Rodney Adler, 45, has received a 4 year prison sentence, stemming from his part as a Director in the collapse of HIH Insurance Ltd. in March 2001, Australia’s largest corporate failure. He will be eligible for parole in 2 years. …
The Association of British Insurers has issued a call to the country’s voters to “make flood management an election issue,” as it publishes its “flood manifesto.” The ABI is targeting 100 constituencies in a major initiative that it feels strongly …
The Catastrophe Risk Exchange International Inc. (CATEX), a provider of web-based trading and back-office services to the international insurance and reinsurance market, announced that JLT Risk Solutions (Bermuda) Ltd., a member of the Jardine Lloyd Thompson Group plc, has agreed …
Transatlantic Holdings Inc. announced that it presently expects to report net catastrophe losses in its first quarter 2005 results of approximately $19 million after tax, principally resulting from European Windstorm Erwin. The company also announced that it would announce first …
A report from Standard & Poor’s concludes that the “Australian and New Zealand markets continued to perform favorably during the first quarter of 2005, driven by a continuation of stable economic conditions and healthy corporate balance sheets, flowing through from …
Radian Asset Assurance Inc., a leading provider of municipal bond insurance and financial guaranty services, announced that Iain MacDonald has agreed to join the company as VP-International Public Finance in its growing European operation based in London. His “position reflects …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating of “bbb” of Western Isles Insurance Company Limited (WIICL), which is based on the Isle of Man. The outlook …
The Netherlands ING Group announced that it has closed its transaction to sell ING Chile’s property & casualty insurance operation, ING Seguros Generales, to Boston-based Liberty Mutual Group. The sale was originally concluded in March (See IJ Website March 22, …
The Missouri House passed legislation Wednesday that would tighten regulation of medical malpractice insurers as part of an effort to bring down premiums for physicians. The 141-11 vote sends the bill to the Senate. Sponsoring Rep. Richard Byrd said the …
Wednesday’s House passage of H.R. 8, the Death Tax Repeal Permanency Act, is a great step forward, according to the Independent Insurance Agents & Brokers of America (the Big “I”). Sponsored by Rep. Kenny Hulshof (R-Mo.), the bill would permanently …
