An attorney is facing sentencing in Connecticut for his role in an insurance fraud scheme. Joseph Haddad of Orange, Conn., is scheduled to be sentenced on Thursday, July 10, in federal court in Bridgeport, Conn. Prosecutors say Haddad, a Bridgeport-based …
The largest ever volume of non-life catastrophe bonds was issued during the second quarter of 2014 (Q2), according to a report by Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings. The Willis report on insurance-linked securities found …
A federal judge has upheld a jury’s $2.26 million wrongful death award against the Marion County Sheriff’s Office in a case where two deputies shot and repeatedly shocked a suspect. The Ocala Star-Banner reported that U.S. District Court Judge William …
State troopers say overall fatalities on South Carolina roads in 2014 are similar to last year’s totals, but they are seeing a significant increase in deaths of people on mopeds. Highway Patrol Lt. Kelley Hughes told The Greenville News that …
ACE Limited announced that it has reached a definitive agreement to acquire the large corporate property and casualty (P&C) business of Itaú Seguros, S.A. from Itaú Unibanco S.A. for approximately $685 million. ACE noted that upon completion of the transaction …
Insurers Hiscox Ltd., Beazley Plc and Catlin Group Ltd. are reaping the benefits of the U.S. market, according to a report from SNL Financial. SNL data shows how the three companies with significant participation in the Lloyd’s of London market …
The Global Catastrophe Recap report for June from Aon Benfield’s Impact Forecasting highlights the outbreak of severe thunderstorms that affected Western and Central Europe during the first half of the month, causing significant hail damage in parts of Germany, France …
Amlin plc announced that it has “reached non-binding agreement in principle to increase its existing interest in Leadenhall Capital Partners LLP (LCP),” an investment manager in (re)insurance-linked securities, which Amlin established in a joint venture with LCP’s individual partners in …
Typhoon Neoguri is currently roiling the waters of the Western Pacific, south of Okinawa. The latest weather reports indicate that it is an immense storm and is gaining strength with sustained winds of 140 mph [225 km/h]. Neoguri is a …
Helvetia Holding AG agreed to buy a majority stake in Nationale Suisse in a transaction valuing the company at about CHF1.8 billion ($2 billion) to create Switzerland’s third-largest insurer. Helvetia is offering CHF80 [$89.50] in cash and shares for Nationale …
