Bermuda’s PartnerRe Ltd. announced that claims relating to its exposure to Windstorm Kyrill, which hit Europe last week, are expected to be between $50 and $65 million. “Windstorm Kyrill battered the U.K., France, the Netherlands, Germany and several other Northern …
Standard & Poor’s Ratings Services has affirmed its “BBB” long-term subordinated debt rating on the $600 million 7.249 percent perpetual, subordinated, callable, fixed-/floating-rate, noncumulative preferred shares issued by Bermuda-based Catlin Insurance Co. Ltd. (rated A-/Stable/–), following receipt of final documentation. …
A proposed management buyout and eventual dissolution of Royal & Sun Alliance Insurance Group’s U.S. operations could leave policyholders in jeopardy, according to critics trying to halt the deal that is before Delaware regulators. The proposed buyout was the subject …
Insurers must address global climate change as they cope with the growing cost of extreme natural disasters, said Lord Peter Levene, chairman of Lloyd’s, the London insurance market. “We cannot risk being in denial on catastrophe trends,” Levene said today …
Aviva plc, the U.K.-based savings, investments and insurance group, announced that Group Chief Executive Richard Harvey intends to retire July 11, 2007. The Company’s Board of Directors has named Andrew Moss, currently Aviva’s finance director, to succeed him. Under Harvey’s …
Standard & Poor’s Ratings Services announced that it “has assigned its ‘BBB’ long-term preliminary ratings to the proposed U.S. dollar-denominated, perpetual, subordinated, callable, fixed-/floating-rate, noncumulative preferred shares and to the proposed fixed-/floating-rate, subordinated, callable notes to be issued by Bermuda-based …
Argonaut Group Inc., based in San Antonio, announced that Gregory M. Vezzosi has joined the organization as executive vice president and chief operating officer. Vezzosi will report to Mark E. Watson III, president and chief executive officer. Watson said Vezzosi …
Marsh & McLennan Companies Inc., the nation’s largest insurance broker, has selected a buyer for its Putnam Investments mutual funds and investment management division, according to a report last Friday. Marsh & McLennan had reached an “agreement in principle” to …
Insurance is a serous business. It’s not easy finding humor in the insurance headlines. But in 2006, a few stories that brought a smile snuck through the disasters and dire warnings. No belly laughs, for sure, but a little relief …
Insurance is a serous business. It’s not easy finding humor in the insurance headlines. But in 2006, a few stories that brought a smile snuck through the disasters and dire warnings. No belly laughs, for sure, but a little relief …
