Munich Re has launched coverage in the United States for the photovoltaic-producing segment of the solar module industry and first ever of its kind in the world for CPV systems. CPV (concentrator photovoltaic) technology uses innovative optics to concentrate sunlight …
Swiss Re’s Capital Markets unit announced that it has ‘successfully structured and placed €100 million [$138.6 million] of securities issued by Green Valley Ltd.,” covering windstorm events in France. Green Valley is a special-purpose company incorporated under the laws of …
Insurers have new incentives to go green, thanks to a new law signed by California Gov. Arnold Schwarzenegger. AB 1011, authored by Assembly Dave Jones, who is running for Insurance Commissioner, requires the state Department of Insurance to collect data …
American International Group Inc (AIG) plans to raise up to $14.9 billion through an IPO of its Asian life insurance unit AIA Group Ltd, according to a document obtained by Reuters on Monday. The Hong Kong-based company plans to raise …
AIA Group Ltd, which aims to raise about $15 billion through a Hong Kong listing, flagged a series of business risks including the collapsed bid from Prudential Plc as it launched the share offering on Tuesday. AIA, the Asian life …
A.M. Best Co. has affirmed the financial strength ratings of ‘A+’ (Superior) and issuer credit ratings of “aa” of FM Global Group and its lead company, Factory Mutual Insurance Company, and its other members, which include FM Insurance Company Limited …
Consumers have been highly satisfied with their auto insurance companies over the past year, and they view Allstate, State Farm and Geico as the most reputable auto insurance providers, according to a new survey. The survey conducted in August by …
3.1% The Property Casualty Insurers Association of America’s (PCI) annual Insurance Compensation Survey shows that property/casualty insurance companies are projecting average salary budget increases of 3.1 percent in 2011, which is slightly higher than the 2.8 percent increase reported in …
Insurers in California will now be required to disclose cancellation penalties —prior to or concurrent with an application for insurance — thanks to legislation recently signed by Gov. Arnold Schwarzenegger. Previously, the law stated that an insured was entitled to …
Surplus line insurers should not be subject to California Constitution Section 28 taxes to the state, according to a California Court of Appeal decision that notes that these nonadmitted insurers already pay surplus line premium taxes. The conflict arose when …
