Allmerica Exits Life Sales Allmerica Financial Corp. is getting out of the variable annuity and variable life insurance business, selling those operations to The Goldman Sachs Group Inc. as part of a $385 million deal. Allmerica officials said the life …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B+” (Very Good) of Hong Kong-based Tugu Insurance Company Limited (Tugu) with a stable outlook. “The rating reflects Tugu’s improving operating performance, strong capitalization and financial flexibility …
France’s SCOR Group announced that it has obtained permission from the Indian regulatory authority (IRDA) to open a representative office in India, “with a view to strengthening and developing its activities in the Non-Life reinsurance field.” SCOR believes there is …
Kanbay International, Inc., a global IT services firm focused on providing solutions to the financial services industry, announced that the company has been named a winner of the LOMA “Excellence in Education” Award. LOMA is an international association through which …
The Hong Kong-based insurance unit of China’s Bank of Communications Co. has filed a formal application with the China Insurance Regulatory Commission (CIRC) to establish a Shanghai-based P/C insurance subsidiary. China Communications Insurance will operate with mainland partners. It would …
Reports from a number of sources (Bloomberg, Asia Pulse) indicate that China’s Bank of Communications Ltd. (BC) is planning to form a partnership to enter the P/C business on the mainland. BC, China’s fifth largest commercial bank, formed a wholly-owned …
The National Association of Government Labor Officials (NAGLO) during its 2005 summer conference elected Minnesota Department of Labor and Industry Commissioner Scott Brener president. With members from more than 30 U.S. states, NAGLO focuses on sharing information and developing policy …
Scott Brener The National Association of Government Labor Officials (NAGLO) during its 2005 summer conference elected Minnesota Department of Labor and Industry Commissioner Scott Brener president. John Robinson With members from more than 30 U.S. states, NAGLO focuses on sharing …
Phoenix, Ariz.-based MiniCo Inc. has announced an executive reorganization effective Aug. 1, 2005. Three new presidents will lead MiniCo’s core divisions: Mike Schofield, Insurance; Denise Nunez, Publishing; and Marilyn Leslie, Asian Operations. The three newly named presidents are longstanding MiniCo …
Zurich Global Energy announced the appointment of Chris Barber as Global Energy onshore property manager for Asia. The appointment follows the creation of the Greater China unit under CEO Johnny Chen at the start of 2005 and is in line …
