Fairfax Financial Holdings, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for some $1.88 billion to become one of the top five underwriters on the Lloyd’s of London market. Watsa, …
American International Group announced the opening of four new branches in the Sultanate of Oman. They are to be located in Nizwa, Ibri, Salalah and Sur, and “will allow AIG to further expand its business in the Sultanate where it …
ACE Group has appointed Martin Stankiewicz as head of sales and distribution, Nordics, as it continues to strengthen its insurance capabilities and team in the region. Stankiewicz has also joined ACE’s local management team. In this newly created role, Stankiewicz …
Towergate Finance plc said it has enough creditor support to restructure 1 billion pounds ($1.5 billion) of debt in U.K. courts. The plan was agreed by more than 75 percent of the insurance broker’s secured and unsecured debt holders, the …
Does Google help criminals by allowing its search engine to lead to pirated music or by having its autocomplete function suggest illegal activities? Mississippi’s attorney general suspects the company does and wants to investigate further, yet the Internet giant says …
The first full year of North Carolina’s captive insurance program has “exceeded expectations,” according to a statement from North Carolina Insurance Commissioner Wayne Goodwin. While he’s pleased with the progress, Goodwin nevertheless plans to recommend changes to the law in …
Two workers who were injured on the job have filed a legal challenge over changes to Oklahoma’s workers’ compensation laws that were approved by the Republican-controlled Legislature in 2013. The constitutional challenge was filed Feb. 13, and the plaintiffs are …
Specialty insurance brokerage firm, Alliant Insurance Services, has added two veteran producers to its energy and marine group in Houston, Texas. Executive Vice President Cran Fraser and Vice President Ted Dimitry will be responsible for business development and the delivery …
A federal judge has dismissed a New Orleans-area levee authority’s lawsuit charging oil and gas companies with destroying Louisiana’s coastal wetlands. The lawsuit was filed by the Southeast Louisiana Flood Protection Authority-East in 2013 against nearly 100 oil and gas …
Dallas-based SCA Promotions Inc., a specialist in insuring prizes, promotions and contests, announced that Lance Armstrong has been hit with a $10 million sanctions award by an arbitration panel hearing his dispute with the insurer. SCA filed suit against Armstrong …
