Business Moves
Safeco moves to New York Stock Exchange, to Lay off 240 Seattle-based Safeco intends to list its common stock on the New York Stock Exchange (NYSE). Safeco anticipates the trading of its common stock to commence on the NYSE on …
States go global for new ideas to improve transportation safety
Searching for ways to improve road safety without breaking the bank, state transportation officials in the U.S. have found inspiration in ideas being implemneted abroad. Low-cost devices increasingly popping up on treacherous roadways and crammed crossroads across the nation have …
States go global for new ideas to improve transportation safety
Searching for ways to improve road safety without breaking the bank, state transportation officials in the U.S. have found inspiration in ideas being implemneted abroad. Low-cost devices increasingly popping up on treacherous roadways and crammed crossroads across the nation have …
Lloyd’s CEO Gives CII Keynote Speech
Richard Ward, in his first major speech since becoming Lloyd’s CEO, opened the U.K.’s Chartered Insurance Institute’s (CII) annual conference in Glasgow yesterday Oct. 5 with a discussion of the “pivotal role of insurance in a volatile, uncertain and dangerous …
Catlin’s CEO Assesses ‘Benign’ Hurricane Season
Stephen Catlin, the chief executive of international specialty property/casualty insurer and reinsurer Catlin Group Limited, Forecast a decline in premiums for non-catastrophe exposed classes of insurance and reinsurance, if the current hurricane season remains benign. However, in his lecture on …
FSA Head Warns U.K. Brokers on Commission Disclosure
John Tiner, the head of the U.K.’s Financial Services Authority, warned U.K. brokers that, unless the market comes up with a solution on the issue of disclosing brokers’ commissions, the FSA would be “taking a look at mandating” one in …
Best Puts R&SA Ratings on Review/Positive
A.M. Best Co. has placed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit ratings (ICR) of “a-” of the U.K.’s Royal & Sun Alliance Insurance Group plc and its rated subsidiaries under review with positive implications. …
Allianz Cornhill to Change Name; Continue Expansion
Allianz Cornhill, one of the U.K.’s largest general insurers and part of Germany’s Allianz Group since 1986, has announced a number of developments for its business, including a change of its corporate name to Allianz Insurance plc. The changeover is …
IAG enters UK Market with Purchase of Hastings and Advantage
Insurance Australia Group Limited (IAG) has acquired the U.K.-based broker Hastings Insurance Services Limited, the UK’s fifth largest motor insurance broker trading under the names of Hastings Direct and Peoples Choice. Australia’s largest insurer also acquired Advantage Insurance Company Limited, …
R&SA Sells U.S. Business to Arrowpoint Capital; Terminates Stock Listing
The U.K.-based Royal & Sun Alliance Insurance Group plc (R&SA) announced the sale of its US operation to Arrowpoint Capital, a vehicle set up by the current R&SA US management team. The Company also said it is in the process …
