German Chancellor Angela Merkel and the head of the IMF warned of financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, while investors fled to the safe havens of the dollar and gold. Greek public …
London-based Amlin plc, one of Lloyd’s and the UK’s best known insurers, has announced plans to establish a reinsurance company in Switzerland to serve European clients. Amlin said it believes that the company “will provide the European insurance market with …
Somali pirates on Wednesday hijacked the China-bound oil tanker MV Moscow University 350 miles (565 km) off the coast of Yemen with 23 Russian crew and crude oil worth $52 million on board. “The oil is Chinese. It belongs to …
H.W. Kaufman Financial Group, a privately held company headed by Alan Jay Kaufman, has acquired Colorado-based US Reports Inc. – a national loss control inspection, premium audit and risk management services firm. US Reports is a family owned 70-employee risk …
A cloud of abrasive volcanic ash drifting south from Iceland disrupted flights to and from Ireland and Scotland anew on Wednesday. Two airports serving Glasgow, Scotland’s largest city, were closed until at least 1800 GMT, while flights from the Irish …
Airports in Ireland and parts of Britain were closed again for some hours on Tuesday because of the cloud of volcanic ash drifting south from Iceland that wreaked havoc on European air travel last month. Flights in much of continental …
Torus announced that it has acquired Glacier Insurance AG, a subsidiary of the Glacier Group. The transaction is expected to be completed in May, 2010, subject to relevant regulatory approvals. [See also A.M. Best’s comment at: https://www.insurancejournal.com/news/international/2010/05/04/109545.htm]. Glacier Insurance AG …
Excess and surplus insurers endured another year of declining premiums in 2009, writing 7.5 percent fewer direct premiums versus the prior year, according to SNL Financial’s analysis of the U.S. E&S market. The slide comes after significant declines in 2008, …
The acquisition of wholesale insurance broker Colemont Insurance Brokers by its competitor AmWINS Group gives AmWINS entry into international markets for the first time and a bigger presence in Texas, where Colemont is based. The deal also enhances some of …
Keystone Insurers Group (KIG) has added two more to its growing list of partner agencies. Jessie Insurance Agency of Campbellsville and Insurance Service Centers of Southeast Kentucky increase to 16 the number of KIG partners in Kentucky and join KIG’s …
