As indicated in the previous article, Validus Holdings has made an unsolicited offer to combine with IPC Holdings Ltd. in response to the Agreement and Plan of Amalgamation between IPC and Max Capital Group Ltd. Standard & Poor’s Ratings Services …
Fortis NV Wednesday postponed a shareholder vote until April 28-29 on the sale of its former banking arm to BNP Paribas SA, casting fresh doubt over whether it can complete the deal. Fortis investors, who blocked BNP’s purchase of 75 …
A new report from Willis Re, entitled “Conserving Capital – 1st View,” concludes that the “majority of reinsurers reported relatively positive results and some underwriting profit despite poor investment returns in 2008, outperforming the wider financial services community. As a …
Munich Re announced that it has successfully concluded the acquisition of specialty insurer HSB Group from US insurer AIG for $739 million (€555 million). The deal was originally announced last December Munich Re said the transaction “was formally completed on …
Swiss Re has announced cost cutting moves aimed at saving around CHF 400 million ($349 million) “by the end of 2010.” It plans to layoff around 10 percent of its global workforce in order to achieve the reductions. The reinsurer …
The North Dakota Insurance Department’s office at 1701 South 12th Street has reopened. The office was closed Wednesday and Thursday, March 25 and 26, after flood water surrounded the building, making it inaccessible.
A magnitude 4.3 earthquake struck near Santa Clara Valley Calif., this week near Mt. Hamilton, revealing a fault scientists did not know existed, according to the U.S. Geological Survey in Menlo Park, Calif. According to its summary of the event, …
A bill that would trump a Florida Supreme Court ruling and restore a cap on attorneys’ fees in workers’ compensation cases passed the Florida House after some mild debate. Following a second round of discourse on the issue in just …
Georgia Insurance Commissioner John Oxendine blasted his Republican rival for governor, accusing Lt. Gov. Casey Cagle of putting politics ahead of consumers. Oxendine said that the state Senate budget slashes his office’s $1.9 million consumer services division. He blamed Cagle …
Leaders of the U.S. Senate Judiciary Committee said Wednesday they had reached agreement on key elements of a bill to revise U.S. patent law. One of the changes would require judges hearing patent infringement cases to play a gatekeeper role …
