And also this week …
Link-up for Hardy and Arig
Hardy Underwriting and Arig have announced a joint venture to write reinsurance business in the Middle East and North Africa. Hardy Arig Insurance Management will write business on behalf of Hardy Syndicate 382 and Arig from the fourth quarter of this year, and will operate from Arig’s Bahrain office.
IAIS gathers in brazil
Insurance supervisors from around the world will gather in Brazil this week for the 16th International Association of Insurance Supervisors (IAIS) annual conference. The theme of this year’s event is ‘Insurance as a means of socioeconomic development – financial crisis and the future of insurance markets’.
Insolvency rates steady
The latest Insolvency Index from Experian has shown the average business insolvency rate during September (0.09%) remained constant on August levels – the lowest since September 2008. The monthly index also revealed a year-on-year improvement for the business population in its financial solidity (from 80.20 in September 2008 to 80.79 in September 2009) as measured by average financial strength score (with 100 being the least likely to fail).