The board of directors of Lebanon Mutual Insurance Co. of Cleona, Pa., has adopted a plan to convert the insurer from a mutual to a stock organization. Under the plan, Lebanon will convert from a Pennsylvania mutual insurance company to …
Swiss Re announced that it has successfully structured and placed €200 million ($294 million) of securities covering windstorm events in France. The deal forms part of a three-year reinsurance agreement between Swiss Re and Groupama S.A. Swiss Re Capital Markets …
Bermuda’s XL Capital Ltd’s reinsurance operations, XL Re, announced that certain of XL’s operating companies, referred to as the “Ceding Companies,” have entered into a quota share reinsurance treaty with a newly-formed Bermuda reinsurance company, Cyrus Reinsurance II Limited, a …
Central Europe isn’t the only place in the world that faces earthquake threats (See related article). The Insurance Bureau of Canada has issued a call for the creation of an ongoing working group between the insurance industry and the provincial …
In a special report A.M. Best Co. warns that “lurking beneath Central Europe are numerous faults that rarely break the ground surface but that still could lead to large scale catastrophe losses for insurers and reinsurers.” As a result Best …
Australians battled both fires and some of the worst flooding in decades Monday that stranded residents in several communities after days of intense summer heat and storms. Bureau of Meteorology hydrologist Gordon McKay said some parts of New South Wales, …
New York drivers are increasingly finding themselves going in circles, and it’s not because they’re lost. Following a national trend, state transportation planners are actively turning right-angle intersections into roundabouts, derided by many but proven in a national study to …
The New York fire department’s average response time decreased last year for the second consecutive year even as the number calls increased slightly, the fire commissioner announced Sunday. The citywide average response time for all incidents was 4 minutes and …
SAN DIEGO, January 8, 2008 – Insurance Journal’s MyNewMarkets.com has sold out all gold and silver level sponsorships of it’s inaugural MyNewMarkets.com Exchange Conference scheduled for February 15, 2008 at the DoubleTree Hotel in Orange, Calif. Billed as an “Insurance …
Two Smiths, Ala., men have been charged on arson and burglary charges in connection with three church fires that occurred since Jan 1, State Fire Marshal Ed Paulk announced Monday. Geoffrey Parquette, 21, was charged with two counts of arson …
