February 13, 2008
C.V. Starr & Co. reports it will begin offering management liability lines of insurance coverage on behalf of Allied World National Assurance Co. The target market will be commercial middle market risks including not-fo-profit organizations, private companies and public companies …
February 13, 2008
Lloyd’s and London Market insurer Ascot Underwriting Ltd. has announced several new appointments to their operating units: Ascot Renewco, Ascot Asia, and Cargo teams. Alex Lumby, Chief Underwriter and Principal Officer of Ascot Asia, is returning to London to lead …
February 13, 2008
The Bermuda-based Arch Capital Group Ltd. reported that net income available to common shareholders for the 2007 fourth quarter was $234.4 million, or $3.31 per share, compared to $239.3 million, or $3.12 per share, for the 2006 fourth quarter. Net …
February 13, 2008
Bermuda- based Validus Holdings Limited reported net income for the quarter ended December 31, 2007 of $139.0 million, or $1.77 per diluted common share, compared with $69.1 million, or $1.16 per diluted common share, for the quarter ended December 31, …
February 13, 2008
France’s AXA Group has concluded an agreement to purchase 100 percent of the share capital of the ING Group’s Mexican insurance subsidiary ING Seguros, for $1.5 billion (app. €1 billion). ING Seguros is the third largest Mexican insurer with approximately …
February 13, 2008
Republican Mike Chaney said he spent around $1 million to win the Mississippi insurance commissioner’s race in 2007. “It’s obscene to spend that much money on an election for a job that pays less than $100,000 a year,” Chaney said, …
February 13, 2008
As victims, emergency officials and insurance adjusters picked through the remnants of Tennessee homes destroyed by last week’s fatal storms, a better estimate of the extent of damage across the state has been reached. In Macon County, search and rescue …
February 13, 2008
A former Tennessee Farmers Mutual Insurance Co., employee accused of stealing $2.4 million pleaded guilty in federal court in Greeneville, Tenn. Court records show Mickey R. Kendrick pleaded guilty to one count of embezzlement by an agent or employee of …
February 13, 2008
Lafayette County, Miss., officials expect losses from this past week’s tornadoes to run into the tens of millions of dollars. Lloyd Oliphant, president of the Lafayette County Board of Supervisors, said the most recent figures he had seen estimated $25 …
February 13, 2008
A federal prosecutor urged a jury in Hartford on Monday to follow the money and convict five former insurance company executives of a scheme to manipulate the financial statements of the world’s largest insurer. “The defendants knew the true deal …