Zurich-based Converium Holding Ltd. announced that it has agreed in principle to sell its shareholdings in its Danish subsidiary Nordic Aviation Insurance. The buyer is reportedly Australia’s QBE, however, neither Converium nor QBE have confirmed this. Nordic Aviation Insurance is …
The Liberty Mutual Group announced form its Boston headquarters that its Portuguese subsidiary, Liberty Seguros Portugal, has signed a memorandum of understanding with insurer Acoreana to form a strategic alliance in the Portuguese insurance business. Liberty said that once the …
In a recently issued bulletin Lloyd’s said it has “reaffirmed its position as the world’s leading specialist insurer with new figures that reveal the global spread of its business in 2005.” According to newly published figures, Lloyd’s notes that in …
Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales declined by 3.7 percent during the period to …
The directors of Australia’s QBE Insurance Group Limited announced that net profit after tax for the 2005 financial year increased by 27 percent to A$1.091 billion (US$806 million). Profit before tax was up 37 percent to A$1.523 billion (US$1.125 billion). …
Rescue workers are continuing their efforts to find survivors of the landslide that buried the village of Guinsaugon, in the town of St. Bernard on the Philippine Island of Leyte last Friday, Feb. 17. 10 days of torrential rains have …
Munich Re followed Swiss Re’s announcement yesterday (See IJ Web site Feb. 14) with its own upbeat report on the January reinsurance treaty renewal season. The world’s largest reinsurer said that as of Jan. 1 it had “renewed about 66 …
Hanson PLC, an international building materials company, announced that one of its U.S. subsidiaries, responsible for approximately 20 percent of the group’s present asbestos costs, has reached a settlement with its insurers. The settlement is effective from January 1, 2006 …
The World Insurance Forum, set for Feb. 21-23, is an industry hosted conference for world insurers, reinsurers, risk managers, regulators, financiers and brokers. It is a biennial event held in Bermuda and provides a platform for open and transparent discussion …
Guy Carpenter & Company Inc. reported that Dean Kidd, a managing director of the firm, was appointed to lead the company’s global Accident & Health (A&H) Specialty Practice. Kidd assumes the responsibilities previously held by Kevin Griffiths, who has been …
