Colemont Insurance Brokers announced the addition of Bob Maeyama as senior underwriter in its Dallas office. Maeyama will be responsible for the marketing and servicing of commercial insurance products to retail agents in Texas, Louisiana, Oklahoma and New Mexico through …
Hannover Re reported solid profits in the second quarter of 2005, earning 121.4 million euros ($150.6 million), a 6 percent gain, compared to the 114.6 million euros ($142.2 million) earned in the same period of 2004. The giant reinsurer’s consolidated …
The U.K.’s largest insurer, Aviva Plc reported strong first half results with worldwide operating profit up 21 percent to 1.318 billion pounds ($2.38 billion), compared to 1.076 billion pounds ($1.94 billion) in the first half of 2004. The record earnings …
Bermuda-based Endurance Specialty Holdings Ltd. announced that two of its initial investors, Texas Pacific Group and Thomas H. Lee Partners, have agreed to sell approximately 7.7 million ordinary shares in a block trade. “Goldman, Sachs & Co. has agreed to …
A.M. Best Co. announced that it has assigned a financial strength rating of “A” (Excellent) and an issuer credit rating of “a” to Germany’s HDI Industrie Versicherung AG (HDI Industrie) with a stable outlook. “The ratings reflect the enhancement received …
A.M. Best Co. announced that it has assigned a rating of “aa” to the forthcoming Sw.Fr. 300 million ($235 million) senior notes to be issued by Swiss Re Treasury (US) Corporation and guaranteed by Swiss Reinsurance Company (Swiss Re) with …
A.M. Best Co. commented that all of its ratings for Swiss-based reinsurer Converium AG and its main subsidiaries “remain unchanged following the announcement of the consolidated half-year 2005 results.” Converium announced a pre-tax profit of $49.2 million in the 2nd …
Former Senior Vice President Johannes (Johs) Worsoe, head of global markets, chairman and CEO of UnionBanc Investment Services, LLC, and chairman and CEO of UBOC Insurance Inc., has been promoted to executive vice president for Los Angeles-based Union Bank of …
Rockwood Programs has developed a portfolio of products and services specifically tailored for Managing General Agents and Program Administrators. A separate unit within the company will administer this portfolio. “We have been an advocate for Managing General Agencies ever since …
A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of time.” The study suggests that the trigger for …
