Insurance Companies, Financing Death in Burma
From Australia, Malaysia, England, Japan, Bermuda, Germany, Singapore, US, United Arab Emirates, China, Dubai, Bahrain, Kuwait and Libya, so far world Insurance Companies have closed ranks to support Than Shwe and his criminal regime in Burma. It’s not bad enough US oil company Chevron is exempt from the ban on doing business in Burma proving once again crime and corruption does pay in this New World Order. There is no greater cause than the corporate bottom line. Humanity is just a word used at cotillions and Champaign Dinners. You know, that feel-good word people drop just to look philanthropic. . . . . Link to more of the story!!
Insurance Companies, Financing Death in Burma
From Australia, Malaysia, England, Japan, Bermuda, Germany, Singapore, US, United Arab Emirates, China, Dubai, Bahrain, Kuwait and Libya, so far world Insurance Companies have closed ranks to support Than Shwe and his criminal regime in Burma. It’s not bad enough US oil company Chevron is exempt from the ban on doing business in Burma proving once again crime and corruption does pay in this New World Order. There is no greater cause than the corporate bottom line. Humanity is just a word used at cotillions and Champaign Dinners. You know, that feel-good word people drop just to look philanthropic.
Well, I’ve always said, “Follow the Money” and you will find the perpetrators of corruption and greed. Thanks to Burma Campaign UK I was provided a list of Insurance Corporations funding Than Shwe. I am including the list in it’s entirety for your viewing pleasure. I’ll have something smart ass to say at the end I bet.
Lloyd’s of London.
Lloyd’s, located at the heart of the City of London, describes itself as, “the world’s leading, specialist insurance market.” According to the Burmese Ministry of Finance and Revenue, Lloyd’s provides reinsurance to Myanma Insurance. Lloyd’s syndicates (Lloyd’s terminology for their member companies that sell insurance) have also sold insurance to a regime owned airline. Lloyd’s admitted in April 2008 that some shipping and aviation reinsurance for companies in Burma goes through Lloyd’s. As a consequence of the actions of their syndicates Lloyd’s were placed on our “2005 Dirty List”. Later that year Lloyd’s stated that they were not able to compel their members to end their involvement in Burma and claimed that it would be “against competition law for members to collectively decide not to operate in Burma”.
Pending investigations of these claims Lloyd’s were removed from the Dirty List. Our investigations failed to identify any UK law or act to substantiate Lloyd’s’ claims. Lloyd’s conceded in July 2008 that “Competition Law is not relevant in this case”. When asked to make a statement to their syndicates alerting them to the human rights concerns associated with selling insurance to companies in Burma Lloyd’s refused, instead issuing the following statement on July 23rd 2008: “Unless there are official UN sanctions in place, Lloyd's does not instruct the market where it can and cannot write business. Competition Law is not relevant in this case. However, we do not make public comments on the politics or economic policies of national or international bodies.”
Hannover Re describes itself as “one of the leading reinsurance groups in the world.” Its website states that it is represented in the Burmese market by its Malaysian subsidiary.
Catlin describes itself as “an international specialist property and casualty insurer and reinsurer, writing more than 30 classes of business”. It has four “underwriting platforms”: the Catlin Syndicate at Lloyd's, Catlin Bermuda, Catlin UK and Catlin US. The company has provided insurance services to a regime owned airline.
Atrium Underwriting manages two Lloyd’s Syndicates. Atrium has provided insurance services to a regime owned airline. It is owned by the Bermudan company Ariel Re.
London, United Kingdom
XL is a global insurance company with “local knowledge and expertise in approximately 100 countries.” According to Reinsurance Magazine, the company has provided insurance services to a regimeowned airline. Although we asked the company’s London office to account for the policies of the company they replied in late July 2008 stating we should “contact other XL companies to ascertain their position”. The Burma Campaign UK will be contacting these companies directly.
Tokio Marine and Nichido Fire Insurance Co.
Tokio Marine describes itself as Japan’s largest and longest established non-life insurance company. The company’s recently acquired Lloyd’s subsidiary, Kiln, has provided insurance to a regime owned airline. Tokio Marine company also maintains a representative office in Burma.
Sompo Japan is one of the three largest non-life Japanese insurers. The company admits to operating a “Liason office” in Burma to “provide insurance information to customers”. Sompo Japan has offices across the world, including in the UK. Evidence indicates the company has applied to form a joint venture with regime owned Myanma Insurance.
Mitsui Sumitomo Insurance
Mitstui is one of Japan’s largest non-life insurers. Included in its large overseas network is a representative office in Rangoon. Evidence indicates the company has applied to form a joint venture with regime owned Myanma Insurance.
QBE describes itself as “Australia’s largest international general insurance and reinsurance group, and one of the top 25 insurers and reinsurers worldwide”. Company websites state it has two correspondent offices in Burma
ACE is a global insurance and reinsurance company based in Bermuda. Its subsidiary, Ace Marine, offers insurance for Burma through its London office.
London, United Kingdom
Labuan Re headquartered in Malaysia describes itself as “an international reinsurer”. The company lists Burma as one of its “overseas markets”.
Federal Territory of Labuan, Malaysia
OCBC (Oversea-Chinese Banking Corporation) is Singapore’s longest established bank, and is today one of Asia’s leading financial services groups. Its subsidiary, Great Eastern Holdings, describes itself as the “leading insurer in Singapore”, it has stated it provides insurance services to Singapore owned companies in Burma.
Pana Harrison is a Singaporean based insurance broker. It lists Burma as part of its network. Our sources indicate the company is active in the aviation sector, providing insurance services for regime owned airlines.
Target Insurance Broker
Target is a Singaporean broker which works in the Lloyd’s, Australian and European markets. It also provides insurance brokerage services for companies in Burma.
Arab Insurance Group (ARIG)
ARIG is the “largest reinsurance company in the Middle east and North Africa”. It is part owned by the governments of the United Arab Emirates, Libya and Kuwait. The company’s website states that its Singapore branch is responsible for activities in Burma.
Manama, Kingdom of Bahrain
Al Wasl is a Dubai based (re)insurance reinsurance broker. The company’s website states that its Bangladesh offices is responsible for marketing the companies operations in Burma.
Dubai, United Arab Emirates
For complete contact information for companies listed above as well as other important information and news, follow this link
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