RSA Insurance Group PLC said that it plans to cut 1,200 jobs as it reported a 7 percent fall in its full-year profit. For the year ending Dec. 31, RSA reported a profit of 586 million pounds ($831 million), down …
Willis HRH, the North American business of Willis Group Holdings, reported that David Finnis has been named executive vice president and national property practice leader, effective immediately. Finnis, who joins Willis HRH from Integro Insurance Brokers, will report to Leslie …
Reinsurers have begun 2009 determined to wrest back the initiative from a period of softening rates and savagely declining investment returns. As a consequence, underwriters are increasingly being governed by the financiers dictating a return on capital and forcing through …
W. R. Berkley Corp. announced the formation of Berkley Agribusiness Risk Specialists, a new division of its Continental Western Group, LLC. Based in Des Moines, Iowa, Berkley Agribusiness Risk Specialists will operate nationally and offer property and casualty insurance products …
Willis Group Holdings has announced a series of international appointments in Willis Global Placement, its newly formed entity that co-ordinates worldwide placement strategy for the benefit of Willis clients. The company announced the following appointments: · Nigel Roberts is appointed …
Chicago is hoping its financial strength will help it win the 2016 Olympic Games. Organizers, led by a well-known Chicago insurance executive, have incorporated into their bid what they say is a $1 billion safety net if the games exceed …
Court Rulings Strike Fear That Surplus Lines Could Lose Freedom Have you ever seen anything like this in Florida? Never. I haven’t seen anything like this anywhere in the country. If it were a horror flick it might be titled, …
The Florida surplus lines industry may be challenged right now by regulatory uncertainty stemming from the Essex and CNL Hotels rulings but it is not letting that blind it to opportunities. One opportunity is the pending pullout by State Farm, …
Burnett Holdings, QBE New Orleans-headquartered insurance wholesaler Burnett Holdings Inc. (Burnett) was acquired by QBE Holdings Inc. (QBE), part of Sydney, Australia-based QBE Insurance Group, effective Dec. 31, 2008. The company will continue to operate under the name of Burnett …
Taiwan’s China Life will buy most of Prudential Plc’s local insurance business, with the UK firm taking around a 10 percent stake in China Life, valued at T$2.18 billion ($64 million), the companies said. The sale by the UK’s No.2 …
