Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd., has stopped writing new coverage, and its …
AssuredPartners Inc. announced that it has acquired the business of Archer A. Associates Insurance, an independent agency based in Franklin Square on Long Island, New York. Terms of the transaction were not disclosed. The team of 21 employees at Archer …
Insureon, an online agency for small business insurance, said it has expanded its leadership team to include Brandon Hickey as president of Insureon Brokerage and Mark Thompson as senior vice president, Product Excellence. A 30-year veteran of the insurance industry, …
Citing increased regulation of credit rating services and heightened competition in information services, A.M. Best has restructured its operations to separate its rating and research services from its publications and other information products. The reorganization creates a new subsidiary, A.M. …
Swiss Re announced that Frank O’Neill has been appointed CEO of the company’s UK & Ireland business, effective Feb. 1. O’Neill has been the CEO of Swiss Re’s Middle East and Africa business for the past three years. He replaces …
French insurer CNP Assurances has entered exclusive talks with Grupo BTG Pactual SA to buy its 51 percent stake in Brazilian insurer Pan Seguros, two sources familiar with the matter said on Tuesday. CNP Assurances has offered 1.6 billion Brazilian …
Product delivery-by-drone in urban areas may be possible within a few years if the U.S. government and the aviation industry agree to work cooperatively on the new technology, the chief of Google Inc.’s drone cargo project said Monday. The swift …
Guy Carpenter & Co. has established an EMEA Advisory Council to support its growth plans in the region. The council is specifically designed to provide advice and to inform the EMEA regional leadership’s strategy and its implementation, said Guy Carpenter …
Brit Ltd. announce the renewal and expansion of the collateralized reinsurance capacity provided by the Bermuda domiciled special purpose insurer Versutus Ltd., in support of Brit’s property treaty portfolio for 2016. The special purpose insurer will be capitalised at $82.5 …
Aegon NV jumped the most in almost six years after saying it plans to buy back 400 million euros ($432 million) of shares and cut costs to improve its return on equity. The Dutch owner of insurer Transamerica Corp. announced …
