Europe’s insurers are able to withstand even a major financial crisis, an EU watchdog said on Tuesday, boosting industry hopes for less onerous regulation. EU insurance watchdog CEIOPS, (the Committee of European Insurance and Occupational Pensions Supervisors) unveiled the long-awaited …
France’s AXA Group announced that it will file a Form 25 with the U.S. Securities and Exchange Commission to voluntarily delist its American Depositary Shares (ADS) from theNew York Stock Exchange. AXA said the “last trading day of the ADS …
Bermuda-based Allied World Assurance Company Holdings has announced a number of senior-level promotions effective March 1, 2010. In Bermuda, Tracey Gibbons was promoted from Vice President, Casualty Treaty Reinsurance to Senior Vice President, Specialty Reinsurance. Marchelle Lewis was promoted from …
The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2009 global underwriting results for its 23 members, who write insurance and reinsurance from underwriting centers in Bermuda, Europe and the U.S. The announcement noted that the “23 (re)insurers …
The Chubb Group of Insurance Companies has expanded its wildfire defense services to homeowner policyholders in Texas. In addition to providing wildfire education and property risk assessments, the program responds to wildfires through a network of certified wildfire fighters and …
In response to the trend towards use of more energy efficient and environmentally friendly “green” products and materials, The Mutual Service Office, Inc. (MSO) has introduced a green upgrade supplemental coverage endorsement for its commercial property program. Highlights of the …
The number of deaths on Pennsylvania’s highways has plunged to its lowest level since Model Ts still chugged along the roads of the commonwealth, and officials are crediting years of safety programs but cannot rule out an assist from the …
Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their customers. Sen. Chris Dodd, D-Conn., unveiled his “Restoring American …
The Colorado House has passed a bill that requires a motor vehicle insurance company to be appointed as an insured person’s agent in a lawsuit arising from an accident in which the at-fault driver is deemed to be “uninsured.” House …
Moody’s Investors Service announced it has affirmed the A3 rating on the California Earthquake Authority’s 6.169 percent fixed rate Series 2006-B revenue bonds (mature July 20, 2016) and changed the rating outlook to negative from stable. In its assessment, the …
