ACE UK announced the appointment of Matthew Shaw as President, ACE Global Markets (AGM) and Active Underwriter for Lloyd’s Syndicate 2488. In addition, subject to Lloyd’s and FSA approval, he will become a member of the Board for both ACE …
Goodbye AIG, hello Aon. The Chicago-based giant announced that the new Manchester United home uniforms now feature its logo. Aon took over from AIG officially on June 1 as the principle sponsor of the famous football (soccer) team [See IJ …
Insurers are urging the House of Representatives to pass legislation today that would extend the National Flood Insurance Program (NFIP) for five years. The measure, HR 5114, the “Flood Insurance Reform and Priorities Act of 2010”, sponsored by Representative Maxine …
The Bermuda-based Argo Group International Holdings announced that it expects to report in its 2010 second quarter financial results “approximately $20 million to $25 million of estimated pre-tax loss provisions, net of reinsurance and reinstatement premium, related to spring storms …
Warren Buffett’s Berkshire Hathaway Inc. will take over asbestos and environmental pollution risks now held by CNA Financial Corp. in exchange for a $2 billion fee. CNA, which is the nation’s seventh-largest commercial insurer and 90 percent-owned by conglomerate Loews …
Specialty insurer Markel Corp., has struck a deal worth at least $135 million to acquire Aspen Holdings, which sells workers’ compensation under the name FirstComp to small businesses in 31 states. Aspen, which is headquartered in Omaha, Nebraska, operates primarily …
Three insurance brokers from Maryland have pleaded not guilty to charges that they bilked the city of Perth Amboy, N.J., out of more than $216,000 by collecting payments for a nonexistent wellness program for city workers. Francis X. Gartland of …
Insurance broker Marsh has appointed three industry veterans to its new Global Rail practice. Jim Beardsley joins the unit as Global Leader. Joining him are Jim Wolfarth as senior vice president, Casualty, and John Raymond as senior vice president, Property. …
Pittsburgh-based Allied Insurance Brokers has rebranded its wholesale brokerage division as Ascinsure Specialty Risk, which will specialize on insurance solutions for crane owners and operators, rental equipment and party goods dealers, scaffolding and inland marine markets. “Our broker department has …
New York-based specialty insurer NYMAGIC will be acquired by ProSight Specialty Insurance Holdings Inc. The deal is worth approximately $230 million, with stockholders receiving $25.75 per share in cash — a premium of 23.5 percent to NYMAGIC’s closing price yesterday …
