Philippines market News

Guy Carpenter Launches Probabilistic Philippines Flood Model

Guy Carpenter & Co., the reinsurance broker and subsidiary of Marsh & McLennan Cos., announced the launch of a new Philippines Flood Model. The probabilistic model provides countrywide coverage and enables insurers to assess flood exposure, one of the most …

Philippines Taps Catastrophe Bonds to Help Pay for Natural Disasters

The Philippines, among the world’s most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank. The dual-tranche transaction consists of a $150 million issuance against losses from tropical …

Philippine Flooding Kills at Least 6, Displaces Many Thousands

At least six people died and tens of thousands fled their homes as monsoon rain triggered flooding in the Philippine capital and nearby areas, reminiscent of the deadly Typhoon Ketsana nine years ago. About 1.1 million people have been affected …

Starr Int’l Insurance Philippines Branch Names Ex-Ambassador Cuisia as Chairman

Starr Cos. announced the appointment of Ambassador Jose L. Cuisia Jr. as chairman of Starr International Insurance Philippines Branch, a branch of Starr International Insurance (Asia) Ltd., a company established and licensed to write general insurance in Hong Kong. Cuisia …