Wholesale insurance broker Swett & Crawford has acquired the assets of Oxbridge Insurance Associates, Inc., located in Morristown, New Jersey. The venture marks Swett & Crawford’s first acquisition since the company was sold by Aon Corp. to an investment group …
London’s Advent Capital Holdings announced that its subsidiary, Advent Re, “has received its class 3 reinsurer license from the Bermuda Monetary Authority, effective 27 December 2006.” The Company’s initial capitalization is approximately $37.5 million. “Initially, Advent Re intends to take …
Hilb Rogal & Hobbs announced that it has completed the previously announced acquisition of the stock of the London-based Glencairn Group Limited, effective January 1. (See IJ web site Dec; 21, 2006). Terms of the transaction have not been disclosed. …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Hong Kong’s Sun Hung Kai Properties Insurance Limited (SHKPI) with a stable outlook. “The ratings reflect SHKPI’s consistent and profitable …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Hong Kong-based Dao Heng Insurance Company Limited (DHI) with a stable outlook. “The ratings reflect DHI’s consistent underwriting performance, solid …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa-” of France’s AGF Group and the ICR of “a-” of the group’s non-operating holding company Assurance Generales de France …
Lloyd’s has endorsed a new International Reinsurance Industry Dispute Resolution Protocol, which it notes “provides the insurance industry with an alternative to a court case or a lengthy arbitration if a disagreement should arise between reinsurer and client.” In a …
Ohio’s new attorney general made criticism of the scandal-ridden state insurance fund for injured workers a hallmark of his campaign. Taking office next month, Democrat Marc Dann must now decide whether to appeal a court ruling declaring that the Bureau …
InsureMyWork.com, an informational website about commercial insurance, started an online directory of business insurance agents two months ago. The directory started in California and is now open to all 50 states. Media, PA – InsureMyWork.com is working with several insurance …
As of Jan. 2, Universal Underwriters Group will adopt the brand name of Schaumburg, Ill.-based Zurich in a further step of its ongoing integration with Zurich North America Commercial (ZNAC). While aligning its market presence with the Zurich brand, Universal …
