Odyssey Re Holdings Corp. has formed Newline Insurance Company Limited (NICL), described as “a casualty-focused insurance company based in London, England.” Odyssey Re said it had received “all necessary regulatory approvals” from the U.K.’s Financial Services Authority and that NICL …
As part of a scheduled meeting with investors and analysts the U.K. ‘s Royal & Sun Alliance Insurance Group plc has issued a bulletin detailing how it plans to “drive profitable performance” and how it plans to achieve its new …
Praetorian, Alea North America Specialty insurer Praetorian Financial Group agreed to acquire Alea North America Specialty Insurance Co., an affiliate of Alea Group Holdings Ltd. of Hamilton, Bermuda. The sale is subject to regulatory approval and other customary conditions. Alea …
From the playground to the classroom to the office — bullies can be found in all walks of life, says an anti-bullying advocacy group vying for new legislation that could potentially outlaw workplace bullying. But how would new anti-harassment legislation …
Standard & Poor’s Ratings Services reacted quickly to the announcement that AXA and Credit Suisse have reached an agreement to sell Winterthur, the Swiss bank’s insurance division to the French insurer for CHF 12.3 billion (around $10 billion – €7.9 …
XL Insurance Ltd., a subsidiary of Bermuda’s XL Capital Ltd., announced that its UK-based professional lines business has added a new product specifically tailored to the directors and officers insurance market in the UK. The new product, known as “A …
Whether in the U.S., the U.K., Bermuda, or elsewhere, the message from reinsurance companies is the same: demand is up, and capacity is down. However, it is still a lively market, with alternative capital sources such as sidecars, catastrophe bonds, …
Widely circulated reports indicate that France’s AXA Group has entered into serious negotiations with Credit Suisse aimed at acquiring the bank’s Winterthur Group of insurance companies. The reports from Agence France Presse, the Wall Street Journal and the New York …
In a speech to the House of Lords, given as part of a discussion on “London as a World Financial Center,” Lord Peter Levene stressed the financial health and leading position of both London and the Lloyd’s market. He took …
St. Paul Travelers Cos. is slowly phasing the “St. Paul” out of its name. “St. Paul” is already gone from the company’s marketing for consumer auto and home insurance, and it will be eliminated next week from advertising to business …
