USI Holdings USI Holdings Corp. received an inquiry from a private equity firm interested in acquiring all of the outstanding common stock of the company. In response, the company’s board of directors formed a special committee consisting of outside directors …
Aon, Old Republic Insurance Co. Chicago-based Aon has taken steps to exit the property and casualty underwriting business by moving to sell its Construction Program Group (CPG). Aon also announced that it would strengthen reserves for its remaining specialty property …
AXA has reached an agreement with Alpha Bank to acquire its insurance subsidiary Alpha Insurance for Euro 255 million. AXA and Alpha Bank, Greece’s second largest bank, have also signed a long-term exclusive agreement to pursue and strengthen the existing …
A.M. Best Co. announced that it has downgraded the financial strength rating of Luxembourg-based West of England Ship Owners Mutual Insurance Association (WOE or the Club) to “A-” (Excellent) from “A” (Excellent) and assigned an issuer credit rating of “a-“. …
Aon Corp. reported on Friday that the four airline crashes that have hit Canada, Italy, Venezuela and Greece this month, have resulted in August being the worst month for airline losses in more than three years. According to Aon, the …
At least one child on the doomed Cypriot Airline that crashed last Sunday in the mountains north of Athens, Greece survived the initial impact, but died shortly after from smoke inhalation. In all, 121 people died when the plane went …
It appears all 121 people on board a Cypriot airliner died Sunday when the plane rammed into a hill north of Athens, Greece. Early reports say one or both of the pilots may have been unconscious prior to the crash, …
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 …
AIR Worldwide Corp. (AIR) announced its Mediterranean Region Earthquake Model is now available in its detailed risk modeling software system, CLASIC/2. The update enables European primary insurers, brokers, and reinsurers to more accurately estimate earthquake losses by incorporating risk specific …
Certain events mark each generation, but as the scope of the disaster that struck 12 countries around the Indian Ocean on Dec. 26 emerges, it has become evident that it will haunt not just the present generation, but many future …
