European Union finance ministers met on Friday in a fresh attempt to agree a common approach on taxing banks as well as to grill credit rating agencies about how they arrive at their ratings. Three years since the onset of …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited, Australia-based QBE Insurance (International) Limited and QBE Reinsurance (Europe) Limited, …
Former AIG Chief Executive Officer Martin Sullivan, who was ousted three months before the U.S. government bailed the insurer out, is joining Willis Group Holdings PLC. Sullivan will head a new unit – Willis Global Solutions– that will oversee brokerage …
It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
Lloyd’s has recreated its underwriting room in Dublin in the first event of its kind seen in Ireland. The unusual event “allowed representatives from the Irish and Lloyd’s markets to discuss their existing insurance arrangements and explore opportunities for the …
Global reinsurance companies are reconsidering their choices of corporate domicile, according to a new report from Standard & Poor’s Ratings Services, titled “Choosing A Domicile Remains A Hot Topic For Global Reinsurers.” S&P notes that the “choice of domicile–which can …
Aon Consulting has named Shelly Blackstone as vice president of business development in its Richmond, Virginia office. In her new role, Blackstone will develop new products and services clients in Central and Southern Virginia. Prior to joining Aon Consulting, she …
Pennsylvania-based Erie Indemnity Co. has appointed two executive vice presidents. John F. Kearns has been appointed to the newly created position of executive vice president of Sales & Marketing. He will oversee the company’s Sales & Agency and the Strategic …
Ireland’s financial headache worsened on Wednesday after Standard & Poor’s cut its credit rating in a move criticized by the country’s debt management agency. In a strongly worded statement, the National Treasury Management Agency said it disagreed with S&P’s view …
The world economy continued its rebound from the worst recession in decades, according to the quarterly ICC/Ifo World Economic Survey released today, but at a slower pace. The survey concluded that “some regions, notably North America and Asia, saw slowing …
