Connecticut Gov. M. Jodi Rell signed landmark legislation this week that makes Connecticut the first state to recognize same-sex civil unions without court pressure. It joins Vermont and Massachusetts as the only states with laws that provide far-reaching benefits to …
The Commerce Group Inc. in Webster, Mass. reported 2005 first quarter net earnings were $58.0 million, or $1.72 per diluted share, compared to net earnings of $51.0 million or $1.56 per diluted share for 2004. Included in the 2005 first …
The Association of British Insurers (ABI) has urged the U.K.’s Financial Services Authority (FSA) to improve its enforcement procedures so that they provide “greater transparency, objectivity and certainty.” The ABI’s recommendations are made in its response to the Enforcement Process …
With a saturated and highly competitive home market, Japanese insurers are increasingly looking abroad for opportunities to expand. According to a report from the Japanese business newspaper Nihon Keizai, as reported by Reuters, Tokio Marine & Nichido Fire Insurance Co., …
The U.K.’s Chartered Insurance Institute (CII) and Allianz Cornhill, the U.K. subsidiary of Germany’s Allianz, announced the success of a program they’ve been sponsoring to reverse the perceived decline in technical skills among U.K. insurance underwriters. In 2000 the two …
Following its assignment of an “a+” rating to Generali’s 500 million euro ($653.4 million) debt issue (see previous article), A.M. Best Co. announced that it has revised the ratings of the debt instruments issued or guaranteed by Assicurazioni Generali SpA. …
A.M. Best Co. and Standard & Poor’s Ratings Services have assigned an “a+” and an “AA-” senior unsecured debt rating respectively to the 500 million euro ($653.4 million) notes due in 2015 launched by Generali Finance B.V. of the Netherlands. …
Rory Carvill, executive chairman of Carvill, a leading specialty reinsurance intermediary, has announced the appointment of John Cavanagh and David Thomas as joint CEO’s of the Carvill Group. Cavanagh has 30 years experience in the reinsurance business, 17 of which …
Acting Superintendent of Insurance Howard Mills announced that the New York State Insurance Department has approved a New York Central Mutual rate filing that will reduce the auto premiums paid by their policyholders by a statewide average of 5.1 percent. …
The board of directors of American International Group Inc., which is under investigation by state and federal authorities for certain accounting and reinsurance practices, has elevated public policy concerns and added outside directors in a reworking of its organizational chart. …
