A bailout of troubled CL Financial Ltd. by Trinidad and Tobago’s central bank has been having ripple effects across the Caribbean, where regulators are liquidating the sprawling firm’s insurance subsidiaries to protect depositors. The Trinidad-based conglomerate, weakened by bad real …
Standard & Poor’s Ratings Services has placed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. on CreditWatch with positive implications following the company’s announcement that it will merge with IPC Holdings Ltd., a leading provider of property catastrophe …
ACE announced that it is extending its Environmental Risk capabilities by writing the company’s portfolio of Environmental Liability products at Lloyd’s. “ACE’s suite of environmental products is now available through ACE Global Markets Syndicate 2488, with appetite across all industry …
The maker of a vintage seaplane that crashed off Miami Beach in 2005, killing 20 people, is being sued in federal court. Federal investigators blamed faulty repair and inadequate government regulation for the crash of the 58-year-old Chalk’s Ocean Airways …
Standard & Poor’s Ratings Services has revised its outlook on the Lloyd’s Syndicate Assessment (LSA) on Advent Underwriting – Syndicate 0780 to stable from positive. S&P also affirmed the assessment of ‘2’ (high dependency). “The outlook revision reflects the recent …
The maker of a vintage seaplane that crashed off Miami Beach in 2005, killing 20 people, is being sued in federal court. Federal investigators blamed faulty repair and inadequate government regulation for the crash of the 58-year-old Chalk’s Ocean Airways …
ACE Europe announced that it has extended broker access to its market-leading Directors & Officers (D&O) portfolio by writing commercial D&O risks at Lloyd’s. Commercial D&O is now available through the ACE Global Markets Syndicate 2488 at Lloyd’s for primary …
Risk Management Solutions estimates that the damage wreaked by Hurricane Ike in the popular Turks & Caicos Islands and Bahamas at between $50 million and $200 million. RMS said the majority of the losses were due to “wind and storm …
Hurricane Ike gathered strength as it churned through the Gulf of Mexico’s warm waters Thursday on a track that would skirt the heart of the U.S. offshore oil patch before slamming into the Texas coast late Friday or early Saturday. …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been honored as the “Re/Insurance Initiative of the Year” at the 2008 Review Worldwide Reinsurance Awards. It’s the first such recognition for the 16-month old facility. A CCRIF bulletin described the ward …
