Robert W. Hempkins, founding principal of Hempkins Insurance, Denison, Texas, was elected president of the Independent Insurance Agents of Texas for 2006-2007 and sworn in during IIAT’s 109th Annual Conference and Trade Show in Houston. His term begins Sept. 1. …
American International Group, Inc. (AIG) has named Anthony J. Galioto to the position of AIG Companie’ senior executive – East. Based in Atlanta, Galioto succeeds David M. Hupp, who was recently elected president and chief executive officer of AIG Aviation, …
Rhode Island Governor Donald L. Carcieri is expressing strong opposition to legislation (Senate bill 2882) that would subject his appointments to the Beacon Mutual Insurance Company board of directors to Senate advice and consent. He is also criticizing a Senate …
A.M. Best Co. has placed the financial strength rating of “B++” (Very Good) and issuer credit rating of “bbb” (ICR) for Ireland’s Primary Insurance Company Limited (PICL) under review with negative implications. “These rating actions follow worse than anticipated financial …
A.M. Best Co. has placed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-“of Swiss reinsurer Glacier Reinsurance AG under review with negative implications. “The rating action is due to Glacier Re’s 2005 year-end net …
A.M. Best Co. has affirmed the financial strength rating of “B++” (Very Good) and assigned an issuer credit rating of “bbb” to Germany’s SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG (Sovag) with a stable outlook. Best noted that “Sovag is a specialist …
ACE European Group announced that it is offering an extensive and affordable environmental liability cover specifically for smaller and mid-sized private and corporate businesses, as part of its existing liability and commercial package insurance programs. The bulletin described ACE’s new …
Bermuda-based Endurance Specialty Holdings Ltd. announced that its U.S. reinsurance subsidiary, Endurance Reinsurance Corporation of America (Endurance Re) has hired Darrell E. Franklin as Senior Vice President. Franklin has over thirty-five years of professional experience in the reinsurance and insurance …
In a breakthrough move, Aon U.K., announced that it “will move to a full electronic trading capability during 2006 for its specialist insurance and reinsurance businesses.” Aon’s London-based operation plans to phase in electronic trading gradually. It “will begin to …
Germany’s Allianz AG confirmed growing speculation that it would launch substantial cost cutting measures with the announcement on Thursday, June 22, that it plans to reduce the number of workers at Allianz Deutschland AG (ADAG), its German insurance operation, by …
