Bermuda-based reinsurer Validus Holdings took its $3.2 billion offer to buy Transatlantic Holdings, Inc. directly to shareholders on Monday, after rejecting its rival’s conditions for merger talks. It was the second time in two years that Validus launched a hostile …
Willis’ monthly airline insurance insight report indicates that “the insurance market has remained remarkably stable for airlines, with no change in the drivers of capacity and claims. “The experience of 2011 continues to demonstrate the uncertain nature of airline insurance, …
A.M. Best Co. announced that Stefan Holzberger has joined A.M. Best Europe – Rating Services Limited as managing director, analytics. He will be based in London and will report directly to Roger Sellek, CEO – A.M. Best EMEA & Asia …
New York businesses are being told they have to help pick up the tab for interest the state owes on federal unemployment insurance loans. The state Department of Labor says the maximum payment will be $21.25 per employee, due by …
Gov. Chris Christie has signed legislation that calls for the phasing in of a sharp increase in the state’s unemployment tax rate. Proponents say that will spare businesses from having to immediately pay a hefty boost in the rate. The …
San Antonio’s third-largest locally owned banking institution and 111-year-old insurance and risk management agency Sanger & Altgelt have agreed to a merger, effective immediately, the companies announced. All Texas regulatory approvals have been received. A new entity, Sanger & Altgelt …
Iowa insurance companies have been given more time to comply with a new federal rule designed to curb insurers’ profits. The regulation that went into effect this year calls for insurance companies to spend at least 80 percent of premiums …
Officials say federal and state disaster assistance for victims of North Dakota flooding has gone over the $50 million mark. The money includes grants and low-interest loans. It has gone to residents in Barnes, Burleigh, McHenry, Morton, Ramsey, Renville, Richland …
Five men who pleaded guilty in a $100 million fraud scheme that claimed about 800 victims nationwide were sentenced Friday to federal prison terms ranging from three years to more than 15 years. The five included the co-founder and the …
President Barack Obama has declared a major disaster in Wyoming because of spring and summer flooding, opening the way for the federal government to help the state pay for costs incurred from damaged roads, highways and other infrastructure. The counties …
