XL Hit with $183M Reserve Increase: Bermuda’s XL Capital Ltd. announced that its second quarter results will be adversely impacted by an increase in net reserves in its North American reinsurance operations of $191 million pre-tax–$183 million after tax, or …
XL Hit with $183M Reserve Increase: Bermuda’s XL Capital Ltd. announced that its second quarter results will be adversely impacted by an increase in net reserves in its North American reinsurance operations of $191 million pre-tax-$183 million after tax, or …
A.M. Best Co. announced that it has upgraded the financial strength rating to “A” (Excellent) from “A-” (Excellent) and the issuer credit rating to “a” from “a-” of AXA Re (France), AXA Re Asia Pacific Pte. Ltd. (Singapore) and CGRM …
While most of Scotland braces for the upcoming G8 summit in Edinburgh, some 100 or so triathletes have a different concern. They’re scheduled to compete in a triathlon around and in Scotland’s legendary Loch Ness on July 23, and they’re …
Days after the U.S. Treasury issued its report downplaying the need for renewal of a federal terrorism risk reinsurance program, an organization of 30 democratic countries including the U.S. has warned of shortfalls in terrorism coverage around the world. Nearly …
California Insurance Commissioner John Garamendi recently took time out from his schedule to chat with Insurance Journal Online Editor Dave Thomas regarding SB 938, “use it and lose it” practices against homeowners, workers’ comp reform, the fire season, and his …
EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of soul-searching and reassessment, they’ve chosen to …
California Insurance Commissioner John Garamendi recently took time out from his schedule to chat with Insurance Journal Online Editor Dave Thomas regarding SB 938, “use it and lose it” practices against homeowners, workers’ comp reform, the fire season, and his …
Commerce Insurance Services, a wholly-owned subsidiary of Commerce Bancorp, Inc., has entered into an agreement to acquire BK International Insurance Brokers, Ltd., headquartered in Greenwich, Connecticut. The acquisition will complement Commerce Bank’s expansion into Connecticut, where it will open its …
France’s SCOR Group plans to issue 130 million new shares, raising around 201.5 million euros ($243.6 million) in new capital, primarily to fund the purchase of the outstanding shares of Irish Reinsurance Partners (IRP) that it does not already own. …
