Marsh announced that it has appointed international risk expert Atle Farstad as Principal in its Risk Consulting Practice in London. He will be responsible for a portfolio of key large multinational client relationships. In particular, “he will integrate Marsh’s risk …
Global reinsurer BMS announced today that it has acquired a P/C brokerage team based in Minneapolis. The nine member team is led by senior brokers Jim Brost and Mike Joyce. “The acquisition of this team boosts our rapidly growing presence …
The Board of Hardy, a major specialist Lloyd’s insurer, announced that it proposes to move the Group’s corporate domicile to Bermuda “in order to improve the Group’s strategic positioning in the global insurance and reinsurance market.” Hardy’s Directors described the …
Marsh & McLennan Companies, Inc. has named Daniel S. Glaser, an AIG executive who began his career as a Marsh broker, as chairman and chief executive officer of its insurance broker, Marsh Inc. Glaser currently serves as managing director of …
Following the departure of Daniel Glaser to Head Marsh (See related article), American International Group announced the promotion of three executives in its Foreign General insurance operations. Alexander R. Baugh will succeed Glaser as Managing Director of AIG UK Limited …
$10,000 The amount a Buna, Texas, man earned as a contractor in Iraq while at the same time collecting workers’ compensation benefits from Texas Mutual Insurance Company as a result of a job-related injury. Buna was found guilty of workers’ …
Kyle Stevens was elected president and CEO of Western Security Surplus Insurance Brokers based in Pasadena, Calif. Stevens was promoted to chief operating officer in 2005 and was charged with overseeing all offices of the company. As COO, he was …
A judge allowed victims of BP PLC’s deadly 2005 plant explosion to pursue complaints about a plea agreement resulting from a federal investigation of the accident. Attorneys for the victims have argued that a $50 million (euro33.9 million) fine brokered …
Los Angeles-based Lemac & Associates announced that Richard Wilson has joined as assistant vice president specializing in construction, wrap-ups, products liability, premises liability and excess liability. A native of London, England, Wilson began his insurance career as a broker at …
Standard & Poor’s Ratings Services has said that it considers the Saudi insurance market to possess the “inherent strengths,” which will allow it to “ride out” forthcoming regulatory changes. The report -“Strengths, Weaknesses, Opportunities, And Threats As Insurers In Saudi …
