Willis Group Holdings has announced three senior appointments at Willis Re, the company’s reinsurance arm. The bulletin said the “appointments are designed to accelerate the unit’s global progress against Willis’ Shaping our Future strategy, a series of initiatives designed to …
Aon has issued a bulletin urging European Union insurers to “learn from the work undertaken by their banking colleagues in implementing the Basel II accord and start preparing for Solvency II now.” The statement follows a roundtable discussion, hosted by …
Unum Group, headquartered in Chattanooga, Tennessee, entered into an accelerated repurchase agreement with Deutsche Bank, AG London Branch to repurchase approximately $350 million of its outstanding common stock. The Aug. 1 announcement follows the accelerated repurchase of $350 million of …
Narragansett Bay Insurance Co. of Pawtucket, Rhode Island has named Mark Talerico chief risk officer. Talerico will oversee Narragansett’s distribution of risk in homeowners insurance, and guide the insurers exposure management. Prior to joining Narragansett Bay, Talerico worked as senior …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
Reasonable Care “In short, there is no allegation that any Delta employee failed to exercise reasonable care in the performance of his/her duty in any manner in respect to Flight No. 5191.” —U.S. District Judge Karl Forester in dismissing Delta …
Jacksonville, Florida-based insurer The Main Street America Group named Joe Meholic president of its Richmond, Virginia region. In his new role as regional president, Meholic will be accountable for the direction, management and performance of the Richmond region, which encompasses …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
The Delaware Superior Court has ruled that a directors and officers insurance company must pay defense costs on behalf of its policyholder to the full policy limits against a criminal indictment alleging many wrongful acts over an extended period involving …
Richmond, Virginia-based insurance broker Hilb Rogal & Hobbs, which is in the process of being acquired by bigger insurance broker Willis, reported revenues were up 5.3 percent while net income plummeted for the second quarter. Net income for the second …
