Checks on a Japanese oil tanker, damaged by a mystery explosion near the Strait of Hormuz oil shipping route, found a soot-like substance in a large dent in its hull, the Transport Ministry in Tokyo said on Wednesday. (See IJ …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the UK-based Sunderland Marine Mutual Insurance Company Limited (SMMI), both with stable outlooks. Best said it anticipates an improvement in SMMI’s …
A Japanese supertanker, which triggered fears of an attack in the sensitive Strait of Hormuz oil shipping route, collided with something, possibly a submarine or mine, UAE port officials inspecting the ship said on Thursday. Damage to the massive crude …
A Japanese oil tanker damaged by a freak wave in the Strait of Hormuz, one of the world’s most important shipping lanes, was making its way to a port in the United Arab Emirates on Wednesday. The ship’s owners reported …
The top U.S. trade official expressed doubt Tuesday that negotiators could reach a deal this year in long-running world trade talks despite a goal set by President Barack Obama and other leaders. But in remarks at the National Press Club, …
Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5 percent stake in Prudential, but Qatar does not …
Marsh announced that it has concluded an agreement to acquire HSBC Insurance Brokers Ltd (HIBL), a wholly owned subsidiary of the HSBC Banking Group. The total consideration is valued at £135 million ($218 million), to be paid with a “mixture …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based BNY Trade Insurance Ltd. Best said the ratings’ revisions reflect BNY Trade’s …
The United States cannot agree to a deal in the Doha round of world trade talks until other countries make better offers to open their markets to services trade, the top U.S. trade official said Tuesday. “We know that the …
A study, published by Marsh, finds businesses continue the trend to self-insure through captives. “Despite the global economic recession and continued soft commercial insurance market, businesses in all parts of the world continue to use captive insurance companies as mechanisms …
