When Peregrine Financial collapsed earlier this month, a nagging question resurfaced. As in the implosion of Lehman Brothers, the fall of Bernard Madoff and other cases in recent years, many asked: Where were the accountants? That this question still arises …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Nigeria’s Continental Reinsurance Plc, both with stable outlooks. Best said the ratings of Continental Re “continue to …
HSBC’s chief executive apologized on Monday for shameful and embarrassing mistakes made on anti-money laundering controls as the bank set aside $2 billion to cover the cost of U.S. investigations and compensate UK customers for mis-selling. Europe’s biggest bank reported …
Bermuda-domiciled Hiscox reported its interim results for the 1st half of 2012. The following are selected highlights from the report, as calculated in dollars; the original report gave the figures in pounds. 1st Half 2012 1st Half 2011 Gross premiums …
Aon announced mixed results in its second quarter earnings report. While “organic revenue growth” rose 4 percent, contributing to a $2.8 billion total, Aon said “net income attributable to Aon shareholders decreased 5 percent to $246 million, or $0.73 per …
Zurich in North America has increased its trade credit insurance capacity to meet the needs of customers across the globe. For customers in the short term trade credit segment, Zurich has increased capacity for an individual buyer from $82.5 million …
A man accused of fatally injuring a motorcyclist while he was speeding and texting is facing manslaughter charges in a case that could fuel efforts to ban texting while driving in South Dakota’s largest city. Authorities say 21-year-old Brent O’Neal …
Prosecutors say a fourth man has pleaded guilty in a Texas-based insurance scam linked to a deadly New York tour boat accident. Investigators in Houston say Robert Steve Mills of Bonita Springs, Fla., pleaded guilty to conspiracy to launder money. …
Nearly a third of the prescriptions the state’s insurance fund for injured workers paid for last year were for powerful narcotics, part of a 37 percent increase in the use of such drugs — mainly addictive painkillers — the agency …
Hastings Mutual Insurance Co., a regional property/casualty insurance carrier based in Hastings, Mich., has welcomed new President, CEO, and Chairman Joseph J. Babiak Jr. Babiak joined Hastings Mutual in 2001 as the chief financial officer. During the past three years, …
