Great American Insurance Group Cincinnati, Ohio-based Great American Insurance Group’s environmental division opened a regional office in New York City. The expansion complements the environmental division’s home office located in Plymouth Meeting, Penn., and its regional office in San Francisco. …
The Hanover The Hanover Insurance Group Inc. is launching a second region in the Western U.S. A newly created Pacific region will be led by David Kuhn, who has joined Hanover as regional president. This new territory includes branch offices …
The Bermuda-based Arch Capital Group announced that it has officially acquired Ariel Re’s Credit & Surety reinsurance operations based in Zurich, as previously announced. The closing occurred at the same time as the acquisition by Goldman Sachs of Ariel Re’s …
The Goldman Sachs Group and Ariel Holdings Ltd announced that Ariel Holdings has completed the sale of Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations to Goldman Sachs, pursuant to the Acquisition Agreement announced on March 1, 2012. The purchase price …
Zurich Financial Services Group has announced that the name change from Zurich Financial Services Ltd to Zurich Insurance Group Ltd “has become effective upon entry in the commercial register of the canton of Zurich.” Shareholders had previously approved the name …
Insurance software company Applied Systems announced plans to open a Canadian data center in the third quarter of 2012, in order to provide “additional data storage for the growing number of insurance brokers who choose online broker management systems and …
Bermuda-based Validus Holdings, Ltd. announced the capitalization of PαCRe, Ltd., a new Class 4 reinsurer. “PαCRe has been formed to combine the attractive returns available from underwriting top layer reinsurance programs with a long term approach to asset management,” said …
The Insurance Australia Group Limited (IAG) announced that its 49 percent-owned Malaysian associate, AmG Insurance Berhad, has received regulatory approval for a possible acquisition of Kurnia Insurans (Malaysia) Berhad, the principal general insurance business of Kurnia Asia Berhad. IAG first …
A.M. Best Co. announced rating actions on both New Zealand’s AMI Insurance Limited, or the old AMI, and AMI Insurance (Operations) Limited, or the new AMI, following a substantial restructuring of the company in the wake of the earthquakes which …
A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating to ‘A-‘ (Excellent) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “a-” from “a” of UK-based Brit Insurance Limited (BIL), and has placed the ratings …
