Houston, Texas-based Delta General Agency Corp. celebrates its 50th anniversary in the insurance business this year. Delta was founded in 1959 by Avrohm Wisenberg, a long-time Houston retail agent, as a means of providing access by agents in Texas to …
A.M. Best Co. has commented that its ratings of Lloyd’s of London, Lloyd’s Reinsurance Company (China) Limited, the Society of Lloyd’s and of debt issued by the Society remain unchanged following the announcement that the Society has offered to repurchase …
Marsh has appointed Flavio Piccolomini as CEO of Marsh Italy and Emanuele Cordero di Vonzo as General Manager. Piccolomini joins Marsh after 18 years with Willis, where, after holding a number of different positions, he was CEO for Continental Europe. …
According to a report from Willis Group Holdings, “over the last three months, London market insurers reported an average premium reduction of eight percent on renewal business for the commercial sector’s Directors & Officers’ (D&O) liability.” In addition Willis said …
Oh, for the days when a little irrational exuberance was the biggest problem facing the world’s bankers and financiers. It is way beyond that now. With the financial world mired in a stubborn credit crisis and the U.S. economy in …
Citing a strong capital position and current market conditions, Lloyd’s of London has offered to buy back up to 100 million pounds ($145 million) worth of bonds at a discount. The offer applies to fixed/floating rate subordinated notes due 2024 …
Superintendent Eric Dinallo Redefines the Role of Regulator in the Insurance Industry New York Insurance Superintendent Eric Dinallo was thrust into the national spotlight last year as the insurance industry’s then-largest company, American International Group, began its precipitous collapse. It …
Munich Re German reinsurer Munich Re has successfully concluded the acquisition of specialty insurer HSB Group from American International Group for $739 million. The deal was originally announced last December. The purchase price in cash was financed by Munich Re …
Understanding the Rights and Obligations Imposed on the Insured One of the most powerful tools available to an insurer in adjusting first-party property claims is the right to examine the insured under oath (EUO). Thus, it is important that every …
Thoits Insurance of San Jose, Calif., promoted Paul Saich to CEO. Saich replaces Don Way, who had been with Thoits for 44 years, and will remain as chairman of the board. Saich joined Thoits Insurance in 1996 and most recently …
