Swiss Re announced that it has successfully placed its inaugural Sterling benchmark hybrid capital transaction of £500 million ($982 million). “This transaction represents financing for general corporate purposes,” said the bulletin. “The Sterling market was chosen as it provided additional …
Equitas, the run-off vehicle established by Lloyd’s in 1996 to handle 1992 and prior years’ non-life liabilities, has completed its reinsurance transaction with National Indemnity Company, a member of the Berkshire Hathaway group of insurance companies. The transaction was first …
Lancashire Holdings Limited, which writes a diversified mix of specialty insurance lines both catastrophe and non-catastrophe from twin platforms in Bermuda and London, announced three senior management promotions, as follows: — Simon Burton is appointed as Deputy Chief Executive Officer …
Aon announced from its London office that it has formed “Aon Global Risk Consulting [AGRC], creating one of the largest dedicated risk consulting, captive management and risk engineering groups in the world.” The new unit’s formation coincides with the launch …
Ciicago-based Hub International Personal Insurance, a division of Hub International Limited , has launched HUBPro, a homeowners’ insurance product designed for people living in areas that have a high risk of catastrophic events. The product is being offered on homes …
Lloyd’s and the London markets are about to launch a new campaign “to encourage the brightest young talent in the marine market to play a role in shaping its future.” The Lloyd’s Market Association (LMA) and the International Underwriting Association …
London-based Xchanging announced plans for an initial public offering, and the listing of its shares on the London Stock Exchange. The offer is limited to the UK and selected European countries; no listing will be made in the U.S. or …
Community Banks Nuts & Bolts: Progressive Casualty Insurance Co. has added a new coverage to its American Bankers Association-sponsored Financial Institution Program. The new coverage, Privacy Liability and Mitigation Expense, is designed to address banks’ liability arising from unauthorized access …
The request was simple enough: Lloyd’s underwriters had been approached to insure the movement of seven paintings, including one by Cezanne, from Russia to London for valuation and sale. So Lloyd’s contacted the Art Loss Register, a small private company …
Many buildings are crowded and not up to code 8 Carpooling parents in Conn. get a break DMV says no special driver’s license needed 10 N.J. court: public workers may sue negligent owners Ruling abolishes the “firefighter” rule 10 Conn. …
