IAG, Lloyd’s Insurance Australia Group Ltd. acquired a newly-formed Lloyd’s managing agency and specialist Asian syndicate, Alba Group Pte Ltd., to “support the development and management of its expanding Asian business.” CEO Michael Hawker commented: “Acquiring Alba puts us in …
An Australian company, Sinclair Insurance Co. Ltd. is selling bogus amusement ride and professional liability products in Kentucky without a certificate of authority from the state, according to the Kentucky Office of Insurance in Frankfort. The practice was uncovered due …
Public policymakers are considering cost containment measures to bring the costs of prescription drugs used to treat injured workers more into line with similar costs in group health or government insurance programs, according to an analysis by the Workers Compensation …
A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Australia’s Guild Insurance Limited (GIL), with a stable outlook. “The ratings reflect GIL’s improving risk-adjusted capitalization, continued profitability and satisfactory …
The Boston-based Liberty Mutual Group plans to enter the Turkish market with the purchase of a majority stake in Seker Sigorta A.S. Liberty Mutual signed an agreement on June 16 with Sert Holding A.S. for the acquisition of a majority …
Euler Hermes, the Paris-based international credit insurer, has signed a letter of intent with Lumley General Insurance to acquire its credit insurance activities in Australia and New Zealand. Euler Hermes’ bulletin described Lumley General, a subsidiary of the Australian Group …
Praetorian, Alea North America Specialty insurer Praetorian Financial Group agreed to acquire Alea North America Specialty Insurance Co., an affiliate of Alea Group Holdings Ltd. of Hamilton, Bermuda. The sale is subject to regulatory approval and other customary conditions. Alea …
Insurance Australia Group Limited (IAG) announced that it has acquired a newly-formed Lloyd’s managing agency and specialist Asian syndicate, Alba Group Pte Limited, to “support the development and management of its expanding Asian business.” CEO Michael Hawker commented: “Acquiring Alba …
This time around the AXA Group and Credit Suisse lost no time in coming to an agreement to sell Winterthur, the Swiss bank’s insurance division, to the French insurer for CHF 12.3 billion (around $10 billion – €7.9 billion). The …
An Australian company, Sinclair Insurance Co. Ltd. is selling amusement ride and professional liability insurance products in Kentucky without a certificate of authority from the state, according to the Kentucky Office of Insurance in Frankfort. The practice was uncovered after …
