UK Flood Model Risk Management Solutions has released a major new upgrade to its U.K. Inland Flood Model. “The upgraded model will enable all segments of the insurance industry to drill down to a finer level of detail than ever …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
Subprime and Credit Crisis Filings Show No Sign of Abating Is litigation stemming from the subprime- and credit crisis-related activity increasing directors’ and officers’ insurance premiums? Despite the steady flow of new securities litigation during the first half of 2008, …
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
ACE Limited reported that it has completed the previously-announced re-domestication of the company from the Cayman Islands to Zurich, Switzerland. ACE said it continues to be registered with the Securities and Exchange Commission (SEC) and prepare its financial statements in …
Fitch Ratings has placed the ratings of XL Capital Ltd. and its P/C (re)insurance subsidiaries, including the Issuer Default Rating (IDR) and the Insurer Financial Strength (IFS) rating of lead (re)insurance companies XL Insurance (Bermuda) Ltd. and XL Re Ltd. …
Four Ohio parents have filed a federal lawsuit against makers of baby bottles, claiming the bottles were made from a harmful chemical that sparked congressional hearings and prompted the world’s largest retailer to phase out the products. The complaint filed …
ACE Limited announced that it will terminate the ACE Limited shareholder rights plan in conjunction with the Company’s re-domestication to Switzerland. ACE said the termination would “be accomplished by an amendment accelerating the final expiration date of the plan to …
The Starr Foundation of New York and Starr International Foundation of Switzerland have announced a joint grant to the China Charity Federation totaling $1 million for earthquake relief in China. The donation was facilitated by Give2Asia. “Our heartfelt concern goes …
A.M. Best Co. has affirmed the financial strength rating of ‘B+’ (Good) and the issuer credit rating of “bbb-” of Inter-Industry Insurance Company Limited (III), which is based on the Isle of Man, and its wholly owned subsidiary, Insurco Ltd. …
