Helped by recent acquisitions, QBE Insurance, Australia’s second largest general insurer after NRMA, posted a strong 56 percent gain in interim net profits to A$122 million (U.S.$64.4 million) for the first half of the year. QBE became one of the …
The loss estimates for Australia’s HIH continue to mount. Last May they appeared to have leveled off at around U.S.$2.1 billion, but new information released by the liquidators now show they could go as high as U.S. $2.8 billion. HIH …
Jim Hickey, the founder of the Environmental Insurance Agency in Portland, described environmental claims in general and asbestos claims in particular as “the shroud over the industry,” or harbingers of impending doom. Hickey, like everybody else, expected asbestos-related claims to …
In two moves aimed at strengthening its international presence, Atlanta-based Crawford & Co. announced that it would join the TropicalStormRisk (TM) Consortium, and has agreed to acquire Australia’s Central Victoria Loss Adjusters (CVLA) for an undisclosed price. Crawford is one …
Aquila, Inc., the Kansas City-based energy and risk management company, announced that it has entered into a partnership agreement with Australia’s Macquarie Bank to begin marketing weather derivative products there and in New Zealand. The company, a division of UtiliCorp …
Jim Hickey, the founder of the Environmental Insurance Agency in Portland, described environmental claims in general and asbestos claims in particular as “the shroud over the industry,” or harbingers of impending doom. Hickey, like everybody else, expected asbestos-related claims to …
InsuranceNoodle, a distributor of small business insurance through independent insurance agencies, has been selected by the Chubb Group of Insurance Companies to distribute Innovator from Chubb(sm), an insurance product with coverages developed specifically for emerging information technology companies. The Innovator …
ProFin(SM), the Professional & Financial Risks Practice of Royal & SunAlliance, has introduced a new Miscellaneous Errors and Omissions policy for service professionals. The E&O product, which complements ProFin’s current Management Assurance(R) program, protects against lawsuits brought by third parties …
The St. Paul Companies announced second-quarter 2001 operating earnings from continuing operations of $90.8 million, or $0.39 per diluted share, compared with $144.5 million, or $0.63 per share, in the second quarter of 2000. As previously announced, adverse prior-year development …
Liberty Mutual Group is adding to its operations in Spain by purchasing Royal & Sun Alliance’s property and casualty and life insurance operations in the country. The purchase will expand Liberty Mutual Group’s Spanish base, which began when its subsidiary …
