A bid for Lloyd’s of London insurer Brit is unlikely to trigger acquisitions in the battered sector because targets feel they can hold out against lowball private equity bids and trade buyers remain strapped for cash. Shares across the Lloyd’s …
The Orange Empire Chapter of the Chartered Property Casualty Underwriters (CPCU) Society recently elected its 2010-2011 officers. The chapter serves about 300 members who live and/or work in the Orange, Riverside and San Bernardino counties of California. The incoming new …
Bermuda-based Allied World Assurance Company Holdings announced that it has received approval from Lloyd’s of London to establish a new syndicate. Designated Syndicate 2232, with the pseudonym AWH, Allied World said it would be “fully operational and writing business effective …
The Bermuda-based Catlin Group Limited has announced the appointment of Andreas Weber as Group Treasurer. He is based in Zurich, Switzerland, and will join Catlin in July. Weber will report to Benjamin Meuli, Catlin’s Chief Financial Officer. “As Group Treasurer, …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Barbados-based Wentworth Insurance Company Limited, an indirect, wholly owned subsidiary of Fairfax Financial Holdings Limited, and has assigned a stable …
Aliso Viejo, Calif.-based LaBarre/Oksnee insurance brokers promoted Jeff Leane to the newly created vice president of sales position. He is charged with leading the development and implementation of sales strategy and growing the company’s sales organization. He has more than …
The Group of North American Insurance Enterprises (GNAIE), an association representing the Chief Financial Officers of major life insurance companies in Bermuda, Canada, and the United States, has joined with four other insurance industry trade associations based in North and …
Reinsurers have bumped up prices for offshore energy-related insurance premiums by 50 percent following insurance industry losses of up to $3.5 billion from the BP plc oil spill in the Gulf of Mexico, Moody’s Investor Service said in a report …
The Bermuda Monetary Authority has begun conducting a pilot of its internal capital model (ICM) review process with selected Class 4 companies, the largest commercial (re)insurers in the Bermuda market. “The ICM framework will allow (re)insurers to use their own …
Ironshore Canada has entered into the financial and professional lines market, naming Dane Hambrook, vice president, to head the division. Ironshore Canada’s Financial and Professional Lines division will provide liability coverages for directors & officers, errors & omissions, employment practices, …
