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Atradius in China
Asia
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01 September 2006
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795 - 01 September 2006
Credit insurance most used in Germany
Europe
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01 September 2006
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795 - 01 September 2006
Alien reinsurers increase share of US market
North America
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01 September 2006
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795 - 01 September 2006
Aon predicts P&I rate rises
International
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01 September 2006
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795 - 01 September 2006
Security
16.8, kidnapping
Nigeria: two Norwegian and two Ukrainian oil workers held hostage in Nigeria were freed. The four workers were taken a week earlier from a vessel (anchor handling tug/supply Northern Comrade
) servicing an offshore oil rig operated..
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01 September 2006
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795 - 01 September 2006
Aviation
9.8, turbulence
Turkey: a Turkish Airlines Airbus A340-300 aircraft carrying 191 passengers flying from Istanbul was hit by turbulence, injuring two cabin crew members and five passengers as it was approaching Narita airport, its destination. The..
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01 September 2006
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795 - 01 September 2006
Natural catastrophes
8.8, flooding, fatalities
Pakistan: flooding and heavy rains in north-western Pakistan left 144 people dead and 97 others injured. The deaths occurred since July 26 when heavy monsoon rains began, causing floods and mudslides in various districts in..
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01 September 2006
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795 - 01 September 2006
Marine
12.8, non-removal of wreck
Belize: part containerised general cargo Transfer
, which ran aground on top of Belize’s barrier reef 20 months ago, is still sitting on the reef with no indication that it will be removed any time soon. This is..
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01 September 2006
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795 - 01 September 2006
Liability, awards and settlements
10.8, cancer drug pricing, settlement
US: the Connecticut Attorney General announced that GlaxoSmithKline Plc has agreed to a US$70mn settlement over cancer drug prices. Attorney General Richard Blumenthal said in a statement the settlement will..
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01 September 2006
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795 - 01 September 2006
Road and rail
11.8, derailment
US: four Union Pacific locomotives derailed in downtown Dallas. The accident took place on a bridge over Stemmons Freeway, near the old Texas School Book Depository building in the West End. One of the engines was on its side. Three..
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01 September 2006
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795 - 01 September 2006
Property and business interruption
8.8, fire, fatalities
Spain: a man trying to put out a blaze threatening his home became the third person to die in the dozens of forest fires raging in north west Spain, many started intentionally, according to the Spanish government. The..
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01 September 2006
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795 - 01 September 2006
Late reports
5.8, bird flu
Thailand: a 27-year-old Thai man died of bird flu, the country’s second death this year and its 16th victim since the H5N1 virus swept across parts of Asia in late 2003. The man died in the province of Uthai Thani, 220km north of..
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01 September 2006
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795 - 01 September 2006
Endurance Specialty Holdings
Last year, Hurricane Katrina delivered some expensive lessons about the limitations of modelling in the catastrophe exposed parts of Endurance Specialty’s portfolio
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01 September 2006
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795 - 01 September 2006
Investors reassured by prospect of ‘benign’ hurricane season
Sector also boosted by a flow of positive second quarter results and a growing belief in the benefits of risk modelling
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01 September 2006
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795 - 01 September 2006
The world’s largest professional non-life reinsurers
The damage wrought by Hurricane Katrina last year meant that the only two US/Bermudian reinsurance companies to post underwriting profits last year were Arch Capital and Harbor Point (formerly a reinsurance division of the Chubb group)
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01 September 2006
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795 - 01 September 2006
Substantial rate hikes expected during second half of 2006
Foreign companies are targeting Chile and competition for market share is heating up • News round-up
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01 September 2006
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795 - 01 September 2006
Bank of India finally ventures into life insurance
Bancassurance has proved to be a success for other national banks and the Bank of India does not want to miss out
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01 September 2006
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795 - 01 September 2006
Market stages recovery in 2005 helped by low catastrophe claims
Following on from an article in the last issue of WIR, we feature further information and statistics on the Japanese market
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01 September 2006
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795 - 01 September 2006
Increasing demand for retirement products boosts life premiums
The market welcomed a new retirement insurance scheme in 2006, with almost 700,000 contracts already in force
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01 September 2006
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795 - 01 September 2006
Allianz branches out into micro-insurance in Indonesia
The insurer says it is supporting national government policy to increase access to insurance • Ex-Skandia executive stands trial
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01 September 2006
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795 - 01 September 2006
Scor faces further litigation in US over Irish subsidiary’s shares
Highfields Capital Management has filed a new complaint after Scor wins the first hearing on a technicality
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01 September 2006
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795 - 01 September 2006
New single market regulator causes controversy in Poland
The ECB is just one organisation concerned that the regulator’s independence has been compromised by government control
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01 September 2006
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795 - 01 September 2006
Industry files lawsuit against Californian motor insurance law
Three trade groups have resorted to litigation to try and reverse new rules that they claim are illegal and unfair
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01 September 2006
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795 - 01 September 2006
Positioning for change
Malaysia is positioning itself to be a leading force in the development of Islamic financial solutions, and takaful and retakaful is shaping up to be a major opportunity for the insurance industry. Addressing a market discussion between regulators,..
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01 September 2006
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795 - 01 September 2006
Greater role for MEPs in the framing of European Union financial sector laws
MEPs have won a bigger say on how EU laws on insurance and other financial services are implemented and updated.
An agreement between the European Parliament, ministers and the European Commission clinched during summer recess seeks to settle a..
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01 September 2006
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795 - 01 September 2006