Typhoon Nesat hit Hainan Island in south China on Thursday after it swept past Hong Kong, closing financial markets, schools and most businesses in one of Asia’s largest financial centers. China recalled ships and suspended flights and ferry services in …
European insurers Allianz and AXA SA are among the potential bidders for HSBC Holdings Plc’s sale of its general insurance business, which could fetch more than $1 billion, sources familiar with the matter told Reuters. HSBC , Europe’s biggest bank, …
Xchanging, the London-based business process and technology services provider and integrator, announced that it has “gained full control of Xchanging Broking Services Limited, the Enterprise Partnership it formed with Aon Limited.” The consolidation follows Aon’s decision to exercise “the put …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued a bulletin indicating that Australian and New Zealand insurers, who were hit with “catastrophic events” in 2010 and 2011, had “nearly two-thirds of the losses reinsured.” …
A national safety group is urging states and regulators to adopt new standards that would ban a pipe-cleaning practice blamed for a 2010 Connecticut power plant explosion that killed six workers. The National Fire Protection Association’s new standard, published a …
New York Attorney General Eric Schneiderman announced the arrest of an alleged scam artist, Arthur Bogoraz, who officials contend devised a massive scheme to defraud insurance companies out of millions of dollars. Bogoraz has allegedly defrauded no-fault insurance providers by …
Property insurer Chubb Corp. Wednesday warned it would report up to $475 million in pretax catastrophe losses in the third quarter, most of it coming from late August’s Hurricane Irene. Chubb said $300 million to $375 million of the $400 …
The Pennsylvania Department of Labor & Industry announced relief measures for State Workers’ Insurance Fund (SWIF) policyholders affected by flooding caused by Tropical Storm Lee. “Helping employers rebuild is an important part of the state’s economic recovery,” Department Secretary Julia …
San Diego, Calif.-based Align Financial Group LLC has partnered with private equity firm Excellere Partners, of Denver, to form Personable Holdings Inc., an independent, non-standard auto insurance provider. Personable Holdings recently acquired the non-standard auto insurance operations of Align General …
Summit Business Media has sold its insurance financial information unit. Another financial information firm, SNL Financial, said it has acquired the Summit Business Media insurance information services unit, Highline Data, which resells insurance company data from regulatory agencies. Terms were …
