Markel, Hiscox Insurer Markel acquired the rights to American Live Stock, the animal mortality business of Hiscox Insurance Co. Terms of the deal were not disclosed. The transaction includes the rights to the American Live Stock and Harding & Harding …
The U.S. Geological Survey says a minor earthquake has hit Virginia. Dale Grant, a geophysicist with the USGS, said the magnitude 3.0 earthquake happened at 4:17 p.m. Saturday. Its epicenter was about 20 miles north of Richmond. Grant said there …
A Continuing Objective “Our objective remains the same at AIG, which is to repay taxpayers and position AIG over time as a strong, independent company worthy of investor confidence.” —An anonymous source from American International Group Inc. (AIG) commenting on …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Cayman Islands-based United Insurance Company and its subsidiary, United Re (Europe) S.A., domiciled in Luxembourg. The outlook for all of ratings …
As Lloyd’s published its first half results, Luke Savage, the chief financial officer, had a busy day on Tuesday. But he spoke briefly with Insurance Journal on some of the issues the report on the first half raised. As detailed …
“Insurers and brokers must remind themselves of the value that insurance provides to clients and to society as a whole,” stated Stephen Catlin, chief executive of Catlin Group Limited*, in a speech delivered on Tuesday after his investiture as president …
Lloyd’s of London reported its interim (6 months to June 30) results today, which could best be described as mixed. Although Lloyd’s posted an overall pretax profit of £628 million [$922 million], this was less than half the amount, £1.322 …
The Lloyd’s of London insurance market revealed that record claims from disasters including the Chilean earthquake and U.S. oil spill halved its profits, and said it saw no respite from a steady decline in prices. Lloyd’s, which traces its origins …
Abacus Insurance Brokers, Inc., a Los Angeles-based program manager that distributes specialty insurance products online through www.abacus.net, has expanded its Abacus Online Builder’s Risk program. With the addition of an “A” rated, size XV–admitted carrier, the program is now available …
Californians might have more reason to retrofit their homes to better withstand a major earthquake, thanks to a recently adopted building code for retrofitting existing structures. The standard, approved in August by the state Building Standards Commission is the first …
