A.M. Best Co. has commented that the ratings and outlook of Cayman Islands-based Ironshore Inc. and its operating subsidiaries are unchanged following the resignation of the company’s chief underwriting officer (CUO), Les Rock. Ironshore’s operating subsidiaries include the Bermuda-based Ironshore …
Aspen Insurance Holdings has reported a third quarter 2008 net loss after tax of $116.7 million, compared with a net profit after tax of $117.2 million in Q3 2007. Operating earnings per share also posted a loss in the third …
A bulletin from Marsh’s London office warns that “mounting fears of a UK recession among businesses have led to a sharp increase in the sale of trade credit insurance policies.” Marsh added, however, “the protection available from insurers is becoming …
Coface, the Paris-based business specialist, has issued a bulletin, which notes that the “credit crisis is spreading throughout Europe amid a deepening financial crisis, leading to a sudden squeeze in banking credit, plunging confidence levels, and a slowdown in activity.” …
Insurance holding company Fairfax Financial Holdings Ltd. said on Thursday that its quarterly net income jumped 85 percent as investment gains outweighed catastrophe losses in its underwriting business. The company said net income was $467.6 million, or $25.27 a diluted …
The tsunami that killed 230,000 people in 2004 was the biggest in the Indian Ocean in some 600 years, and it has lessons for the Pacific Northwest, geologists said. Geologists say the long gap between tsunamis in the Indian Ocean …
San Mateo County Calif., has decided to sue executives at the bankrupt investment firm Lehman Brothers Holdings Inc., claiming they misled investors about the firm’s financial health. The Board of Supervisors agreed to retain the Burlingame, Calif., law firm Cotchett …
As 59-year-old Richard Krikalo lumbers through the office of a junkyard he helps manage, he bumps into a desk and clips a wastebasket with his right leg. Krikalo is almost blind in his right eye and has trouble with depth …
November is the peak month for vehicle-deer collisions, and a new analysis of insurance claims and federal crash data indicate the problem is growing. The Highway Loss Data Institute (HLDI), an affiliate of the Insurance Institute for Highway Safety (IIHS), …
If a magnitude 7.0 earthquake occured on California’s Hayward Fault today, it would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured, according to a study by Newark, Calif.-based …
