December 2, 2015
Ascot Underwriting Ltd., the London-based Lloyd’s managing agency, has appointed Simon Kimberley as chief underwriting officer of Ascot Underwriting (Bermuda) Ltd. Kimberley transferred to AUB in 2014 as underwriter and was formerly an underwriter with Ascot’s treaty team in London. …
November 23, 2015
Activist investor Carl Icahn said he may propose adding a new director to American International Group’s board, since AIG Chief Executive Peter Hancock was unlikely to “sincerely consider” his suggestion to split the company into three. Icahn disclosed on Monday …
November 10, 2015
A change to the list of globally systemically important insurers (G-SIIs) suggests the potential for being added to or removed from the list could play a significant role in setting strategy for some major insurers, according to Fitch Ratings. The …
November 5, 2015
An Arkansas federal jury has awarded an oil company nearly $72 million in damages from lost income and expenses stemming from a 2012 breach of a pipeline carrying oil from Louisiana to Arkansas. In litigation heard in federal court in …
November 3, 2015
Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali SpA was removed. The updated list of nine too-big-to-fail insurers …
November 3, 2015
American International Group, Inc. has announced an initial $4 million investment with Clemson University to develop a risk engineering and analytics center and to establish the Robert Benmosche Endowed Professorship in Risk Engineering and Systems Analytics, in honor of the …
October 16, 2015
ASSA Compañía Tenedora, S.A. and ASSA Compañía de Seguros (ASSA) will acquire 100 percent of American International Group’s Central American operations in El Salvador, Guatemala, Honduras and Panama in a share purchase agreement, the companies announced. The transaction is subject …
October 5, 2015
Global insurers with the greatest ties to the financial system would face an average increase of 10 percent to capital requirements under new standards proposed by a group of regulators. The increase would be as high as 18.75 percent for …
September 16, 2015
The Insurance Company of the State of Pennsylvania (ICSOP), a subsidiary of the American International Group (AIG), has agreed to pay $430,000 to settle allegations that it sold unauthorized health insurance to Massachusetts consumers and failed to cover mandated benefits …
August 27, 2015
The professional indemnity and directors & officers insurance sector has grown constantly since 2012 and is expected to continue the upward trend until at least 2019, according to the findings of a new report by London-based business intelligence company, Timetric. …