and need to be managed carefully, according to the head of the World Trade Organization. Director-General Pascal Lamy said the WTO …

New BP CEO Dudley: Gulf Disaster a ‘Wake Up’ Call to Prioritize Safety

BP Plc’s newly named chief executive Tuesday called the Gulf oil spill a “wake-up call” for the entire industry as the company tallied up its losses and disclosed two U.S. investigations. Bob Dudley, who will replace gaffe-prone Tony Hayward as …