QBE the Americas announced that its parent, Australia’s QBE Insurance Group Limited, will contribute an additional $50 million of capital to its subsidiaries in the U.S. to support premium growth. This contribution increases the policyholders’ surplus of QBE the Americas …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Excellent) of U.K. based HSB Engineering Insurance Limited (HSBEIL) with a stable outlook. Best said it “regards HSBEIL as a core operating subsidiary of its parent, …
Although asbestos was used in such disparate products as building insulation and brake linings, in its raw form it came out the ground, and nobody in Australia mined and processed more of it than the James Hardie group. Therefore it …
Standard & Poor’s Ratings Services announced that on Jan. 1, 2005, it will withdraw its “A”‘ insurer financial strength and counterparty credit ratings on Swiss Re Australia Ltd., a subsidiary of Swiss Re. S&P explained that the withdrawal “follows Swiss …
The credit outlook on Australia’s nonlife insurance industry will remain stable in 2005, despite moderation in earnings, according to Standard & Poor’s Ratings Services latest industry report card on Australia’s P/C insurance sector. “Advances in underwriting quality, operational efficiencies, and …
The actuarial profession in several countries is developing new rules and standards to affirm its integrity and competence to the public, said international representatives at the Casualty Actuarial Society (CAS) annual meeting in Montreal. Speaking at the annual meeting of …
Arthur J. Gallagher & Co. announced the acquisition of FPE Insurance Brokers Pty Ltd. of Sydney, Australia. The terms of the transaction were not disclosed. “First organized in 1993, FPE Insurance Brokers Pty Ltd. (FPE) is a full- service retail …
Dublin-based FINEOS Corporation, a leading provider of banking and insurance software, announced that CommInsure, the insurance arm of the Commonwealth Bank of Australia Ltd., is to deploy FINEOS Front Office to support its sales and servicing operation, including new business …
FINEOS Corporation, a leading innovator of banking and insurance software, has been named by The Irish Exporters Association as ‘Exporter of the Year’ for 2004. The Irish Prime Minister, Mr. Bertie Ahern, presented the award at the Exports Awards ceremony …
Standard & Poor’s Ratings Services announced that it has assigned its “A-” issue rating to the A$500 million (U.S. $392 million) issue of Reset Exchangeable Securities (RES) by the New Zealand branch of IAG Finance (New Zealand) Ltd., a wholly …
