New York’s top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a “rogue institution” that hid $250 billion in transactions tied to Iran, in violation of U.S. law. The New …
Catastrophe risk modeling firm AIR Worldwide announced that China Property & Casualty Reinsurance Company Ltd. (CPCR) has licensed its typhoon, earthquake, and multiple-peril crop insurance models for China to better manage its catastrophe risk. “Because of the rapid urbanization in …
Willis Group Holdings announced that it has been issued a full commercial lines license to conduct insurance intermediary services in Guernsey under the Insurance Managers and Insurance Intermediaries Bailiwick of Guernsey Law, 2002. Willis noted that it is the “only …
Liberty Mutual Insurance Group announced that Liberty Videocon General Insurance Company Ltd, a joint venture between Liberty Mutual Insurance Group and Videocon Industries Ltd., has received the necessary license from India’s insurance regulatory authority to commence its operations. The operation …
Starr Indemnity & Liability Company announced that the Japanese Financial Services Agency (FSA) has granted it a foreign, non-life insurance business license in Japan. The license allows Starr to offer approved accident and health insurance and casualty solutions in the …
Starr Companies announced that it has received a direct general license from the Monetary Association of Singapore (MAS) to operate as a direct insurer in the Republic. The insurance license was specifically granted to Starr International Insurance (Singapore) Pte. Ltd., …
France’s Gras Savoye, which is closely associated with Willis, announced that it has received a license to commence brokerage operations in Georgia (the country – not the state), as part of its initiative to expand its business from Turkey into …
Swiss Re announced that it has submitted an application to Brazil’s Superintendence of Private Insurance (SUSEP) for a local reinsurance registration. Swiss Re said it “views a Brazilian reinsurance registration as a local reinsurer as the next step in its …
A three-judge Commonwealth Court panel Tuesday upheld the suspension of a Philadelphia woman’s car registration for allowing her insurance to lapse, although one judge scolded the Pennsylvania Department of Transportation for filing an appeal when evidence showed the woman had …
The Minnesota Department of Insurance said the shutdown of the state’s government, which became effective July 1, will cause disruption to the regulatory agency’s licensing activities. The shutdown that began on July 1 — Minnesota’s second in six years — …
