Royal & Sun A state hearing officer recommended Delaware’s insurance commissioner approve the proposed management buyout and eventual dissolution of Royal and Sun Alliance Insurance Group’s U.S. operations. The subject of a lengthy hearing last month, the proposed buyout awaits …
Report: Customer satisfaction doesn’t guarantee loyalty The insurance industry needs to improve its customer retention strategies, because a satisfied customer isn’t always a loyal one, according to the World Insurance Report, an international study of more than 10,000 insurance customers, …
The National Association of Insurance Commissioners named its 2007 committee chairs and vice chairs. The new committee assignments are for one year. International Insurance Relations Committee: Chair Diane Koken, commissioner, Pennsylvania Insurance Department, and Vice Chair Dorelisse Juarbe Jiminez, commissioner, …
Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead of Mother Goose books. He is the third generation to enter the insurance business in his family. Sullivan is …
Even though they may not be compelled by law to buy locally admitted D&O insurance, many companies may find that the global solution they’ve purchased for years is no longer satisfactory. A company that acquires a new property in a …
A.M. Best Co. has assigned a financial strength rating of “A” (Excellent) and an issuer credit rating of “a+” to Sweden’s Skandia Insurance Company Limited and Skandia Life Assurance Company Limited, which is based in the UK. The outlook for …
HCC Insurance Holdings Inc. announced that Stephen L. Way, chairman and founder of HCC, is retiring from its Board of Directors. Frank J. Bramanti, chief executive officer of HCC, said, “On behalf of the entire Board of Directors, employees and …
The U.K.’s Chartered Insurance Institute (CII) has launched a A new learning facility, the “Broker Academy,” under the direction of its Faculty of Insurance Broking.” David Slade, Chairman of the CII’s Faculty, described the initiative as signaling “the dawn of …
Aon Re Global announced several management changes in its newly formed Europe-Middle East-Africa (EMEA) region and in the UK. Aon Re Global’s European operations have been combined with those in Israel, Bahrain and South Africa to form Aon Re Global-EMEA. …
Zurich Financial Services Group announced that “based on preliminary estimates it expects aggregate claims payments related to winter storm Kyrill not to exceed $150 million before tax.” Zurich noted that the “estimate is well within the Group’s net retention for …
