American International Group, Inc. (AIG) today said that it has closed two previously announced transactions with the Federal Reserve Bank of New York (FRBNY) that have reduced the debt AIG owes the FRBNY by $25 billion in exchange for the …
Questions about securities fraud, Sarbanes-Oxley, financial executives’ compensation and football merchandise are among the high-profile cases that the Supreme Court will take up in its term that began this week: Vioxx suits: Merck & Co. shareholders sued the drugmaker for …
Zurich Financial Services Group has appointed Peter Rebrin (47, Brazilian) to the position of CEO for Zurich Latin America, effective October 1, 2009. He has been serving as interim CEO for Zurich Latin America since Jaime Paredes stepped down in …
Willis Group Holdings has completed the purchase of 100 percent of the share capital of Herzfeld Willis S.A. (Retail operation) and Willis S.A. (Reinsurance operation) in Argentina. The business will now be known as Willis Argentina S.A. Terms of the …
Louisiana-based insurance wholesaler, Specialty Risk Associates Inc., announced several changes to its management team. Thomas Garland was named chief operating officer. Garland joined Specialty Risk in 2004 as vice president of Marketing and Underwriting responsible for the coordination of marketing …
Patrick J. Burke has been appointed as a senior vice president with Stephens Insurance LLC, based in Little Rock, Ark. Burke has spent the last 30 years advising select utilities and utilities mutual insurance companies. He has designed risk coverage …
Upward pressure on property/catastrophe reinsurance rates in the U.S. eased at the July 1, 2009 renewal, as capacity in the market remained sufficient without being abundant, according to a briefing published today by Guy Carpenter & Co., LLC. Consistent with …
The World Health Organization was poised on Thursday to declare that the new H1N1 virus has caused the first influenza pandemic in more than 40 years, health sources said on Thursday. The move will trigger heightened health measures in the …
The spread of H1N1 flu in Australia, Britain, Chile, Japan and Spain has nudged the world closer to a pandemic, the World Health Organization said on Tuesday. The newly-discovered strain had caused more infections than seasonal influenza at the start …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Navigators Insurance Group, which is comprised of Navigators Insurance Company and its wholly owned and 100 percent reinsured subsidiary, Navigators …
