Mike Hammond, the CEO of Jardine Lloyd Thompson Risk Solutions Ltd., told delegates at a conference in Lugano, Switzerland, that the “insurance industry must invest in the necessary technical skills if it is to achieve the efficiencies in the process …
A.M. Best Co. has downgraded the issuer credit ratings to “aa-” from “aa” of Transatlantic Reinsurance Company, Putnam Reinsurance Company (both of New York, N.Y.) and Trans Re Zurich (Zurich, Switzerland), all reinsurance subsidiaries of Transatlantic Holdings Inc. (Transatlantic) (New …
A.M. Best Co. has downgraded the financial strength rating to B++ (Very Good) from A (Excellent) of Zurich Specialties London Limited (ZSL) (United Kingdom). The rating has been removed from under review with negative implications. At the same time, A.M. …
GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event …
Louisiana state police say a New Orleans-based romance writer’s $1.8 million insurance claim for two diamond-encrusted bracelets was itself a romance: an extravagant story lacking basis in fact. Preposterous, says her attorney. Ruth L. Goodman—better known as Meagan McKinney, author …
A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of events. It also finds that the U.S. …
The Board of Directors of American International Group, Inc. (AIG) confirmed that it has received a letter from David Boies on behalf of its Chairman M. R. Greenberg, indicating his intent to retire from his position as chairman of the …
Only two thirds of leading European companies operate a democratic policy of one-share one-vote, according to a study prepared for the Association of British Insurers (ABI) by Deminor Rating, a Brussels-based corporate governance consultant. The study, which examined the capital …
Zurich-based Converium announced that Dr. Markus Dennler, former CEO of Credit Suisse Group’s Life & Pensions business, and Rudolf Kellenberger, former Deputy CEO of Swiss Re, will run for election as members of Converium’s Board of Directors for a three-year …
Swiss Re joined Munich Re in reporting strong 2004 results. The group reported net profits of CHF 2.5 billion ($2.167 billion) compared to CHF 1.7 billion ($1.474 billion) in 2003, a 45 percent gain, despite 2004’s natural catastrophe losses. Swiss …
