The Hartford Financial Services Group Inc. plans to expand its involvement with professional golf by adding three tour players to its sponsorship ranks. In the upcoming season, 2004 Ryder Cup players Chad Campbell and Kenny Perry as well as the …
Despite a second year of unprecedented catastrophe losses, increasing competition is already forcing underwriters to choose between sacrificing premiums, profit or capital, according to a comprehensive report on the 2004/5 reinsurance renewals prepared by Benfield, a leading independent reinsurance intermediary. …
Total property losses from the four major hurricanes that struck Florida in 2004 now top $21.6 billion according to data presented to members of a Select Joint Committee on Hurricane Insurance. The latest estimate, provided by the Office of Insurance …
In a joint announcement, datelined Chicago and Sao Paulo, Brazil, Aon Corp. announced the formation of Aon Affinity Latin America. “The organization will be headquartered in Sao Paulo, Brazil, where Aon has an established presence in the affinity marketplace through …
Watson Wyatt & Company, the principal subsidiary of Watson Wyatt & Company Holdings and the London-based Watson Wyatt LLP announced the signing of a letter of intent to combine the two firms. “Watson Wyatt & Company currently owns approximately 20 …
A report from Beijing (through Yahoo’s news services) notes that China’s Guangdong Province collected property insurance premiums of about 10.1 billion yuan ($1.2 billion) in 2004, up 15 per cent year from the previous year. The Guangdong Provincial Insurance Regulatory …
The Dublin-based consulting firm Research and Markets has announced the addition of a report on “Financial Services Regulators in the Middle East and Africa” to their offering. “This book provides a comprehensive explanation of the financial services regulatory framework in …
Standard & Poor’s Ratings Services announced that it has affirmed its “AA+” long-term counterparty credit and insurer financial strength ratings on Guernsey-based Jupiter Insurance Ltd., the wholly owned captive insurer of U.K.-based oil major BP PLC (also rated ‘AA+’/Stable/A-1+) with …
Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, announced the appointment of John J. Byrne as Chief Underwriting Officer for Quanta’s European operations, Quanta Europe Ltd., based in Dublin, Ireland. He …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Cayman Islands-based Island Heritage Insurance Company Ltd., has removed the rating from under review and assigned it a stable outlook. “This rating action follows …
