The Property Casualty Insurers Association of America (PCI) elected new officers to its Board of Governors during its annual meeting examining in Colorado Springs. Robert A. DiMuccio, chairman, president and chief executive officer, Amica Mutual Insurance Co., was elected as …
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, …
Two reports from Willis Re analyze the impact the insurance industry faces from the “double hurdles” of Solvency II and the new International Financial Reporting Standard (IFRS) due in 2013.” They explore the “current state of play of these major …
The Bermuda-based Arch Capital Group Ltd. reported its results for the third quarter of 2010 on Tuesday. Net income available to common shareholders for the period was $141.6 million, or $2.77 per share, compared to $274.4 million, or $4.39 per …
UK-based specialist independent insurance and reinsurance broker Miller announced further expansion of its facultative reinsurance team with the appointment of James Lyndon-Stanford. He is a specialist in the facultative reinsurance of power generation and distribution risks. He will be based …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Torus Insurance (Bermuda) Limited, Torus Insurance (UK) Limited, Torus Specialty Insurance Company and Torus National Insurance …
AIA Group Ltd is expected to post a double-digit gain in its trading debut on Friday as investors scramble for a slice of one of Asia’s most recognized life insurance brands after its record Hong Kong IPO. AIA’s wide Asian …
According to a report from Munich Re, “renewable energies are gaining in significance.” The reinsurer noted that “the share of renewable energies in power generation in Germany is expected to increase from a current 10 percent to 60 percent by …
The newly installed UK government has been announcing cutbacks in all sectors of the economy in order to bring down Britain’s budget deficit. The cuts will effect investment in flood defense spending as well. Nick Starling, the Association of British …
Insurer Nationwide is the least-complained about personal auto insurer in New York’s $10 billion auto insurance market, according to newly released ranking of 167 companies by the state’s Insurance Department. Long Island Insurance Company ranks worst among insurers writing $1 …
