The market for insurance-linked securitizations continued to grow in 1999. The growth was at a pace slower than anticipated according to Duff & Phelps Credit Rating Co. DCR rated six transactions in 1999, totaling approximately $400 million, compared to 1998’s …
China Pacific Insurance Co said it is restructuring by splitting its operations into life and property insurance and will then list the latter on the stock market, a spokesman at the firm’s Shanghai headquarters stated Friday.
As part of its ongoing modernization, Lloyd’s just produced the first issue of ARTwork, a quarterly journal designed to explore the technical, regulatory complexities of the Alternative Risk Transfer market. Commenting on Lloyd’s entry into the field, the head of …
ZonaFinanciera.com, a provider of online financial services and information for Latin America, announced a strategic alliance with American International Group, Inc. (AIG). Auto and homeowners insurance provided by AIG member companies will be offered in Argentina, Brazil, Chile, Mexico, Venezuela …
Standard & Poor’s said the Y2K bug that was predicted to cause problems with computer systems worldwide on Jan. 1, 2000, led to no widespread damage for the insurance industry. It also said there were some isolated incidents and that …
An explosion destroyed one mansion and damaged three others and the town hall in Manalapan, Florida in Palm Beach County. One woman was slightly injured in the explosion, which rocked houses up to four miles away and resulted in an …
State Farm Insurance announced plans to build a four-story operations center in the New Albany, Ohio, area to supplement its existing regional office in Newark, Ohio. State Farm’s Ohio regional office is located at 1440 Granville Road in Newark and …
Best Co. affirmed the “A” rating of Prudential Insurance Company of America, based in Newark, N.J. The rating reflects the organization’s diverse and substantial sources of revenues and earnings, prominent market position in its core business units, excellent liquidity and …
Florida Insurance Commissioner Bill Nelson and Attorney General Bob Butterworth ordered Metropolitan Life to pay the state $7.5 million to settle allegations that some of its agents used deceptive sales tactics since the early 1980s to persuade thousands of Floridians …
Cigarette maker Liggett Group is suing its insurance companies in an effort to force them to pay lawyer fees, settlement costs, damage awards and other expenses from smoking-related lawsuits. Liggett, a unit of Brooke Group Ltd., filed suit against about …
