More than half of in-scope market risks were placed electronically in the London and Lloyd’s markets during the second quarter, surpassing targets placed on the Platform Placing Ltd. (PPL) and other recognized electronic placement systems. The target for this quarter …
Almost four months ago, the bankrupt estate of Sears Holdings Corp. sued Eddie Lampert and U.S. Treasury Secretary Steven Mnuchin over allegedly wrongful transfers of $2 billion in company assets. Now lawyers representing the two men have asked the federal …
Bond insurance company MBIA Inc. sued several financial institutions on Thursday over their role in underwriting billions of dollars of Puerto Rico bonds that eventually went into default. The lawsuit filed in superior court in San Juan claimed the banks …
The property insurance market loss from the Australia’s Townsville floods, which affected northern Queensland, Australia, between Jan. 26 and Feb. 10, 2019, has risen to A$1.22 billion (US$827.1 million), according to PERILS, the independent Zurich-based organization that provides catastrophe insurance …
Markel Corporation has named John Lecci as senior director of Professional Liability. He will be heading up the New York-based US Professional Errors & Omissions team. Lecci was most recently employed by Axis, where he was responsible for underwriting management …
A Wilmington, Del., woman was indicted by the New Castle County Grand Jury for insurance fraud and other felony charges. Theresa T. Milton was indicted on seven felony counts of insurance fraud, one felony count of theft by false pretense …
AM Best has assigned a financial strength rating (FSR) of A (excellent) and the long-term issuer credit rating (long-term ICR) of “a+” to Reamstown Mutual Insurance Company. The outlook assigned to these credit ratings is stable. Concurrently, AM Best has …
The European Union faces an urgent challenge in tackling an outbreak of African swine fever which threatens Bulgaria’s pig breeding industry, a Commission spokeswoman said on Thursday. Ten EU nations are currently affected by African swine fever, with particularly bad …
Germany’s forests – long a source of pride and national identity – are feeling the heat. A second consecutive year of unusually dry and warm weather has left swaths of dead and dying trees, fueling fears that the storied woods …
The death toll from a typhoon in eastern China rose to 32 on Sunday, with 16 people missing, state broadcaster CCTV reported, as the country braced for more travel disruptions as the storm moved further north up the coast. Typhoon …
