The head of bailed-out insurance giant American International Group on Wednesday said the company was on its way to repaying the government, but a U.S. Treasury official said taxpayers could still face losses. AIG is operating with $132 billion in …
A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of Ironshore Inc. ,based in the Cayman Islands, and the financial strength rating of ‘A-‘ (Excellent) and ICRs of “a-” of its operating subsidiaries. These include Ironshore Insurance …
This year is on track to be the warmest worldwide since records began in the 19th century, yet voters seem to be cooling to strong action to combat climate change. Their doubts may be quietly sapping the will of governments …
A chorus of opposition is growing against Prudential Plc’s bold $35.5 billion takeover of American International Assurance (AIA), with analysts from Singapore to London flagging risks to the deal just weeks ahead of the critical shareholder vote. Many analysts have …
Willis Group Holdings has appointed Scott Pickering as CEO, Russia, Eastern Europe, the Middle East and South Africa, effective immediately. He will be based in the Al Futtaim Willis office in Dubai and will report to Sarah Turvill, Chairman and …
While price is a key motivator in the auto insurance shopping process and final purchase decision, its impact on new-buyer satisfaction has declined, compared with one year ago, according to a new industry study. The J.D. Power and Associates 2010 …
The Texas Department of Insurance has filed a proposed rule that would prohibit the use of discretionary clauses in life, accident, and health insurance policy forms. The proposed rule was filed as a result of an October 2009 request from …
Bailed-out insurance giant American International Group has slashed its exposure to credit derivatives by nearly two-thirds under government ownership, but a full recovery for taxpayers remains uncertain, a senior U.S. Treasury official said on Wednesday. Jim Millstein, the Treasury’s chief …
The Arkansas Supreme Court has affirmed a lower court order certifying class action status in a case involving an insurer’s depreciation practices in property claims against “actual cash value” homeowners policies. In Farmers Union Mutual Insurance Company v. Randall and …
Independent agents and brokers want more carriers to offer real-time functionality, according to a new industry survey. Agents believe those carriers will deliver the greatest benefit in making real time the predominant workflow in their agencies. Participants from every state, …
