Meeting for the first time since the summer recess, the New Jersey Assembly Commerce and Economic Development Committee this week debated several bills proposing reforms in the way corporations conduct business. The seven-bill package, sponsored by Assemblyman Patrick Diegnan, D-Middlesex, …
The New York Giants and Jets have canceled negotiations on stadium naming rights with a German insurance company that once had ties to the Nazis. Allianz had been seeking a deal to put its name on the stadium being built …
American International Group Inc. shares plummeted in early trading Tuesday after the insurer’s credit ratings were cut, jeopardizing efforts to raise cash necessary for its survival. In pre-market trading, AIG shares were down $1.83, or 38.4 percent, at $2.93. They …
A.M. Best Co. has made an announcement concerning its financial strength ratings (FSRs) and its issuer credit ratings (ICRs) on American International Group and a number of its subsidiary companies. These actions are summarized as follows: — AIG’s domestic life …
“All natural catastrophe (nat-cat) bonds share some common features, but indemnified nat-cat bonds are much more closely related to the practices of the ceding company than non-indemnified structures,” said Standard & Poor’s Ratings Services in a report published today – …
The Bermuda-based Catlin Group Limited announced that Michael Hansen has been appointed president of Catlin Canada Inc., based in the Calgary office. Hansen most recently served as vice president and Western regional manager for Catlin Canada in Calgary. He also …
Zurich Financial Services Group announced that it has named Thomas Buberl, a 35-year old German citizen, as the new CEO of Zurich Switzerland, effective January 1, 2009. He will join Zurich on November 1, 2008, and, after a two month …
Following Ike’s march through Texas, S&P noted that the preliminary estimates of insured losses “vary from $6 billion to $18 billion. (These figures include onshore and offshore exposure.)” Before discussing the possible negative effects on earnings of the recent spate …
Lockton announced that “Stephen Reid has agreed to join Lockton as Chief Operating Officer with responsibility for the Retail division in London which encompasses the Corporate Risk Solutions, Profin & Affinity operations.” He has extensive management and large retail client …
A bulletin on the Lloyd’s web site (www.lloyds.com) notes that the National Association of Insurance Commissioners (NAIC) has confirmed it will meet “to consider the proposal to end collateral requirements before the end of this month.” Lloyd’s has led the …
