Four former executives of American International Group Inc., including ex-CEO Maurice “Hank” Greenberg, agreed on Thursday to settle a long-standing shareholder lawsuit for $115 million. The insurer will receive proceeds from the settlement, less fees. The settlement will save the …
Manhasset, New York-based NIF Property Solutions, a division of NIF Group, Inc., said it will act as the exclusive underwriter of a new product for property risks in 14 East and Gulf Coast states. The product is being offered in …
A.M. Best Co. has placed the financial strength rating (FSR) of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb” of Response Insurance Group and its following members under review with positive implications: Response Insurance Company, Connecticut Life & Casualty …
Taking aim at a longstanding rite of passage for 16-year-olds, an influential auto safety group is calling on states to raise the age for getting a driver’s license to 17 or even 18. Adrian Lund, president of the Insurance Institute …
Karen Weldin Stewart surprised many political observers by winning the Democratic primary for the post of Delaware insurance commissioner. The former state insurance department deputy receiver beat Gene Reed Jr., the candidate backed by the Democratic Party establishment. She received …
Planned renovations to the Rehoboth Beach, Delaware boardwalk will make it possible for fire trucks to drive on it. Boardwalk Committee Chairman Stan Mills says reinforcements to the center section will allow it support 20 tons, enough for a small …
One of the three Democrats vying for the party’s nomination for the Delaware insurance commissioner post formally launched her campaign with just three weeks before the Sept. 9 primary. Karen Weldin Stewart promised to push for legislation that would prohibit …
Aon, Benfield Chicago-based Aon Corp. is acquiring UK-based broker Benfield Group Limited for about $1.75 billion. The price includes $6.55 (£3.50) per share in cash and assumption of $170 million (£91 million) of Benfield net debt. The consideration represents a …
Swiss Re appointed Walter A. Bell chairman of Swiss Re America Holding Corp. Bell, whose appointment with Swiss Re is effective Sept. 2, is currently insurance commissioner of the Alabama Department of Insurance, a position he has held since 2003. …
Aon, Benfield Chicago-based Aon Corp. is acquiring UK-based broker Benfield Group Limited for about $1.75 billion. The price includes $6.55 (£3.50) per share in cash and the assumption of $170 million (£91 million of Benfield net debt). The consideration represents …
