According to catastrophe risk modeling firm AIR Worldwide, the sixth, seventh, and eighth named storms of the northwest Pacific season are approaching the Asian mainland bringing high winds and expected heavy rains. Typhoon Kompasu, the seventh of this year’s tropical …
Taiwan regulators rejected AIG’s planned $2.2 billion sale of its Taiwan unit to a China-related group, citing regulations on mainland investment, and leaving the insurer facing another auction. American International Group, needing to sell assets to pay back the U.S. …
Canadian insurer Manulife Financial Corp and Switzerland’s Ace Ltd are among bidders for New York Life Insurance Co’s Hong Kong, Taiwan and South Korean assets, sources said, in a deal valued between $800 million and $1 billion. Unlisted NY Life …
Taiwan’s legislature has approved a landmark China trade pact, bringing the economies of the once bitter foes to their closest point in more than 60 years. The legislative vote late Tuesday came seven weeks after the signing of the Economic …
Chinatrust Financial Holding Co, Taiwan’s top credit card issuer, is happy to talk to American International Group Inc (AIG) about its Taiwan life insurance unit if the U.S. firm is unable to seal an existing deal to sell the unit. …
Impact Forecasting, Aon Benfield’s catastrophe model development center, has launched the first fully functional Asian typhoon model to span the continent. “The new model will help insurers analyze the financial implications of typhoons and develop reinsurance programs based on scientific …
Southern China on Friday battened down to await the arrival of Typhoon Conson, gathering strength over the South China Sea, and Vietnam deployed nearly 3,000 troops to areas in the path of the storm. Swollen rivers and landslides have killed …
Tropical storm Alex slowed oil spill clean-up and containment work in the Gulf of Mexico and drove more petroleum into fragile Gulf wetlands and beaches Thursday, with any permanent fix to BP Plc’s ruptured deep-sea well still several weeks away. …
Bailed out insurer American Insurance Group and China Strategic Holdings Ltd have agreed to extend the deadline for completing AIG’s planned $2.2 billion sale of its Taiwan unit. While the extension could help AIG and its buyers address concerns from …
Standard & Poor’s Ratings Services has revised its subordinated debt rating on Avalon Re Ltd.’s Class C notes to ‘D’ from ‘CC’. S&P explained that “paid losses related to Hurricane Katrina and the explosion at the Buncefield oil depot totaled …
