The proposed $35.5 billion takeover of AIA by Prudential Plc will offer opportunities for rival insurers to increase their market share in Asia, a top official at British insurer Aviva Plc said. “For competitors it does give some opportunities,” Simon …
Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., will testify Wednesday over a sham transaction involving the insurer and a unit of Warren Buffett’s Berkshire Hathaway Inc, a judge ruled. New York State Supreme Court Justice …
The consulting and actuarial firm, Milliman, reports that the Illinois Supreme Court’s overturn of caps on non-economic damages in medical liability cases will increase claim costs in that state. It’s thought that higher insurance premiums may result as well. State …
The company that insured a historic inn in western North Carolina is refusing to pay for damages from a fire, saying someone associated with the owners is responsible for the blaze. The owner has accused former employees of the Richmond …
CRM Holdings Ltd., a specialty provider of workers’ compensation insurance products, announced it had a net loss of $19 million in the fourth quarter of 2009. In the same period in 2008, the compnay had a net loss of $6.2 …
The chief executives of Britain’s Prudential Plc and American International Group met employees of the two firms in Southeast Asia on Thursday, in a bid to address concerns about the insurance industry’s record M&A deal unveiled earlier this week. Prudential …
A.M. Best Co. has commented that the ratings of American International Group, Inc. and its subsidiaries are “unchanged following the announcement that AIG will sell the AIA Group, Limited to Prudential plc in a deal valued at approximately $35.5 billion. …
Standard & Poor’s Ratings Services has affirmed its ‘BBB’ counterparty credit ratings on Bermuda-based insurance and reinsurance holding company Max Capital Group Ltd. and its intermediary holding-company subsidiaries: Max USA Holdings Ltd., Max Europe Holdings Ltd., and Max UK Holdings …
Federal legislation designed to streamline non-resident insurance agent and broker licensing passed the U.S. House of Representatives. H.R. 2554, the National Association of Registered Agents and Brokers Reform Act of 2009, or more commonly referred to as NARAB II, passed …
DeRidder, La.-based workers’ compensation insurer Amerisafe Inc. reported net income of $6.6 million in the fourth quarter of 2009, an increase of 15 percent over the $5.7 million recorded in the fourth quarter of 2008. Gross premiums written in the …
