May 26, 2010
U.S. National Hurricane Center director Bill Read said Tuesday that earthquake-ravaged Haiti was his biggest concern as another Atlantic hurricane season gets under way. He also acknowledged that a powerful storm could wreak havoc with efforts to fight the massive …
May 21, 2010
Joe Plumeri, Chairman and CEO of Willis Group Holdings, “told an audience of insurance executives that the new UK Government must address the struggling economy to spur growth in the British insurance industry, while calling on the EU to resolve …
April 20, 2010
While some of the ash from the Eyjafjallajökull volcano in southern Iceland has fallen to the earth’s surface, property and agricultural damage is not expected to be a concern, according to a catastrophe risk modeling firm. AIR Worldwide said the …
March 31, 2010
Irish regulators this week won a court order to place Quinn Insurance Ltd. under administration, a form of bankruptcy protection. John Hennessy, a lawyer representing the Financial Regulator, told a court that the agency believed Quinn Insurance had breached its …
March 29, 2010
Illinois-based Arthur J. Gallagher & Co. has agreed to acquire substantially all of the insurance brokerage business of FirstCity Partnership Ltd. of London, England. The transaction is expected to close in April 2010. Terms were not disclosed. FirstCity Partnership Ltd. …
March 22, 2010
The devastating effects of Hurricane Ivan in the summer of 2004, when it crossed the Caribbean Sea causing major damage in Grenada, Jamaica and the Cayman Islands, produced one good thing. The Caribbean Community and Common Market (CARICOM) heads of …
March 11, 2010
London-based specialty insurer Hiscox, which launched a significantly expanded U.S. presence in 2006, saw gross profits reach record levels ($481 million) in 2009. In this exclusive interview with Insurance Journal, Hiscox Chief Underwriting Officer Rob Childs discusses the profitability for …
March 7, 2010
The founder and retired chairman and CEO of the world’s largest insurance broker, Aon, has revealed the management team and a second subsidiary for his new global specialty insurance operation whose first company was unveiled in December. Pat Ryan announced …
March 2, 2010
Standard & Poor’s Ratings Services has placed its ratings on Prudential PLC and its operating subsidiaries, including the ‘A+’ long-term counterparty credit rating on Prudential, on CreditWatch with negative implications. S&P’s action follows the announcement that Prudential has reached an …
March 2, 2010
Standard & Poor’s Ratings Services has placed its ‘A+’ counterparty credit and financial strength ratings on American International Assurance Co. Ltd. (AIA) and American International Assurance Co. (Bermuda) Ltd. (AIAB) on CreditWatch with developing implications. The ratings on American International …