The Zurich Financial Services Group announced that it has completed an important step in the rationalization of its Group holding legal entity structure. The bulletin explained that “part of the overall legal restructuring” involved merging Zurich Group Holding (ZGH), “the …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on United Arab Emirates (UAE)-based composite insurer Oman Insurance Co. (PSC) to ‘BBB’ from ‘BBB+’. The ratings remain on CreditWatch with negative implications, where …
The Association of Bermuda Insurers and Reinsurers (ABIR) has elected a new slate of officers for the 2010 and 2011 term. The bulletin said that, as of the beginning of the new year, “Michael Butt, Chairman of the Board of …
The National Association of Insurance Commissioners (NAIC) today presented Dr. Raymond Spudeck, senior research economist with the Florida Office of Insurance Regulation, with the organization’s most prestigious individual honor. Spudeck was presented the Robert Dineen Award at the NAIC Winter …
Standard & Poor’s Ratings Services has revised its outlook on White Mountains Insurance Group Ltd. (WTM), OneBeacon Insurance Group Ltd. (OB), and the members of OneBeacon Insurance Group (OneBeacon) to stable from negative. S&P also affirmed its ‘BBB’ counterparty credit …
A Minnesota woman who became severely ill from an E. coli infection after eating a tainted hamburger has sued a division of agribusiness giant Cargill Inc. for $100 million. Stephanie Smith, 22, of Cold Spring, became ill in September 2007 …
AIG is soliciting bids for its International Lease Finance Corp. after a group led by the unit’s chief offered to buy a small portion of the aircraft lessor’s fleet, according to sources familiar with the matter. American International Group Inc. …
More than 100 Oklahomans are struggling to find health coverage after learning an insurance company was taking their premiums with no intention of paying claims. Insurance Commissioner Kim Holland said the main company, American Trade Association, sold fake health insurance …
American International Group Inc., the bailed out insurer beset by executive pay restrictions, has parted ways with its head of human resources, leaving open a key vacancy in the midst of fragile pay negotiations with Washington. AIG confirmed the departure …
That fraudulent insurance claims related to a severe hailstorm that hit the city of El Paso, Texas, on Sept. 16 are on the rise comes as no surprise to Ray Niblett. Niblett, an investigator for the National Insurance Crime Bureau …
