The delicate threads that hold modern life together are dramatically cut by an unexpected threat from outer space, with disastrous effects. It’s the stuff of science fiction usually associated with tales of rogue asteroids on a collision course with earth. …
Europe’s biggest insurer, Allianz SE, is worried about the role central banks may have played in an interest rate rigging scandal that has enveloped some leading international lenders, the insurer’s chief financial officer said on Friday. “We do not find …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Plc, announced the appointment within its facultative division of Paul Summers as Global CEO of Aon Benfield Fac, effective immediately. He reports to Dominic Christian and Michael Bungert, co-CEO’s. …
Tropical Storm Ernesto is continuing along the track forecast by the National Hurricane Center in Miami, as it crosses the southern Caribbean, heading towards Mexico’s Yucatan Peninsula. The most recent NHC bulletin said maximum sustained winds were 50 mph, 85 …
A.M. Best Co. has commented that the issuer credit rating (ICR) and debt ratings of Tower Group, Inc. (TWGP), as well as the financial strength rating and ICRs of its insurance subsidiaries are unchanged. Best made the announcement following TWGP’s …
Selected earnings highlights in US dollars from the Bermuda-based Catlin Group for the first six months of 2012 are as follows: 1st Half 2012 1st Half 2011 Gross premiums written ———— $3.010 bn $2.683 bn Net premiums written ————— $2.258 …
An insurance agent from Butte, Mont., who pleaded guilty to stealing more than $7,200 of his client’s premiums has been given a three-year deferred sentence and ordered to pay restitution. State Insurance Commissioner Monica Lindeen says Jeremy Hoscheid pleaded guilty …
New York State’s Department of Financial Services announced on July 23 that it has licensed Build America Mutual Assurance Company (BAM) to operate as the first mutual bond insurer serving the U.S. municipal market and guaranteeing state and municipal debt. …
Small business is alive and well, despite the gloomy, reports we read about the weak national economy. To be more specific, small businesses started by ethnic minorities is booming. The niche where we have first-hand experience with this phenomenon is …
Tightened Focus, Leaner Agency Force Leads Insurer into its Next Century Evaluate, evolve, sharpen focus, create value. That’s how a group of executives at one Midwest-based property/casualty insurance company summarized the organization’s ability to grow and thrive through a century …
