Everest Indemnity Insurance Company, a U.S. insurance subsidiary of the Bermuda-based Everest Re Group, has started writing business through its newly opened Environmental Insurance underwriting office located at its headquarters in Liberty Corner, NJ. The new facility enhances the Company’s …
A.M. Best Co. has placed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer ratings (ICR) of “a-” of Tower Group Companies and its members, Tower Insurance Company of New York and Tower National Insurance Company (TNIC) under review …
Swiss Re joined the ranks of European insurers and reinsurers, who have been impacted by the global financial crisis. The world’s biggest reinsurer reported a 53 percent drop in second quarter net income to CHF 564 million ($536 million), compared …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that its net income in the second quarter increased to $41.9 million, or $0.49 per diluted share, compared to $14.7 million, or $0.17 per diluted share, for the quarter ended June 30, 2007. Basic …
A fierce but short-lived tornado has left at least three people dead in northern France. Inhabitants of four regions are assessing the damage after the tornado collapsed some homes and uprooted trees along its path. The tornado swept through the …
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the second quarter of 2008 of $231 million, or $1.47 per diluted common share, compared with $252 million, or $1.51 per diluted common share, for the second …
Aon has issued a bulletin urging European Union insurers to “learn from the work undertaken by their banking colleagues in implementing the Basel II accord and start preparing for Solvency II now.” The statement follows a roundtable discussion, hosted by …
Willis Group Holdings has announced three senior appointments at Willis Re, the company’s reinsurance arm. The bulletin said the “appointments are designed to accelerate the unit’s global progress against Willis’ Shaping our Future strategy, a series of initiatives designed to …
The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended June 30, 2008, of $74.2 million, or $1.26 per fully diluted share, compared to net income of $94.1 million, or $1.45 per fully diluted share, for …
Montana State Auditor John Morrison’s office has launched a new auto insurance training program for teen drivers. The program, called “The Road to Understanding Auto Insurance,” is free to high school instructors that teach driver’s education courses and will inform …
