Markel Corp. announced that Gerry Albanese, president and chief operating officer of Markel International since 2003, will return to the United States to assume a senior executive position with Markel Corp. William Stovin will replace Albanese as president and chief …
Tropical Storm Gustav shifted course slightly on Thursday morning and moved toward the Jamaica, and forecasters predicted it would be a powerful hurricane by the time it reaches the Gulf of Mexico. “The re-formation of the center has caused a …
Willis Group Holdings has launched a new Mergers & Acquisitions (M&A) Practice in South Africa “to serve the insurance brokerage and risk management needs of the burgeoning private equity sector and local corporate clients,” the company announced. Willis explained: “South …
Marsh is warning jewellery collectors of the risk of underinsurance in the wake of spiralling diamond and precious metal prices. The broker issued a bulletin from its London office, which notes that “over the past 12 months, the price of …
Chicago-based Aon Corporation and UK-based broker Benfield Group Limited announced that their respective boards of directors have reached agreement for Aon to acquire Benfield for £3.50 ($6.55) per share in cash and assume £91 million ($170 million) of Benfield net …
From Novelty to Necessity: Bermuda’s Insurance Market 2008 Bermuda’s insurance industry has grown steadily since it began 50 years ago. It is now a mature market, and, in certain sectors – natural catastrophes, crop insurance and medical malpractice – it …
New Markets The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Builders Risk and Affiliated Exposures Market Detail: Atlantic Risk Specialists (www.arspecialists.com) brings builders …
The Burma Campaign UK, a human rights group, has issued a bulletin stating that XL and Chubb have separately announced their withdrawals from the Burmese market. The Campaign said the move was prompted by a bulletin it had released on …
The exchange would allow underwriters to form syndicates to reinsure and insure unusual or very large exposures. N.Y.’s Dinallo Sees Insurance Exchange Open by 2009 New York Insurance Superintendent Eric Dinallo said a revival of the defunct New York Insurance …
Indiana Insurance, a Liberty Mutual Agency Markets regional company, appointed Jessica M. Frankovich as Inland Marine underwriting manager. Frankovich will be based in Indiana Insurance’s Illinois regional office and will manage and grow the company’s Inland Marine book of business. …
