Tropical storm Alex slowed oil spill clean-up and containment work in the Gulf of Mexico and drove more petroleum into fragile Gulf wetlands and beaches Thursday, with any permanent fix to BP Plc’s ruptured deep-sea well still several weeks away. …
Torus has announced that it has completed the acquisition of Glacier Insurance AG from the Glacier Group [See IJ web site – https://www.insurancejournal.com/news/international/2010/05/04/109510.htm ]. The Liechtenstein-headquartered specialty insurer, which has branch offices in Zurich, Cologne and London, will be renamed …
A.M. Best Co. has upgraded the issuer credit rating to “a+” from “a” and affirmed the financial strength rating of ‘A’ (Excellent) of UK-based Markel International Insurance Company Limited (MIICL), both with stable outlooks. Best said the rating upgrade reflects …
Willis Re, the reinsurance arm of Willis Group Holdings announced the appointment of James Byng Property Resource Group Leader for its International and Specialty reinsurance business. He will assume this new position on August 1, 2010 and will report to …
In a recently published report Standard & Poor’s Ratings Services said that it believes “underlying underwriting performance in the U.K. non-life insurance industry has come under increasing pressure from margin erosion.” The report, “Price Rises Give Cause For Cautious Optimism …
BP payout should far exceed what Exxon spent on Valdez The company’s $20 billion fund may not be enough Accountability may take years if not decades to assess Many federal laws allow civil, criminal liability From a legal perspective, BP’s …
Ironshore International Ltd. has announced that the Ironshore Environmental Insurance division will provide coverages on a global basis through its Pembroke platform in London. Pembroke Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best …
Tropical Storm Alex is expected to reach hurricane strength on Tuesday, with high winds and vast waves set to hamper BP Plc’s latest efforts to contain the largest oil spill in U.S. history. Shares in London-based energy giant BP fell …
Six U.S. insurance companies and Lloyd’s of London are suing for reimbursement of millions of dollars for equipment abandoned inside a Utah mine that collapsed in 2007, killing six miners and three rescuers. The suit was filed in Utah’s 3rd …
Marsh has appointed Caroline Woolley as Property Practice Leader, and Alain Petit-Lambotte as Casualty Practice Leader, for Europe, the Middle East and Africa (EMEA). A bulletin from Marsh’s London office explained that the new leaders are “part of its drive …
