The Canada Revenue Authority (CRA) confirmed that Barbados insurance companies including Exempt Insurance Companies (EIC) and Qualifying Insurance Companies (QIC) are “liable to tax” under paragraph IV (1) of the 1980 Barbados-Canada Double Taxation Agreement and can generate exempt earnings …
Cooper Gay, the UK-based independent global wholesale broker, which combined with Swett & Crawford in July, has restructured its London based marine and energy reinsurance team to target continuing growth in market share. Steven Herbert has been made Head of …
The Texas Department of Insurance issued a bulletin reminding insurance companies and agents that misrepresentation of insurance policies by failing to state a necessary material fact, or by making a statement in a manner that would mislead a reasonably prudent …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Bermuda-based Oil Casualty Insurance, Ltd (OCIL), both with stable outlooks. OCIL’s ratings “reflect its superior capitalization, balance sheet strength, generally profitable …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of National Guaranty Insurance Company of Vermont (NGIC), both with stable outlooks. The ratings reflect NGIC’s “excellent capital position, consistently profitable operating …
Barbados-based Aliseo Reinsurance SCC announced its entry into the global retrocession market with an initial capitalization of $300 million. Aliseo Re said it would “operate as a monoline retrocessionaire focusing on providing property catastrophe protection, targeting the reinsurance market worldwide. …
Swiss Re’s latest sigma study, #5/2010, – “Insurance investment in a challenging global environment” – warns that a “low yield environment coupled with tighter regulatory standards could hamper insurers’ investment returns, leading to lower profits for the industry and higher …
AIA Group Ltd, the recently spun off Asia life insurance arm of American International Group <AIG.N>, has lost another key executive with the resignation of its human resources head Margret Chiu, a spokeswoman told Reuters on Tuesday. Chiu, an executive …
Most insurers are letting consumer technology like smartphones and social media networks get ahead of them, creating a challenge to attract a new generation of customers who are not interested in doing business with agents the way their parents did. …
One year ago a series of devastating floods hit Cumbria, the county on the west coast of England just below the Scottish border. Heavy rain caused extensive flooding in a number of towns A year later the area is beginning …
