A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the main UK operating subsidiaries of the UK’s RSA Insurance Group plc. Best also withdrew …
A new London-based broker, Q360, has been launched with Tawa providing the capital backing. Q360 Ltd will initially operate within the business sectors of onshore energy, property, binding authorities, professional indemnity and non-recourse finance construction. The new wholesale firm will …
Swiss Re reported net income of $2.6 billion for the full-year 2011, despite what it described as “an exceptional natural catastrophe burden” – a strong performance compared to the $863 million reported for 2010. Its combined ratio for the year …
The battle for control of Italian insurer Fondiaria-SAI heated up on Wednesday when two private equity funds tabled a rival offer to one brokered by top investment bank Mediobanca to rescue the troubled insurer by merging it with peer Unipol. …
NAS Insurance Services named Michael Palotay as senior vice president of underwriting. Palotay has been with Encino, Calif.-based NAS since 2009, managing production and strategy for the NAS underwriting department. He joined NAS as assistant vice president to develop a …
Walnut Creek, Calif.-based Heffernan Insurance Brokers named Tyler Eliopoulos to its San Francisco office as assistant vice president, focusing on mid-sized business opportunities in the Bay Area. Eliopoulos joins Heffernan after a stint at another brokerage. Heffernan Insurance provides insurance …
A new study says 51 percent of the insurance carriers recently surveyed expect to increase staff in the next 12 months. But it’s not all good news: the survey also found that 19 percent of the carriers expect to reduce …
Texas insurance regulators are seeking a consultant to explore options for restructuring the insurer of last resort for properties along the Texas coast. The Texas Department of Insurance has issued a request for proposal (RFP) seeking assistance in identifying, evaluating …
Fresno County authorities are offering $100,000 for information leading to an arrest in last month’s arson attack California’s biggest beef processor. Sheriff’s officials announced the reward Tuesday. The Jan. 8 fire destroyed 14 big-rig tractors and several trailers at Harris …
Court-ordered talks have yielded settlements in 41 lawsuits involving drug companies blamed for supplying an anesthetic to Las Vegas medical clinics where health officials say patients contracted incurable hepatitis C through unsafe injection practices including the reuse of large vials, …
