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Ukraine News

Willis Opens New Kazakhstan Office

Willis Group Holdings announced that it has received official approval from local authorities to open a representative office of Willis Limited in Kazakhstan, the third office Willis has opened in the former Soviet Union, in addition to branches in Russia …

Somali Pirates Seize Greek-owned Ship in Gulf of Aden

Somali pirates have seized a Liberia-flagged and Greek-owned ship with 24 people aboard in the Gulf of Aden, officials said on Wednesday. The ship, managed by Eurobulk Ltd and named Eleni P, was carrying iron and sailing from Ukraine to …

European Union to Issue Climate Warning; Tackle CO2 Loopholes

Loopholes in the United Nations climate treaties could actually amount to an increase in global climate-warming emissions and the chance to rein in temperatures may be slipping away, a draft European Union report showed. “Optimistic assessments…indicate that a pathway towards …

Willis Sees Premium Rates Softening for Mining Industry in 2010

“Rates for Mining Property Damage & Business Interruption (PD/BI) insurance are likely to soften in 2010, but could harden again should this volatile sector experience a catastrophic loss, according to the latest Mining Market Review from Willis Group Holdings. Willis …

Political, Financial Risk Levels Continue High in 2010, Says Aon

Political and financial instability remain a feature of the business landscape as a result of the recession, according to Aon Risk Services, the global risk management and insurance brokerage business of Aon Corp. The company launched its 17th annual Political …

Cargo Ship and Tanker Hijacked off Somali Coast

A cargo ship and a chemical tanker have both been hijacked by pirates in the perilous waters off the coast of Somalia, bringing to four the number of ships seized in the past week, officials said Saturday. The multiple hijackings …

Allianz Names Bauer to Head Europe, Middle East ‘Growth Region’

Allianz annonced that, effective January 1, 2010, Manuel Bauer will be CEO of the new growth region – ‘Central and Eastern Europe, Middle East and North Africa’ (CEEMA). He succeeds Klaus Junker, former CEO of the New Europe region, who …

Ratings Recap: Cattolica, Ghana Re, Al Ittihad, Grafton, RCHL

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Italy’s Societa Cattolica di Assicurazione – Societa Cooperativa. Both ratings gave negative outlooks. Best said the ratings reflect its “expectation …

Ratings: NIPPONKOA, Russian Re, Lemma, Lakeside Re, Inter Hanover

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of Hong Kong-based NIPPONKOA Insurance Company (Asia) Limited, both with stable outlooks for both ratings is stable. “The ratings reflect NIPPONKOA …

Political Risk Premiums Rising in Response to Resource Nationalism

Political risk insurance premiums have risen across emerging markets in the last year, fuelled by rising resource nationalism and unrest linked to the financial crisis as well as a renewed concern over risk amongst investors. Foreign direct investors use the …