Former Pennsylvania State University President Graham Spanier filed notice of plans to sue Louis Freeh, the former FBI director whose university-commissioned probe placed Spanier at the center of a cover-up of ex-football coach Jerry Sandusky’s sex abuse. The claims in …
San Bernardino should be allowed to stay in bankruptcy, bond insurer Ambac Assurance Co. and a bondholder owed $50 million said in court papers opposing other creditors’ efforts to strip the California city of federal court protection. Ambac and Erste …
The medical benefits portion of BP Plc’s settlement over the 2010 Gulf of Mexico oil spill is “substantively unfair” and approval of the accord should be reversed, lawyers opposing the agreement told an appeals court. The settlement, reached last year …
A.M. Best Europe – Rating Services Limited has placed under review with negative implications the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Torus Insurance (Bermuda) Limited, Torus Insurance (UK) Limited and Lichtenstein-based …
AIR Worldwide reports that “days of heavy rain across the mountainous Yunnan and Sichuan provinces of southwestern China have caused widespread flooding and triggered landslides. Official reports state that 99 centimeters (39 inches) of rain fell in the city of …
Swiss Re Ltd., the world’s second- biggest reinsurer, said it’s in preliminary talks about combining its Admin Re business with Phoenix Group Holdings. “There is no certainty that these discussions will lead to any transaction,” the Zurich-based reinsurer said in …
New China Life Insurance Co. fell by the most in almost a year in Hong Kong after Zurich Insurance Co. sold 97.5 million shares in the third-biggest Chinese life insurer by premium income last year. The stock dropped 6.4 percent, …
Taiwan is bracing for a direct hit by Typhoon Soulik early tomorrow, prompting precautionary evacuations due to the risk of landslides, and airlines predicting high winds that would disrupt flights. Soulik may make landfall in northeastern Yilan or eastern Hualien …
Lloyd’s insurer Advent has named Nigel Fitzgerald as chief executive officer. The company said the appointment completes his planned transition to the CEO role since his arrival at Advent in November, 2012 as chief operating officer. Fitzgerald succeeds James Migliorini, …
Toledo, Ohio-based insurance brokerage, Hylant, recently promoted Kevin O’Donnell to Global Practice Executive (GPE). He is based in Hylant’s Detroit, Mich., office. In his new role, O’Donnell will be responsible for the development, growth and vision of Hylant’s global practice. …
