Liberty Mutual Insurance has formed a $1 billion risk-sharing agreement with the Overseas Private Investment Corp. (OPIC), the U.S. government’s development finance institution, which furthers the company’s diversification strategy in a market when organic growth is hard to find. The …
Peak Reinsurance Co., the Hong Kong-based reinsurer, announced it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd., to provide collateralized retrocession for part of Peak Re’s global property reinsurance risk portfolio. …
The U.K. can unilaterally reverse the Brexit process, the European Union’s top court said in a landmark ruling that will fuel the campaign to thwart the divorce on the eve of a possible make or break vote in the British …
Uber could owe tens of millions of dollars to Georgia if the state is successful in a legal battle. The Georgia Department of Revenue has billed Uber $22.1 million for sales taxes and other charges that it maintains are owed …
AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Bankers Insurance Co., headquartered in St. Petersburg, Fla., and its property/casualty subsidiaries, Bankers …
Allied American Underwriters (AAU), a division of USG Insurance Services, Inc., has hired Stan Connally as producer/broker for Workers Compensation in the Tampa, Fla., branch. Connally joins AAU with 36 years of experience in the insurance industry, specializing in workers …
South Carolina’s congressional delegation will be able to ask for more funds to provide relief following Hurricane Florence, thanks to a move by the state’s governor. In a letter obtained Saturday by The Associated Press, Gov. Henry McMaster told U.S. …
Winter Storm Diego struck the Southeastern region of the U.S. Saturday night, ravaging travel plans and wiping power from hundreds of thousands of homes. The snowstorm was expected to persist throughout Sunday, with flight cancellations extending into Monday. More than …
On Friday Dec .7, Markel Corp. said it was fully cooperating with inquiries by U.S. and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd., the company’s investment manager, and its …
A new report shows the average return on net worth for California workers ‘ compensation insurers rose to 9.9 percent in 2017, the fourth consecutive increase. The report comes from the National Association of Commissioners and was summarized in an …
