Standard & Poor’s Ratings Services has published updated assumptions for assessing European insurance hybrid capital instruments (see “Assumptions: Implications Of Solvency II Proposals For Our European Insurance Hybrid Criteria”). “We published the new criteria to clarify several areas, said the …
The company that insured a historic inn in western North Carolina is refusing to pay for damages from a fire, saying someone associated with the owners is responsible for the blaze. The owner has accused former employees of the Richmond …
Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5 percent stake in Prudential, but Qatar does not …
American International Group said it would sell its 13.8 percent stake in reinsurer Transatlantic Holdings Inc, worth about $500 million at Thursday’s closing stock price. AIG, nearly 80 percent owned by the U.S. government, said on Friday that its American …
Ping An Insurance, China’s No. 2 insurer, said on Friday it was not concerned about a plan by Britain’s Prudential to buy the Asia assets of U.S. insurer AIG, the market leader among foreign insurers in China. Ping An does …
A bill that would have increased employer penalties for workplace safety violations died in the Wyoming State Senate. House Bill 93 had come out of a worker safety task force Gov. Dave Freudenthal appointed last year to address the state’s …
Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on Feb. 27.” However, Fitch added …
The Washington State Senate has approved a flood insurance bill that would allow the insurance commissioner to create a market assistance plan and, if necessary, a joint underwriting association if the flood insurance market in state’s Green River Valley collapses. …
The family of a Massachusetts woman who died shortly after doctors started a cosmetic surgery procedure on her has sued the national company that was overseeing the operation. The lawsuit filed Wednesday in Middlesex Superior Court by the family of …
CRM Holdings Ltd., a specialty provider of workers’ compensation insurance products, announced it had a net loss of $19 million in the fourth quarter of 2009. In the same period in 2008, the compnay had a net loss of $6.2 …
