Marsh has released key findings from its Financial Institutions – Captive Benchmarking Analysis report, to be published in September. The bulletin described the study as the “most in-depth review of the use of captive insurance companies by global financial institutions.” …
Willis Group Holdings announced the opening of a new captive management operation, Willis Management (Malta) Ltd. “This expansion is in response to growing captive insurer and third party writer opportunities, as Malta establishes itself as a leading financial center,” said …
Marsh’s London office has issued a new “global benchmarking report,” which examines the use of captive insurance companies by today’s global firms. The report -“Next Generation Captives – Optimising Opportunities” – found that although annual captive premium income is estimated …
Marsh has appointed Jonathan Groves as Leader of its Captive Consulting Practice for Europe, Middle East and Africa (EMEA). He will be based in London, and will have overall responsibility for new business, team management and the development of captive …
Fire crews in northwest Montana worked to keep a fast-moving wildfire from destroying homes Wednesday, as officials near here asked residents near the Meriwether fire to leave their seasonal homes. The 3,000-acre Garceau fire, likely sparked by lightning Tuesday morning, …
A study from Marsh’s London office finds that “UK companies increasingly are considering captive formation, driven by a desire to implement sophisticated risk management regimes and address the total cost of risk.” Marsh’s report indicates that “many companies are enjoying …
Allmerica, The Hanover Insurance Group Allmerica Financial Corporation will change its name to The Hanover Insurance Group Inc. effective Dec. 1 and its stock will trade on the New York Stock Exchange under the stock ticker symbol, THG. Allmerica is …
Adirondack Trust Co. in Saratoga Springs, N.Y. has acquired Clients First Insurance Agency Inc. of Ballston Lake. This bank has now owns three agencies, having previously acquired Wise Financial Services of Saratoga Springs and Round Lake Insurance Agency of Malta, …
Lloyd’s Chairman Lord Peter Levene announced that the U.K.’s Financial Services Authority (FSA) has given Lloyd’s authorization to write direct business in eight of the new European Union accession countries (See IJ Website May 3). Lloyd’s said the new licenses …
May first marked the most important expansion of the European Union in its 50 year history, as 10 countries joined the 15 existing members to create an economic block of 455 million people stretching from the Western shores of Ireland …
