Los Angeles, 13 July 2010. Joseph Peloso, Jr. has joined GJS Re in Chicago as Assistant Vice President effective July 6, 2010. Peloso is responsible for producing and placing specialty reinsurance products as well as structuring insurance programs on behalf …
Munich Re has provided the Massachusetts Property Insurance Underwriting Association (MPIUA) with a $ 96 million catastrophe bond issuance that “transfers hurricane risk in Massachusetts to the capital markets,” said the reinsurer’s announcement. “Munich Re acted as joint lead manager …
Bermuda-bsed PartnerRe Ltd. announced that Executive Vice President and Chief Financial Officer Albert Benchimol will leave the Company, effective December 31, 2010. He has served as EVP & CFO since he joined PartnerRe in 2000. In 2007, he took on …
PartnerRe Ltd. Has announced three executive management changes. Emmanuel Clarke will become CEO, PartnerRe Global effective September 1, 2010. Bill Babcock will become Executive Vice President, CFO, PartnerRe Ltd. effective October 1, 2010. Marvin Pestcoe has been appointed CEO, PartnerRe …
Police in Colonie, N.Y. have arrested three people — including an insurer claims employee– for stealing nearly $500,000 from two insurance companies by allegedly forging and cashing claims checks in a scheme that ran nearly 10 years before it was …
Standard & Poor’s Thursday said it will add property and casualty insurer Ace Ltd to its flagship Standard & Poor’s 500 stock index after the close of trading on July 14. Ace will replace Millipore Corp, a maker of laboratory …
The Michigan Supreme Court has ruled that the Granholm Administration exceeded its authority when it banned the use of credit scoring by insurance companies in the state. The decision means insurers in Michigan can continue to use credit scoring in …
U.S. Health Secretary Kathleen Sebelius, who has bashed insurers over rate increases, is seeking their help in making medical coverage accessible for more patients in the years before major reforms take effect. Sebelius, in an interview with Reuters, said she …
Bermuda-based Ariel Reinsurance Company Ltd. announced the opening of a representative office in Rio de Janeiro, Brazil and its approval as an admitted reinsurer by the Brazilian insurance regulator, Superintendência de Seguros Privados (SUSEP). Ariel Re’ said its “initial focus …
A California-based health insurance company has agreed to pay Connecticut $250,000 for losing a disk drive containing private information of 1.5 million customers, including nearly 450,000 state residents. Attorney General Richard Blumenthal announced that along with the settlement, Health Net …
