3,000 delegates from around the world have gathered in Kobe Japan on the 10th anniversary of the earthquake, which killed more than 6,400 people and leveled large parts of the city, to discuss how to better prepare for natural catastrophes. …
ACE European Group confirmed that as of Jan.1, 2005 its belgian subsidiary, ACE Insurance S.A. N.V., has successfully transferred its insurance and reinsurance portfolio into ACE European Group Limited (AEG). “ACE European Group Limited is now the principal operating platform …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Italy’s Società Cattolica di Assicurazione Coop. a R. L. with a stable outlook. “The rating reflects Cattolica’s prospective excellent risk-adjusted capitalisation, excellent operating performance …
Swiss Re has released a study, entitled “Understanding reinsurance: How reinsurers create value and manage risk,” which highlights the role of reinsurance as one of the major risk and capital management tools available to insurance companies. The study explains how …
Standard & Poor’s Ratings Services announced that it has affirmed its ‘A’ long-term counterparty credit and insurer financial strength ratings on Assuranceforeningen Gard – gjensidig – (Gard P&I), the Norway-based protection and indemnity (P&I) marine mutual club. S&P also said …
A.M. Best has issued a comment on the Jan. 5, 2005 sale by the Radian Group Inc. of its 36 percent share of Bermuda-based Exporters Insurance Company Ltd.’s parent company, EIC Corporation Ltd. (EIC) to Island Partners LLC, an affiliate …
As supporters of two radically different medical malpractice initiatives present their proposals at a Monday legislative hearing, state Insurance Commissioner Mike Kreidler is touting new numbers that suggest the crisis isn’t so bad after all. “It’s clear that insurance goes …
M. Lee Patkus, president and chief operating officer of Harleysville Group Inc., has resigned his positions and will leave the company on Jan. 21, 2005. He will begin a new position as regional vice president of The Hanover Insurance Company’s …
Legislation initiated by the Ohio Department of Insurance and the Ohio Department of Natural Resources that enhances insurance benefits for Ohioans living in counties affected by mine collapses passed the Ohio General Assembly recently. House Bill 425 changes the Ohio …
Navigators Underwriting Agency Ltd., a subsidiary of The Navigators Group Inc. announced the establishment of Navigators NV with the opening of a new office in Antwerp, Belgium. The new specialist marine underwriting unit is Navigators’ first office in continental Europe. …
