The AIA Group has lost a key official less than three weeks after its parent American International Group raised $20.5 billion in an initial public offering (IPO) of the unit. Chris Wei, AIA’s chief marketing officer, had resigned, an AIA …
Lloyd’s of London notes that “after almost a decade of development regulators are now putting the finishing touches to Solvency II, new rules governing European insurers’ capital adequacy. The regime is set to modernize the way European insurers are supervised, …
Aon Benfield has issued a briefing on uncommon European winter storm tracks in conjunction with the University of Cologne. The research points to a lower total number of events in the future, but “indicates intense storms moving over the North …
Zurich Financial Services Group announced that it has entered into a definitive agreement to sell back to Spanish insurer Unnim its 50 percent stakes in the life and general insurance bancassurance companies jointly owned with Unnim. Zurich said the “agreement …
Willis Group Holdings announced the appointment of Mike Lack as an Executive Director of its London-based downstream energy team, effective immediately. He will report to Justin Blackmore, Managing Director of Willis Energy Downstream. Lack has over 40 years experience in …
France’s AXA Group held its Autumn Investor Seminar in Paris on Monday, at which members of the insurer’s management team presented an update on its growth and capital management strategy, as well as the priorities of its Life & Savings …
The Hartford announced plans to invest $7 million over five years to help redevelop the Asylum Hill section of Hartford, Connecticut, headquarters to the insurer for nearly a century. That investment includes $2 million to help the city purchase and …
Boston-based AIR Worldwide announced that UIB Asia Reinsurance Brokers Pte Ltd, a subsidiary of UIB International/UIB Holdings UK Ltd, has licensed AIR’s catastrophe risk management systems. “UIB is an independent, multilingual insurance and reinsurance broker headquartered within the London Market …
The National Transportation Safety Board is faulting Massachusetts for not doing enough to combat what they call “hardcore” drunken drivers. The NTSB said Massachusetts is among 10 states in the country that have adopted four or fewer of 11 drunken …
New Jersey’s largest auto insurer is issuing dividend checks averaging $107 to its policyholders. New Jersey Manufacturers Insurance Company began issuing the checks on Monday. The Ewing-based company says the checks will be mailed through mid-December. The company insures 415,000 …
