In the opinion of one major industry player, the Sarbanes-Oxley Act of 2002 set in place “a mad rush to save the world from bad management,” a misguided and costly strategy that will fall victim to its unintended consequences, which …
Bermuda-based Alea Group Holdings, a global reinsurance and specialty insurance company, announced the promotion of Mark L. Ricciardelli from Group President and COO to Group President and CEO with immediate effect. He has also been appointed an Executive Director. The …
Applied Underwriters, based in San Francisco, Calif., has announced the appointment of Sidney R. Ferenc as chairman of the board, and Steven M. Menzies as president. Ferenc assumes the position of chairman, while continuing in his capacity of chief executive …
David L. Schaefer, principal and vice president of Virginia-based Armfield, Harrison & Thomas (AH&T) was recently elected as chairman of TechAssure Association Inc. In his role as chairman, Schaefer will work directly with all TechAssure committee chairs and strategic alliances …
David F. D’Alessandro will retire as president and chief executive of John Hancock Financial Services in Boston late this year but continue serving on the board of Canada’s Manulife Financial Corp., which recently acquired John Hancock, the insurer said. On …
New York-based Riskclick, a leader in Web-based front office software solutions for the commercial risk management, insurance and reinsurance industry, announced that James DeSocio has been appointed as its new CEO. “DeSocio brings 22 years of executive level experience to …
The Swiss-based Zurich Financial Services Group announced the appointment of Axel P. Lehmann, 45, as CEO of Zurich North America Commercial (ZNA), effective September 2004. He succeeds John Amore who, as announced on April 2, is assuming his global leadership …
Alabama-based Vesta Insurance Group Inc. announced that Tambra L.G. Bailie has been elected the non-executive chairman of its Board of Directors. In addition, Vesta announced that Kevin Tierney has been elected to the Board of Directors at today’s annual meeting …
Standard & Poor’s Ratings Services announced that it has affirmed its “A-” long-term counterparty credit and insurer financial strength ratings on Alea London Ltd., Alea (Bermuda) Ltd., Alea Europe Ltd., Alea North America Insurance Co., Alea North America Specialty Insurance …
The role of reinsurance brokers has evolved well beyond the basic placement and relationship responsibilities of 25 years ago and will continue to evolve into new areas, according to the chief executive officer of Guy Carpenter. In the 1980s, reinsurance …
