Insurance Australia Group (IAG) has rejected an A$7.4 billion (US$6.9 billion; €4.3 billion) unsolicited bid from rival QBE Insurance Group Ltd. as inadequate, the companies said Tuesday. IAG’s response to QBE’s bid sets the tone for what could be a …
Pricing is projected to be favorable for traditional property catastrophe reinsurance programs when insurers seek mid-year renewals, according to an analysis conducted by Aon Re Global, a unit of the Aon Corporation. “While terms and conditions are expected to continue …
A report from Willis notes that “over the last 18 months, pirate attacks have become more prevalent off the horn of Africa than in the traditional hot spot of the Malacca Straits. This is particularly worrying for Danish shipping companies …
“Winter storms in Europe are like London buses,” says an article on the Lloyd’s web site (www.lloyds.com) – “You don’t see any for a while and then along come two or three, one behind the other.” The four month European …
A South Carolina workers’ compensation exclusivity statute did not bar an employee from filing claims for invasion of privacy and false imprisonment in a psychiatric hospital, according to a U.S. District Court ruling. In the case background, U.S. District Judge …
South Carolina officials and property owners along the eroding beach at Wild Dunes have agreed to a fine of $18,000 for the thousands of sandbags that ended up littering the state’s coast and marshes after storms last spring. The South …
Steven Fabricant, a 16-year industry veteran, will join American E&S Insurance Brokers‘ San Francisco branch. Most recently with AmWINS in San Francisco, Fabricant’s book of business has included all types of construction, small to mid-size contractors, and heavy products for …
The nation’s bank holding companies experienced a slight increase of 0.5 percent in their total insurance revenue from $43.5 billion in 2006 to $43.7 billion in 2007. Citigroup Inc. (N.Y.), Wells Fargo & Co. (Calif.), HSBC North America Holdings (Ill.), …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of National Fire & Casualty Company (NF&C) of Bloomington, Ill., a subsidiary of WBL Corp., and has revised the outlook …
Neither Standard & Poor’s Ratings Services nor A.M. Best Co. anticipate making any ratings changes as a result of Joseph Brandon’s leaving his post as CEO of General Reinsurance Corp. S&P rates Gen Re ‘AAA’; Best rates it ‘A++’ – …
