ACE USA, the U.S.-based retail operating division of the ACE Group, has appointed Teresa Black as senior vice president of distribution management. Black returns to ACE in this new role, and will work collaboratively with ACE USA’s regional teams across …
Aspen Insurance Holdings Limited announced this week Mario Vitale, who has been serving as co-CEO of Aspen Insurance division alongside Rupert Villers, will become the sole CEO of the division, effective July 1. Vitale will also remain as president of …
The property/casualty industry appears to have sufficient reserves, but older reserves continue to develop adversely in 2011, according to analysis by Conning Research & Consulting. “Our view of the property/casualty insurance industry reserve position is that it has deteriorated slightly …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings of “a” of the members of MAPFRE USA Group are unchanged following the recent market volatility surrounding Spain’s economic conditions, derived from …
Private U.S. property/casualty insurers’ net income after taxes rose to $10.1 billion in first-quarter 2012 from $7.8 billion in first-quarter 2011, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus climbing to 7.2 …
A fatal boat crash off Long Island, New York, is prompting a safety initiative.The Coast Guard and local law enforcers are part of the renewed effort to target unsafe conditions for boaters and residents off the coast of Long Island …
More than 73,000 Dominion Virginia Power customers in the Richmond area remain without electricity following a powerful storm that blew over trees, damaged buildings and downed power lines. Media outlets report that the damage included at least three skyboxes and …
Liberty Mutual Insurance Group announced that Liberty Videocon General Insurance Company Ltd, a joint venture between Liberty Mutual Insurance Group and Videocon Industries Ltd., has received the necessary license from India’s insurance regulatory authority to commence its operations. The operation …
A.M. Best Europe – Rating Services Limited has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of MAPFRE RE, Compania de Reaseguros, S.A. are unchanged following the recent market volatility surrounding …
Swiss Re’s latest sigma study concludes that “global overall premiums declined 0.8 percent in real terms in 2011. While non-life premiums expanded 1.9 percent on solid economic growth in emerging markets and selective rate increases in some advanced markets, global …
