Liberty Mutual Group reorganized its commercial property, casualty and specialty lines insurance units as well as claims and loss control services for the insurer’s national accounts and mid-sized business clients. The new distribution and service organization will provide agents and …
Louisiana Gov. Bobby Jindal, U.S. Sen. Mary Landrieu, D-La., and U.S. Congressman Charlie Melancon, whose district has been severely affected by the BP oil well spill, are “cautiously optimistic” about reports from BP that it has stopped the oil that …
UK-based Broker Miller Insurance Services Limited, which specializes in both insurance and reinsurance, announced a number of senior appointments to its reinsurance business unit. Former Guy Carpenter Managing Director Adrian Stewart will join Miller to “help lead the expansion of …
Moody’s downgraded Ireland’s sovereign bond rating by one notch to Aa2 on Monday, citing weaker growth prospects and the high costs of rebuilding the country’s crisis-hit banking system. The rating agency, which cut Ireland from Aa1, said the outlook was …
A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb” from “a-” of New Zealand’s Consumer Insurance Services Limited (CISL), both with stable outlooks. The ratings reflect CISL’s” …
WTO member states must find answers to bilateral squabbles if they want to achieve any global breakthrough in free trade talks, Canada’s trade minister said Friday. In an interview with Reuters, Peter Van Loan said he would not point fingers …
The U.S. Securities and Exchange Commission said Friday it created three expert units to focus on big financial companies, complex securities and securities offerings. The new offices within the division of corporate finance largely mirror the industries and products that …
Bailed-out insurer American International Group named former Prudential plc Chief Executive Mark Tucker as head of its Asia life insurance business, AIA, and said it would seek to list AIA on the Hong Kong stock exchange. The abrupt removal of …
Federal disaster grants totaling more than $3 million have been approved to help businesses and residents slammed by storms and flooding in southern West Virginia last month. The Federal Emergency Management Agency says the aid is primarily for temporary housing …
Impact Forecasting, Aon Benfield’s catastrophe model development center, has launched the first fully functional Asian typhoon model to span the continent. “The new model will help insurers analyze the financial implications of typhoons and develop reinsurance programs based on scientific …
