French insurer AXA and BNP Paribas, a major French banking group, have reached an agreement for the establishment of a partnership on the Ukrainian P/C insurance market. AXA will acquire from BNP Paribas’ subsidiary UkrSibbank a 50 percent stake in …
The U.K. will soon join a number of other EU countries in imposing a draconian ban on smoking in public places. As of July 1, lighting up in “all enclosed spaces,” including pubs, clubs and workspaces, will be prohibited. As …
Standard & Poor’s Ratings Services has assigned preliminary credit ratings to the €411.6 million ($551 million) asset-backed floating-rate notes to be issued by a French “fonds commun de créances (FCC), FCC SPARC Europe (Senior).” The transaction involves the securitization of …
Standard & Poor’s Ratings Services announced that it is “undertaking a review of the preference stock and other hybrid equity issues of the following seven insurers and reinsurers: ACE Ltd. (A-/Stable/A-2), Arch Capital Group Ltd. (BBB+/Stable/–), Aspen Insurance Holdings Ltd. …
Toby’s Family Foods of Springfield, Ore., is recalling two products because of the risk of salmonella contamination. The company said it is recalling 353 units of Toby’s Lite Sour Creme and Toby’s Toasted Sesame Dressing that were distributed primarily in …
The Independent Nevada Doctors Insurance Exchange has proposed a 15 percent rate decrease for medical professional liability in Nevada, according to the state’s Insurance Division. If approved by the DOI, the rate decrease would apply to new and renewal policies …
Colorado Insurance Commissioner Marcy Morrison has issued a statement saying her department’s review of rate filings by two insurers has saved consumers almost $4 million. According to the Department of Insurance, The Hartford Insurance Group proposed a 2.2 percent decrease …
The California Assembly has approved a bill requiring insurance companies to get approval by the Department of Managed Health Care or the Department of Insurance before they can increase the amount of their premiums, copayments, coinsurance obligations, deductibles, and other …
The Professional Insurance Agents of Washington/Alaska (PIA) recently elected Rich Biggs as its new president and elected a new board of directors at its 41st Annual Conference and Trade Show. New officers and directors include: President Rich Biggs of Biggs …
The Chartered Property Casualty Underwriters Society Los Angeles Chapter has installed new officers and directors for the 2007-2008 year. New officers include President George Wallace of Wallace & Schwartz; President-Elect Theresa Ulbricht of Marsh Risk & Insurance Services; Vice President …
