Global investment manager D. E. Shaw group has organized a Bermuda-based holding company to acquire James River Group, Inc. a North Carolina- based excess and surplus and workers’ compensation insurer, in a transaction with a total equity value of approximately …
Federal officials have cited two companies with 23 health and safety violations and proposed fines totaling more than $32,000 in connection with the explosion that destroyed a paint and ink factory in Danvers, Mass. in November, the U.S. Occupational Safety …
Insurance broker Marsh Inc. has named Mark C. McGivney as chief financial officer. McGivney joins the firm from the Hanover Insurance Group, where he was senior vice president of finance, corporate treasurer and chief financial officer for the company’s property/casualty …
American International Group Inc. has settled with a federal banking regulator allegations that it charged homeowners excessive mortgage fees and didn’t properly consider their credit ratings. AIG, an insurance giant that also runs a home mortgage business, said last Friday …
Privacy groups are sounding alarms as the nation’s largest insurance companies finalize plans to allow millions more customers to post their health records on the Internet. Insurers like Hartford-based Aetna Inc. say Web-based tools help patients and physicians keep track …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of the New York-based AmTrust Group. The ratings also apply to Bermuda-based AmTrust International Insurance, Ltd. (ALL); New Hampshire’s …
Dublin-based Research and Markets has added a report on UK Directors and Officers Insurance 2007 to their offering. R&M described the study as providing “a detailed discussion of the state of the UK directors and officers insurance market in 2006.” …
Standard & Poor’s Ratings Services has assigned its ‘A-‘ long-term counterparty credit and insurer financial strength ratings to PARIS RE (France) and PARIS RE Switzerland Ltd. At the same time, S&P lowered to ‘A-‘ from ‘AA-‘ its long-term insurer financial …
The UK’s Royal & SunAlliance has appointed Timothy Mitchell to the newly created post of Group Underwriting & Claims Director with responsibility to direct the development of underwriting and claims strategies and capabilities, reporting directly to Group CEO, Andy Haste. …
Lloyd’s announced that it has reached a settlement with brokers Aon and Benfield of litigation centering on the placement terms of the New Central Fund insurance policy, issued in 1999. Benfield made a similar announcement. The policy, underwritten by Swiss …
