Federal securities regulators are moving to ease some financial-control rules for thousands of smaller public companies at the same time they look to stiffen requirements for individuals to invest in fast-growing hedge funds. In proposed rule changes under a landmark …
U.S. tort costs totaled $261 billion in 2005, which is approximately $880 per person and $4 less per person than in 2004, according to the 2006 Update on U.S. Tort Cost Trends from the Tillinghast business of Towers Perrin. The …
The Hartford Financial Services Group, Inc. has entered the personal lines independent agency market in West Virginia. Products being offered in West Virginia through The Hartford’s independent agency channel include the company’s Dimensions auto and homeowners insurance plans. To support …
The Commerce Insurance Co. has entered into a long-term marketing agreement with AAA Southern New England that extends the two organizations’ business partnership in selling to auto insurance in Massachusetts to a minimum of 20 years, enhancing a successful relationship …
The ACE Group of Companies has appointed Audrey M. Samers global ethics and compliance officer, effective Jan. 1, 2007. Samers will be responsible for providing ethics and business practices guidance, educating the ACE organization on that guidance, and maintaining a …
Swiss Re’s new sigma study – Securitizations,” also called “insurance linked securities (ILS),” notes that they “provide insurers with a financing vehicle and a means of transferring risks to the capital market,” increase industry capacity, improve insurers’ return on equity, …
The Board of Equitas and the Equitas Trustees have written to all Reinsured Names announcing three consultation meetings in January. Equitas is the vehicle established in 1996 by Lloyd’s to run-off its pre-1992 liabilities, principally asbestos and environmental claims. The …
Swiss-based Converium AG announced that it has received “all necessary regulatory approvals, and has closed the sale of its North American operations to National Indemnity, a Berkshire Hathaway company. The deal was announced earlier this year (See IJ web site …
Fitch Ratings has affirmed its existing debt ratings on RenaissanceRe Holdings Ltd (RNR) – variously “A-“, “BBB+” and “BBB” – and has assigned a ‘BBB’ rating to RNR’s new $300 million Series D Preferred Share issue (See IJ web site …
A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Glacier Insurance AG, a Liechtenstein company. Best place a negative outlook on the rating, “in line with that of the …
