Mitsui Sumitomo at Lloyd’s has affirmed its commitment to grow its Marine Liability business with the appointment of Simon Engelen as Class Underwriter. Engelen will join Mitsui Sumitomo at Lloyd’s later this year when he leaves his current role as …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Bermuda-based Heddington Insurance Limited, both with stable outlooks. The ratings reflect Heddington’s” superior capitalization, consistently positive operating results and the role …
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods. The bulletin explained that by “using event footprints that outline the extent of the flood enables insurers to …
RenRe and Affiliates A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Renaissance Reinsurance Ltd. (RenRe) and Renaissance Reinsurance of Europe, based in Dublin, Ireland. Best also has …
Bermuda’s premier is not ready to sign an international transparency convention that he said Britain’s prime minister had planned to achieve ahead of the G8 summit in Northern Ireland next week, potentially scuppering a broad deal. Bermuda’s Premier Craig Cannonier …
Companies have for some time been diversifying, and sometimes curbing, their appetite for multimillion-dollar sports sponsorships, so an enterprising insurance company president saw that trend as an opportunity to get his company’s name out there in a big way. Encompass …
A former Charlottesville, Virginia, insurance agent has been sentenced to seven months behind bars for duping customers who believed they were buying insurance from him. The U.S. Attorney’s Office says 32-year-old Graham Hutson Messer of Bremo Bluff was sentenced in …
New York State’s financial regulators issued a report today that found a widespread use of captive, reinsurance entities by New York-based life insurance companies. Calling these arrangements “shadow insurance,” the report said life insurers used their captive entities, often based …
New Orleans officials have unveiled a five-year economic development plan targeting key industries, creating jobs and strengthening the economy through workforce training and support programs for small businesses. The Times-Picayune reports the initiative, called ProsperityNOLA, was developed by a task …
Indiana’s fire deaths have surged to 54 so far this year, giving the state more fire fatalities in just over five months than all of last year – a troubling increase the state’s top fire official said he’s at a …
