Bermuda-based PartnerRe Ltd. announced that its shareholders, at a Special General Meeting, have approved all of the proposals unanimously recommended by the Company’s Board of Directors to effect the Company’s proposed acquisition of PARIS RE, a French-listed, Swiss-based diversified reinsurer …
The Bermuda Monetary Authority (BMA) has signed a Memorandum of Understanding (MOU) with the Florida Office of Insurance Regulation (FLOIR). The bulletin noted that it “is the latest in a number of such agreements that the Authority has signed to …
Insurance may emerge as the next big growth area in Canadian banking, even though regulations prohibit lenders from selling via their branches and insurance brokers vehemently oppose the move. When Canada’s biggest bankers convened last week to talk about growth …
Documents show a state-chartered workers compensation insurer in Colorado once planned to seek permission to buy other insurance companies but later backed off. The Denver Post reported Wednesday that Pinnacol Assurance dropped the plan after business groups recommended no changes …
The federal government is overpaying private insurance companies that manage flood insurance policies by as much as 16.5 percent. To just six of the 87 participating carriers, the Federal Emergency Management Agency (FEMA) paid $327.1 million more than their actual …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that a team lead by Nick Jones has joined its Lloyd’s underwriting operation, Marlborough Underwriting Agency Ltd., to create a worldwide property division. Flagstone said that initially the team will be writing on behalf …
Lloyd’s conservative management, combined with a notable lack of major natural catastrophes, has resulted in a £1.32 billion ($2.18 billion) pretax profit for the first half of 2009, compared to £949 million ($1.54 billion) in the same period for 2008. …
The National Association of Mutual Insurance Companies has welcomed 10 new members into its Century Club, recognizing them for serving policyholders for 100 years. NAMIC also recognized Bucks County Contributionship Mutual Insurance Co. on its 200th anniversary. “These companies have …
Two North Carolina state legislators have been named “State Legislators of the Year” by the National Association of Mutual Insurance Companies (NAMIC) for their efforts to pass legislation reforming the state’s coastal property insurance fund known as the Beach Plan. …
Home, auto and business insurers did not cause the current financial crisis, do not present systemic risk, and are already regulated effectively, a group of them is telling federal lawmakers looking at expanding financial services regulation. J. Douglas Robinson, chairman …
