California’s insurance commissioner today announced that a rate reduction of 10.7 percent has been approved for GEICO’s California auto insurance policyholders. The GEICO rate decrease will come into effect on Aug. 15, according to a press release from Commissioner Dave …
Major European banks have limited their losses on Greek bonds to just over €5 billion [$7.2 billion] after negotiating a 21 percent haircut on their debt holdings as part of a rescue plan. France’s BNP Paribas is set to take …
World leaders who oppose a global agreement to tackle climate change are making a similar mistake to the one made by politicians who tried to appease Adolf Hitler before World War Two, a British government minister said on Thursday. Energy …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Spain’s MAPFRE RE, Compania de Reaseguros, S.A. However, Best’s outlook on both ratings remains negative. The ratings …
Willis Group Holdings announced that, effective immediately, Scott Pickering, President of Willis’ Asia Pacific, Middle East and Africa operations, will assume the additional role of Chairman, Willis Australasia. Pickering joined Willis in 2010 after working for RSA Insurance as Regional …
Specialist insurance broker BMS Group announced that its results for the year ended December 31, 2010, show a “strengthening of financial resources and a share buyback,” which will “support BMS’ expansion strategy in the US and London, as well as …
London-based Aon, the risk management business of Aon Corp. in the UK, announced that it has “demonstrated its commitment to reducing its green house gas (GHG) emissions by become the first company in the insurance industry in the world to …
According to new research issued by financial services market research consultancy Finaccord, the market for extended warranties and insurance related to mobile and non-mobile consumer products in Europe was worth around €5.58 billion [$8 billion] in 2010. This breaks down …
A powerful explosion caused extensive damage to government buildings in the Norwegian capital Oslo. At least two people have reportedly been killed by the blast and 15 have been injured. Rescue teams, hampered by fires, are still searching the damaged …
The state of Wisconsin has reached an agreement with the Wisconsin Medical Society over the repayment of a fund set up to pay medical malpractice claims that was raided in 2007 to help balance the budget. The agreement signed calls …
