Insurance giant American International Group, under increasing scrutiny by state and federal regulators and its own internal auditors, is looking at the possibility of fixing up to $3 billion in accounting mistakes made over the past five years, the Wall …
Renee Pinczes has been named chief financial officer of Atlanta-based AssuranceAmerica Corp. Pinczes was previously vice president of Strategic Planning and Analysis for PRG-Schultz International Inc. an Atlanta-based recovery audit services firm. Before joining Schultz she was CFO and chief …
The Maryland House of Delegates this week passed a bill to enable doctors to get refunds on their malpractice insurance premiums. The action corrects the medical malpractice reform law approved in a special session last year. The Senate approved the …
Standard & Poor’s Rating Services announced that it has affirmed its “BBB” counterparty credit and senior unsecured debt ratings and ‘A-2’ commercial paper ratings on Marsh & McLennan Cos. (MMC) and removed the ratings from CreditWatch where they had been …
In a joint announcement private retail brokerage firm Palmer & Cay, Inc., and Glencoe U.S. Holdings Inc., the wholly owned U.S. subsidiary of Bermuda’s RenaissanceRe Holdings Ltd., affirmed that Glencoe has acquired property facultative reinsurance underwriting manager Savannah Reinsurance Underwriting …
The ACE Group of Companies announced that it has received regulatory approvals to commence property and casualty insurance operations in Poland and Russia. The U.K.’s Financial Services Authority (FSA) has “authorized the opening of an ACE European Group Limited branch …
The U.K.’s Prudential, Britain’s second largest insurer, announced that Jonathan Bloomer, Group CEO for the last five years, will be replaced by Mark Tucker, currently group finance director at HBOS, the banking group formed by the merger of Halifax and …
Houston-based Linsure Holdings, Inc. has announced the launch of “Linsure Directo” through its wholly owned European subsidiary Linsure Iberica S.A. Linsure is a diversified holding company with strategic interests in providing coverage for litigation funding (legal fees, etc.) and real …
A.M. Best Co. has issued a comment indicating that all of its on French reinsurer SCOR Group will remain unchanged following publication of the company’s earnings results (See IJ Website March 24). “The reported net income of EUR 68.7 million …
A.M. Best Co. announced that it has upgraded the financial strength ratings to “A” (Excellent) from “A-” (Excellent) of Groupama Vie and Groupama Transport. Both companyies are operating subsidiaries of French insurer Groupama S.A. Best also upgraded its issuer credit …
