The U.K.’s Royal & Sun Alliance exceeded analysts’ forecasts with a nine-month earnings report that included an operating result of £453 million ($835 million), compared to a restated operating result of just $27 million ($50 million) in the same period …
On November 12, 2004, insurance industry representatives will unveil what they say is a plan to demonstrate the industry’s commitment to ensuring that Ontario consumers enjoy the highest level of transparency and confidence in their dealings with the property and …
Massachusetts Attorney General Thomas F. Reilly said his office wants to know whether water accumulating on the underground roof of the Big Dig tunnels could damage the $14.6 billion roadway project, and who should be blamed for more than 400 …
A leading trial lawyer association leader has called for an end to partisan charges against lawyers and for lawyers to stand up and take pride in what they do. Mary Alexander, past president of the country’s largest trial lawyers group, …
American International Group, Inc. announced that its subsidiaries American Home Assurance Company and AIU Insurance Company will purchase the insurance portfolio of the Royal & SunAlliance (RSA) branch operations in Japan. The agreed on purchase price of the book of …
Germany’s Hannover Re – ranked by Standard & Poor’s as the world’s fifth largest reinsurer – announced third quarter earnings that were heavily impacted by the Florida hurricanes and Japanese typhoons. Operating profit (EBIT) during the period fell 84.7 percent …
Swiss-based Converium has announced the appointment of Paul E. Dassenko as President and CEO of Converium Reinsurance (North America) Inc. effective November 16, 2004. He succeeds Corcoran Byrne who continues in his role as General Counsel after serving as the …
A.M. Best Co. announced that it has assigned a debt rating of “bbb” to Bermuda-based PartnerRe Ltd.’s $200 million 6.5 percent Series D Cumulative Redeemable Preferred Shares. It also assigned PartnerRe an issuer credit rating of “a-” and noted that …
Bermuda-based Everest Reinsurance Ltd., a wholly owned subsidiary of Everest Re Group Ltd., announced the appointment of Tom Jackson as General Manager of its U.K.branch in London. “This operation writes treaty reinsurance on behalf of Everest Reinsurance (Bermuda) Ltd. for …
A.M. Best Co. announced that it has assigned respective debt ratings of “a-” to XL Capital Ltd.’s $300 million 5.25 percent senior unsecured notes, due 2014 and $350 million 6.375 percent senior unsecured bonds, due 2024. Best also assigned XL …
