The U.S. Treasury Department plans to sell a large piece of its stake in American International Group in two stock offerings next year, officials briefed on the situation told Reuters. It would sell any remaining stock in AIG in 2012, …
Ullico Casualty Group Inc., a wholly-owned subsidiary of Ullico Inc., has increased its fiduciary liability insurance limits from $15 million to $25 million, effective immediately. Limits are available on a primary or excess basis. “Offering a $25 million limit of …
PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, announced that total placements of insurance risk transactions based on the PERILS industry loss index to date in 2010 have exceeded $1 billion. PERILS said that from January …
You can lie to taxpayers or you can lie to creditors, European authorities are learning, but doing both at the same time is very hard. The proposed policy that current senior creditors to troubled states will not face losses on …
Droughts and deluges in Australia, snow in Europe and cold snaps in the United States are pushing up prices of a range of commodities from sugar to heating oil and soybeans. Australia typically ranks as second in the league of …
In a brief announcement Lloyd’s insurers Beazley plc and Hardy Underwriting Bermuda Limited noted that Beazley has withdrawn its offer to acquire Hardy. The decision to withdraw the offer follows Hardy’s rejection of Beazley’s “final proposal,” submitted to Hardy’s Board …
Chartis has expanded its Private Client Group University (“PCG-U”), a continuing education and training program designed for insurance and other financial services professionals who advise high net worth individuals and families. The Private Client Group division of Chartis created PCG-U …
Everest Specialty Underwriters, LLC (ESU) has introduced a new primary investment management policy. This product addresses the professional liability exposure and the directors and officers (D&O) liability exposure facing asset management firms, including investment advisors, wealth management firms, mutual funds, …
Bermuda-based PartnerRe Ltd. announced the repurchase of 1,283,336 common shares in a privately negotiated transaction with an institutional shareholder. The shares, totaling approximately 1.7 percent of total common shares outstanding as of September 30, 2010 were purchased at a price …
The U.S. Treasury plans to sell about one-fifth of insurer AIG through a stock offering in the first half of 2011, an important test of the government’s ability to profitably exit one of its most controversial bailouts. American International Group …
