Reported by Star-Bulletin staff & wire
Tuesday, November 25, 1997
Bank of Hawaii has agreed to invest $22 million in the Bank of Queensland, substantially increasing the Australian bank's capital. Bank of Hawaii makes a move into Australia
Bank of Hawaii, the biggest subsidiary of Pacific Century Financial Corp., said it is also working on ways to cooperate with the Australian bank, including sharing expertise and facilities.
Richard Dahl, Bank of Hawaii president, said his bank until now has not had a connection with Australia, the missing link in its Pacific Rim expansion strategy.
Neil Roberts, chairman of Bank of Queensland, said Australia is the center of a growing trade among Asia-Pacific nations.
Bank of Queensland has 95 branches and assets of 2.5 billion Australian dollars, equal to U.S.$1.75 billion.
A conference in Waikiki next Tuesday will seek ways to deal with and prevent crimes against tourists. Waikiki conference looks at crime, tourism
The 1 p.m.-to-6:15 p.m. conference at the Outrigger Prince Kuhio Hotel, followed by a reception and a "citizens' patrol" through Waikiki, was arranged by the Hawaii Visitor Industry Security Association with support from the city and the state.
The keynote speaker will be Peter Tarlow, a Texas sociologist who writes about the effects of crime and terrorism on tourism.
Other speakers are from tourist areas in Nevada, California, Oregon, Arizona and Virginia.
The conference fee is $20. For information and reservations call 922-4641.
An insurance industry rating organization, A.M. Best, has raised its grade for First Insurance Co. of Hawaii Ltd. to A, or excellent, from A-minus. Ratings agency raises First Insurance's grade
Established in 1911, First Insurance has about 50,000 Hawaii holders of property, casualty and workers compensation policies. It is owned 60 percent by CNA Financial and 40 percent by Tokio Fire and Marine Insurance Co.
A.M. Best rates insurance companies according to their financial strength and ability to meet the needs of policy holders.