Endurance Specialty Holdings Ltd. announced that Hans-Joachim Guenther would join Endurance Worldwide Insurance Limited in London as Chief Underwriting Officer for Reinsurance and Head of Reinsurance for Europe. He has 19 years of experience in the reinsurance market, most recently …
A concrete supplier for Boston’s Big Dig tunnel has agreed to pay a $50 million settlement to end civil and criminal investigations into more than 5,000 truckloads of substandard concrete it delivered to the massive highway project, state and federal …
In 2006, total U.S. premium ceded to offshore reinsurers was $54.7 billion and ceded recoverables totaled $114.2 billion, according to a report released by the Reinsurance Association of America (RAA), “Offshore Reinsurance in the U.S. Market: 2006 Data.” That represents …
Gerber Products Co. recalled all packages of its organic rice and organic oatmeal cereals Friday because of potential clumping of the baby food, which can pose a choking hazard. Gerber said it has received complaints of choking but no reports …
Zurich Financial Services Group announced the appointment of Brandon S. Mathews, a 37year-old American, to the newly created position of Head of Microinsurance as of June 1, 2007. He assumes responsibility for “implementing the Group-wide initiative to identify and refine …
Risk Management Solutions has launched an extensive new model for earthquake risk in Europe, which it believes is the “most comprehensive model of its type.” It covers Austria, Belgium, Germany, Italy and Switzerland, as well as Liechtenstein and Monaco. “The …
Standard & Poor’s Ratings Services has assigned its ‘B’ senior secured debt rating to the $75 million class A, series 2007-I principal-at-risk variable-rate notes issued under the newly established shelf program, Nelson Re Ltd., sponsored by Glacier Reinsurance AG (Glacier …
Zurich Financial Services Group has established a new business unit for its direct business in Europe effective July 1, 2007. Called quite plainly “Direct Business,” the new unit will be part of Zurich’s Europe General Insurance (EGI) business division and …
A.M. Best Co. has assigned a financial strength rating (FSR) of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to PARIS RE S.A., the main operating company of the newly formed PARIS RE group. Best also assigned an …
Standard & Poor’s Ratings Services has assigned its “B” senior secured debt rating to the $75 million class A, series 2007-I principal-at-risk variable-rate notes issued under the newly established shelf program, Nelson Re Ltd., sponsored by Glacier Reinsurance AG (Glacier …
