Spanish insurer Grupo Catalana Occidente announced that it has acquired 3,969,466 shares in global credit insurer Atradius – an additional 7.01 percent stake – from Swiss Re, Atradius’ largest shareholder. The purchase for 49 million euros ($60 million) makes Grupo …
The Association of British Insurers has issued a bulletin indicating that its calls for reform of the U.K.’s employers’ liability insurance market and the personal injury compensation system have been further strengthened by a recent report from the EEF (Engineering …
Fitch Ratings announced that it has affirmed the “A” insurer financial strength ratings of Max Re Ltd. and its Dublin-based subsidiaries, Max Re Europe Ltd. and Max Insurance Europe Ltd. Fitch also affirmed the “BBB” long-term issuer rating of Max …
Integro (Canada) Ltd. announced that it has hired former Willis EVP Robert Dunn to head up its newly-launched Montreal office. He will be responsible for directing the company’s Montreal business strategy and resources, as well as developing and cultivating executive …
Superior Court Judge Christopher G. Wilson ordered the owner of three Humboldt County bars to pay State Compensation Insurance Fund $66,355.00 in restitution for defrauding the workers’ compensation insurance carrier. Salvatore Constanzo, of Eureka, was ordered to pay the amount …
The model surplus lines insurance brokerage of 2010 should be faster, bigger, better, leaner, able to cross state lines and come in colors other than white. Industry leaders predict that while there might be slightly fewer surplus lines brokers five …
Affinity Group Administrators announced the appointment of Phil Pierson to its Southern California operations. Based in Folsom, Affinity’s growth has caused the need to establish a greater Southern California presence. Pierson brings over 23 years of risk management, insurance and …
When Hurricane Camille struck the Gulf Coast areas of Louisiana, Mississippi, and Alabama in August of 1969, residents likely thought they would never see another storm with such power. In Camille, a legend of death and destruction was born. Thirty-six …
Hurricane Katrina could be called an industry nightmare. Some insurers were still reeling from the effects of the Asian tsunamis and last year’s four hurricanes. Yet when Katrina struck in late August, she forced insurers to action. The hurricane dislodged …
European Insurers Estimate Katrina Losses: A disaster the scope of Hurricane Katrina hits everybody, not just U.S. carriers. The following are some of the preliminary estimates of anticipated losses from a number of European insurers: Amlin Plc, a leading Lloyd’s …
