Standard & Poor’s Ratings Services and A.M. Best Co. both issued brief bulletins commenting on Generali’s earnings announcement and its plans for the future, which include issuing new hybrid securities (See related article above). S&P said “its ratings and outlook …
The Generali Group announced impressive preliminary results for 2005 and an ambitious growth plan at a general meeting yesterday, March 6, in Milan. 2005 profits rose 15 percent to €1.918 billion ($2.3 billion). The Group also announced a series of …
The Liberty Mutual Group announced form its Boston headquarters that its Portuguese subsidiary, Liberty Seguros Portugal, has signed a memorandum of understanding with insurer Acoreana to form a strategic alliance in the Portuguese insurance business. Liberty said that once the …
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 Rutland Insurance Ltd., a single parent captive of the U.K.’s Anglian Water Group plc (AWG). The …
Atlas Insurance Management, an independent insurance management and consulting company, announced from its headquarters in Georgetown, Grand Cayman, the appointment of Nicholas Leighton as Group Managing Director for the Atlas worldwide operations. He has sixteen years of captive management experience …
Lloyd’s has selected Richard Ward, former head of the London-based International Petroleum Exchange (IPE) as its new CEO. Announcing the appointment, Lloyd’s Chairman Lord Peter Levene commented: “I am delighted that Richard has agreed to join Lloyd’s at such a …
New York Gov. George Pataki has proposed legisaltion requiring stricter safety and insurance requirements for commercial passenger boats on the state’s waterways. The legislation mirrors proposals the governor made in the fall after the 40-foot Ethan Allen tour boat capsized …
Certified public accountants wading into tax season should be aware of heightened exposure to liability as clients make crucial year-end decisions about how to manage tax liabilities for 2005, according to a recent study by Camico Mutual Insurance Company, the …
Expanding its servicing capabilities for new and existing clients, Starr Technical Risks Agency, Inc. announced at press time that it will begin immediately offering commercial insurance coverages by ACE USA and Berkshire Hathaway Group. Starr Technical, which specializes in complex …
Purse snatching has traditionally been a crime directed against women, but the growing use of small electronic devices by men, frequently carried in bags, has increasingly made them the victims of grab and run thieves. Lloyd’s notes that “bag theft” …
