Tower Group International Ltd. said that it has paid $70 million that was outstanding to its Bank of America credit facility using proceeds from the sale of a stake in Canopius Group Limited. Tower Group, Inc., a wholly owned subsidiary, …
A threat to America’s health insurance overhaul has been that young people would not buy coverage in new marketplaces, possibly pushing the program into a disastrous spiral of falling enrollment and rising premiums. But this worst-case scenario is looking more …
A fifth of U.S. motorists who drink say they’ve driven at least once in the past year when they thought their alcohol level might’ve been close to the legal limit or above it, a safety group said. About 19.5 percent …
Insurance holding company W. R. Berkley Corp. has named John M. Littzi as vice president and senior counsel, where he will responsible for the legal aspects of business development transactions, alternative investments and general corporate matters. The appointment is effective …
BP Plc asked a U.S. judge to stop payments in the $2.3 billion seafood-industry portion of its settlement over the 2010 Gulf of Mexico oil spill pending an investigation of fraud claims against a plaintiffs’ attorney. BP yesterday also sued …
An analysis from Stuart Shipperlee, Analytical Partner at Litmus Analysis, notes that following S&P’s initial downgrade last month, “RSA faced a further risk to its rating without fresh equity. This reflected the fact that even prior to its recent problems …
According to preliminary estimates from Swiss Re’s latest sigma report, insured losses from natural catastrophes and man-made disasters in 2013 are estimated to be around $44 billion, down from $81 billion in 2012. Insured losses from natural catastrophes are at …
Willis Group Holdings announced that Sarah Turvill will retire as Chairman of Willis International at the end of 2013, and that she has been appointed as a Non-Executive Director to the Willis Limited Board, effective in January 2014 and subject …
Sompo Japan Insurance Inc., a unit of Japan’s third-largest casualty insurer group by market value, confirmed earlier reports that it will buy Canopius Group Ltd. of the U.K. for 99.2 billion yen ($963 million) as it expands beyond its aging …
Court records say a Catawba County couple has received a $1 million settlement from a Mooresville daycare after their infant son stopped breathing and suffered brain damage. The Charlotte Observer reported that a lawsuit says the 4-month-old son of Richard …
