BA International Underwriters Ltd, a wholly-owned subsidiary of Banc of America Insurance Group, in conjunction with Lloyd’s of London, has established the Pembrace Casualty Insurance Syndicate to expand Bank of America’s ability to offer specialty liability, casualty and reinsurance services. …
Standard & Poor’s Ratings Services reported that it has preliminarily reviewed its Lloyd’s Syndicate Assessment (LSA) coverage for 2007. S&P said it will “undertake a full review of the LSAs upon receipt of the year-end report and accounts for 2006.” …
Warning that “European businesses face uninsurable environmental impairment risks,” the Federation of European Risk Management Associations (FERMA) called on insurers to be less “risk averse.” It urged members to “develop products that will allow businesses to protect themselves against new …
Standard & Poor’s Ratings Services has placed its “BB+” senior secured debt rating on the €110 million ($142 million) variable-rate notes issued by Aiolos Ltd. on CreditWatch with negative implications. S&P explained that Aiolos “is a special-purpose reinsurance company, the …
Dublin-based Research and Markets announced the addition of Australian Insurance Industry: An Analysis to their offering. “This report is a detailed study about the Australian insurance industry and its various segments,” the bulletin explained. “Australia has a mature, diversified, sophisticated, …
Based on current estimates, Munich Re expects pretax losses from Windstorm Kyrill to be around €600 million ($775 million). The estimates include claims relating to the Group’s primary insurance subsidiary ERGO. Munich Re’s estimate of overall insured market loss is …
Now that the Florida Legislature has passed a bill that lawmakers say will address the state’s insurance problems, Gov. Charlie Crist and legislative leaders said Thursday their attention will be on pushing for a national catastrophe fund. Crist plans to …
MBIA Corp., a large insurer of municipal bonds, has agreed to pay $75 million to settle an investigation by federal and New York state authorities into its accounting for a 1998 transaction, people familiar with the matter said Friday. The …
The Maine Legislature declared that it would refuse a congressional order to change its drivers’ licenses so they can serve as national identification cards. Supporters of last week’s nonbinding resolution — called the first of its kind in the nation …
Mississippi Insurance Commissioner George Dale held a public hearing on a proposed insurance bill of rights, saying the provisions would help policyholders understand exactly what coverage they have. Dale hopes to have the provisions included in policies by April, though …
