Steamship Mutual, a protection and indemnity club providing marine liability insurance worldwide, announced that Gary Rynsard will succeed James Stockdale as senior partner of Steamship Insurance Management and chief executive of Steamship Insurance Management Services Ltd, effective Aug. 20, 2009. …
BNP Paribas, the French bank embroiled in plans to carve up struggling rival Fortis, posted an expected fourth-quarter loss and said market conditions would remain tough in 2009. France’s biggest bank by market capitalisation on Thursday reported a net loss …
Chicago touted its financial strength in its 2016 Olympic bid Friday, with organizers saying they have at least a $1 billion safety net if the games exceed an estimated $4.8 billion price tag. Chicago is competing against Tokyo, Madrid and …
London-based insurer and reinsurer Beazley Group is acquiring Boston-based First State Management Group, an underwriting manager specializing in excess and surplus lines commercial property insurance for $35.4 million in cash. First State is a subsidiary of The Hartford Financial Service …
By year end, American International Group Inc. expects to have largely wound down a money-losing financial products unit that was the cause of its near-collapse last year, said Gerry Pasciucco, hired three months ago to oversee the closure. “2009 is …
Markel International Limited, the specialty property and casualty insurer, has appointed Tomas Nilsson as claims manager for Markel International Sweden. He will be based in Markel’s Stockholm office. Ove Staaf, managing director of Markel International Sweden noted that Nilsson has …
Willis Group Holdings, the third largest global insurance broker, said Wednesday that its fourth-quarter net income fell about 35 percent, hurt by declines in foreign currency and integration costs from a recent acquisition. Net income was $62 million, or 37 …
The London-based Glencairn, a company within Faber & Dumas, the third-party wholesale insurance broker established by Willis, has announced the establishment of an energy division within the London market and the appointment of Alan Brooks as the Chief Executive of …
Lloyd’s might be better known for its historic insurance market and its iconic modern building, but it also participates in a number of charitable activities in and around London. This year Lloyd’s is celebrating the 20th anniversary of its “Community …
Former Iowa Insurance Commissioner Therese M. Vaughan, Ph.D., has been named chief executive officer of the National Association of Insurance Commissioners (NAIC), effective Feb. 18, 2009. Vaughan replaces Catherine J. Weatherford, who left the NAIC in July 2008. Andrew Beal, …
