Mauritius News

Ratings Recap: Fuji Fire, Munich Re (Mauritius), Ballantyne Re

A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of The Fuji Fire & Marine Insurance Company, Limited. Best has also placed the …

S&P Rates Munich Re Mauritius ‘BBB’

Standard & Poor’s Ratings Services announced that it has assigned its “BBB” long-term counterparty credit and insurer financial strength ratings to Munich Mauritius Reinsurance Co. Ltd. (Munich Re Mauritius) with a stable outlook. “Munich Re Mauritius is a Mauritius-based composite …

Willis Group to Add S. African Broker

Willis Group Holdings has agreed to acquire the business and assets of Reinsurance Consultants and Intermediaries Ltd. (RCI), the reinsurance division of South African insurance broker Glenrand M.I.B. Limited (JSE:GMIB). As part of the transaction, Willis will also acquire GMIB’s …

Chicago Exec Convicted in Arson Scheme

A federal jury ruled last month that former commodities firm executive Marc E. Thompson set his home ablaze and burned his elderly mother alive to collect insurance money that he later hid during bankruptcy proceedings, reported the Chicago Tribune. Thompson, …

Chicago Exec Convicted in Arson Scheme

A federal jury ruled last month that former commodities firm executive Marc E. Thompson set his home ablaze and burned his elderly mother alive to collect insurance money that he later hid during bankruptcy proceedings, reported the Chicago Tribune. Thompson, …

Chicago Executive Convicted in Home Insurance Scheme

Former commodities firm executive Marc E. Thompson set his home ablaze and burned his elderly mother alive to collect insurance money that he later hid during bankruptcy proceedings, a federal jury ruled late last week. Thompson, 53, faces 115 years …

Zurich Sells 10% Stake in S.A. Eagle to Support Black Economic Empowerment in South Africa

Zurich Financial Services Group announced that it has signed an agreement to sell a 10 percent stake of South African Eagle Insurance Company Limited (SA Eagle), a majority-owned subsidiary, to Royal Bafokeng Finance (RBF), a company wholly-owned by the Royal …

Under OECD Pressure Bermuda, Others To End “Tax Haven” Practices

In an apparent attempt to head off the consequences of a soon to be issued report 6 countries – Bermuda, the Cayman Islands, Cyprus, Malta, Mauritius and San Marino (a tiny enclave within Italy-not the city in California) – Have …