The parent company of Maine-based Northeast Bank Insurance Group has raised $16.2 million in new investment it says will be used to expand its insurance, banking and financial services divisions. Northeast Bancorp says the group of investors will also purchase …
A Lafayette, La., insurance agent has been arrested, and served with a cease and desist order, license revocation and fine notice for alleged misappropriation, misrepresentation and forgery, the Louisiana Department of Insurance reported. Joseph Stephen Buck, 26, was arrested by …
The Hartford Financial Services Group, Inc. said it has repaid the U.S. government for its bailout by repurchasing all of The Hartford’s preferred shares issued to the U.S. Department of Treasury under the Capital Purchase Program (CPP), also known as …
A ban on alcohol along popular canoeing and rafting rivers in south Mississippi’s Pike County is illegal, the attorney for two outfitting business told the state Supreme Court this week. Alfred L. Felder of McComb, representing Ronnie Perry of Gator’s …
Accounting firm KPMG LLP won dismissal Wednesday of a lawsuit stemming from its audits of a “feeder fund” into confessed swindler Bernard Madoff’s ponzi scheme. In an opinion Wednesday Judge Thomas Griesa, of the U.S. District Court in Manhattan, said …
The Federation of European Risk Management Associations (FERMA) announced that it is presently conducting, “a wide-ranging, risk management benchmarking survey,” aimed at compiling data to let insurers know “what their major commercial insurance customers in the UK and across Europe …
Marsh announced that it has completed its previously agreed acquisition of HSBC Insurance Brokers Limited (HIBL), a wholly owned subsidiary of HSBC Bank plc, in the UK and other key markets in Asia and the Middle East. The deal was …
Standard & Poor’s Ratings Services announced that it has revised the outlooks on the various operating entities of Switzerland’s Zurich Financial Services (collectively ZFS) to stable from negative. ZFS includes Swiss-based Zurich Insurance Company Ltd. (ZIC), Ireland-based Zurich Insurance PLC, …
A bulletin from Marsh’s London office warns that “firms in the United Arab Emirates (UAE) could fall foul of new corporate governance rules and corporate discipline regulations unless they adopt a more systemic approach to managing risk The new regulations, …
Marsh announced the appointment of Ricardo Brockmann as CEO of Marsh in the Latin America and Caribbean region, effective immediately. He is currently the CEO of Marsh Mexico and a 30-year Marsh veteran. He will report to Alex Moczarski, president …
