March 30, 2017
ProTucket Insurance Company has become the first Rhode Island domestic insurer to be formed specifically for providing run-off portfolio transfer solutions. The move has been made possible under new state legislation which will allow companies to transfer their insurance business …
March 30, 2017
MassMutual Southern New England in Warwick, R.I., and MassMutual Northern New England in Bedford, N.H., have merged with Commonwealth Financial Group (CFG), a Boston, Mass.-based comprehensive financial planning firm. CFG, a general agency of Massachusetts Mutual Life Insurance Company, was …
March 30, 2017
Exxon Mobil Corp.’s attempt to derail a multistate fraud probe into whether the company fully disclosed to investors the financial risks of climate change was dealt a major blow after a Texas judge moved the case from its home turf …
March 30, 2017
XL Catlin’s insurance operations announced the appointment of Isa Ennadifi as senior underwriter, Structured Risk Solutions (SRS). She is based in London. The SRS team is a global underwriting unit that provides XL Catlin’s clients with customized solutions for large …
March 30, 2017
The heist of $81 million from the Bangladesh central bank’s account at the New York Federal Reserve last year was “state-sponsored,” an FBI officer in the Philippines, who has been involved in the investigations, said on Wednesday. Lamont Siller, the …
March 30, 2017
Bedbugs in hotel rooms and aggressive peacocks are some of the creatures behind an uptick in animal-related insurance claims filed by U.S. businesses, according to a study published on Thursday by insurer Allianz SE . U.S. claims involving bedbugs increased …
March 30, 2017
AIG UK announced it has entered into a partnership with VUEcloud Ltd., a UK software technology provider to the commercial motor industry, to provide an enhanced claims service to motor fleet customers by harnessing cloud-based technology. The new service, powered …
March 30, 2017
Yachtpod Risk Partners has launched as an underwriting cell on the Castel Underwriting Agencies Ltd.’s MGA formation platform to offer dedicated superyacht insurance on a worldwide basis. Yachtpod specializes in providing a “one-stop” shop for superyacht owners, captains and managers …
March 30, 2017
Brussels expects to lure other financial players after convincing Lloyd’s of London, the world’s largest specialty insurance market, to make the city its post-Brexit European hub. While Lloyd’s choice on Thursday surprised some, lower rental prices and its proximity to …
March 30, 2017
Lloyd’s reported 2016 pretax profit of £2.1 billion pounds ($2.6 billion), level with 2015, despite a worsening of the market’s combined ratio at 97.9 percent, compared with 90.0 percent in 2015. Return on capital was 8.1 percent in 2016 compared …