Canadian insurer Sun Life Financial Inc. said Wednesday it would sell its reinsurance business to Warren Buffett’s Berkshire Hathaway after months of looking for a buyer for the profitable unit. Sun Life did not disclose sale terms for the business, …
Climate change is set to drive the spread of invasive plant and animal species, threatening forests, fisheries and crops, in a double blow to nature and livelihoods, a World Bank-funded report said on Friday. The study by Nairobi-based Global Invasive …
Cash rich Australian companies are being forced to search offshore for takeover targets as the small local market has become too consolidated to get deals past the competition watchdog. With the Aussie dollar at a 28-year high, now would be …
The United Nations should impose a moratorium on “geo-engineering” projects such as artificial volcanoes and vast cloud-seeding schemes to fight climate change, green groups say, fearing they could harm nature and mankind. The risks were too great because the impacts …
Catlin Canada, the Canadian-based operations of Catlin Group Limited, announced further expansion in the country with the opening of offices in Vancouver and Montreal. Both facilities will begin operations in early November. “The Montreal and Vancouver offices will target business …
Sean McGovern now heads Lloyd’s operations in the U.S. and Canada – the first and third largest sources of business for its underwriters. Lloyd’s not only wants to hold on to that business, but also to increase it. “We’re in …
IMS, London American Risk Specialists IMS Insurance Market Solutions acquired Houston-based London American Risk Specialists Inc. effective Sept. 1, 2010. The combined entity will become IMS/London American and will be one of the largest independent multi-line managing general agencies in …
A recent article in Lloyd’s “Market” magazine noted that Sean McGovern, General Counsel and, since February 2010, the Director of Lloyd’s North America, “loves to mess about in boats in his spare time.” As he’s now responsible for two posts, …
Soft commercial insurance market conditions persisted through the third quarter of 2010, with lower rates on average across major coverage lines, according to a new report from broker Marsh. Intense competition and overabundance of capacity continue to define the commercial …
A.M. Best Europe – Ratings Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Bermuda-based Aspen Insurance Limited (AIL). Best also affirmed the …
