Australia’s beleaguered AMP Ltd. announced that it could writedown as much as A$1.2 billion (U.S.$675 million) in the value of its U.K. operations, chiefly Pearl and NPI, by the end of the year. The news comes on top of last …
Insurance Journal senior writer Dave Thomas recently interviewed Michelle Duffett, president of the Professional Liability Underwriting Society (PLUS) and owner of Illinois -based Insight Insurance Services. Duffett is the first female president of PLUS. PLUS will hold its 2002 conference …
Insurance Journal senior writer Dave Thomas recently interviewed Michelle Duffett, president of the Professional Liability Underwriting Society (PLUS) and owner of Illinois-based Insight Insurance Services. Duffett is the first female president of PLUS. PLUS will hold its 2002 conference in …
Uneasy lies the head that wears a crown.” King Henry’s 15th century lament over his lack of sleep may well be shared these days by a number of 21st century CEOs, as investors call for their heads in the wake …
Willis Group Holdings Limited, the world’s third largest global insurance broker, announced third quarter operating revenues before taxes and interest of $64 million, compared to a $72 million loss in the same period last year. Net profits for the period …
Bermuda’s XL Capital Ltd. announced that it has completed the integration of the Singapore branches of its subsidiaries XL Re Ltd. and Le Mans Re into a single branch to be headed by Scott Ryrie, General Manager – Asia Pacific, …
Standard & Poor’s announced that it has affirmed its double-‘A’ long-term insurer financial strength and counterparty credit ratings on NRMA Insurance Ltd. and IAG New Zealand Ltd., with a “stable” outlook. The affirmation follows the announcement that their parent company, …
Aviva, PLC, once known as the insurance company CGNU, has agreed to sell its general insurance operations in Australia and New Zealand to the Insurance Australia Group (IAG) for A$1.86 billion (approximately U.S. $1 billion). Negotiations between the two companies …
Andrew Mohl, who took over as CEO of Australia’s AMP in September, has announced a number of changes, aimed at restoring the company’s image and profitability, following a steep fall in its share price, due mainly to troubles with its …
Local authorities in the town of Kuta on the Indonesian island of Bali have confirmed that at least 190 people died, and more than 300 were injured, when an enormous explosion completely destroyed the Sari Club, a local discotheque, and …
