UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …
A bankruptcy judge has approved a $2.5 million deal involving the cleanup of a massive 2014 chemical spill in West Virginia. The order July 8 by U.S. Bankruptcy Judge Ronald Pearson says the agreement is in the best interests of …
Munich Re’s ERGO Insurance unit may cancel its planned 90.1 million euro ($100 million) acquisition of Greece’s ATE Insurance SA if the country doesn’t return to stability. “Depending upon how the political situation develops, it is possible that we will …
The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although (re)insurers operating in the economic bloc are well positioned to withstand a continued period of volatility, according to a briefing published by A.M. …
Willis Group Holdings plc announced two senior appointments to lead its Asia regional operations in Affinity marketing and SMEs, and human capital and benefits (HCB). David Chan is now Asia Head of Affinity and SMEs, and Cedric Luah is Asia …
A bulletin from Bermuda notes that the island’s parliament took regulatory action this week to align its regulatory insurance procedures, which it hopes will lead to “recognition by the European Commission as being fully equivalent under the insurance prudential regulatory …
Sandell Asset Management Corp., the activist hedge-fund firm, amplified its criticism of PartnerRe Ltd. for shunning the unsolicited $6.8 billion takeover offer from EXOR SpA that would break up the reinsurer’s planned merger with AXIS Capital Holdings Ltd. “We believe …
JLT Specialty Insurance Services Inc., a U.S. subsidiary of Jardine Lloyd Thompson Group plc. has appointed Joe Addison as executive vice president and member of the U.S. Executive Committee. Addison will be based in Atlanta where he will oversee the …
Nails deteriorated by years of exposure to the sand, salt and moisture from the ocean gave way, causing a deck collapse that hurt 24 people as they posed for a picture at a North Carolina beachfront home, authorities said. The …
The Insurance Managers Association of Cayman (IMAC) has appointed Razaak “Raz” Busari as deputy head of the Insurance Supervision Division. Busari officially started in his post June 22, 2015, bringing with him more than 15 years of experience and expertise …
