Industry News
Endurance Launching U.S. Commercial Retail Property Insurance Unit
On Monday, Endurance Specialty Holdings Ltd. announced that Mark Maritzen has joined the company as executive vice president and head of commercial property within its U.S. Insurance operation. ...
Arch Shakes Up Exec Roster to Back Expansion Plans
Arch Capital Group Ltd. has taken steps over the last year to grow its mortgage insurance and reinsurance business, and has shaken up its executive roster in order to accommodate the expansion. Among ...
Non-Life Cat Bond Volumes Hit Q2 Record: Willis Capital Markets
The non-life catastrophe bond market issued record volumes during the second quarter, Willis Capital Markets & Advisory (WCMA) said, adding that it expects full-year issuance to be between $8 ...
ACE Buying Itaú Seguros for $685M to Become Top P/C Insurer in Brazil
ACE Limited announced Friday that it will acquire the large corporate property/casualty business of Itaú Seguros, S.A. from Itaú Unibanco S.A. for roughly $685 million—a deal that will make ACE ...
AIG Units Suing to See Asbestos Trust Records; Millions in Fraudulent Payments Suspected
Six insurance companies are suing an asbestos personal injury trust set up by a U.S. unit of Philips that the insurers suspect has been making millions of dollars in fraudulent payments to parties ...
CEO of Oregon WC Writer Accused of Harassment Plans Lawsuit After Firing
The man fired as leader of Oregon's workers compensation agency after just three months on the job has filed notice that he plans to sue over his ouster. John Plotkin alleges his predecessor at SAIF ...
Zurich Sells Underperforming Russian Retail Unit to Olma Group; Keeps Corporate Biz
Zurich Insurance Group AG, the largest Swiss insurer, said the sale of its Russian retail unit will lead to an estimated loss of about $300 million. The insurer said it is selling the business to ...
Private Insurers Taking to South Carolina Coast
More private insurers are selling wind coverage to South Carolina coastal property owners, leading to a decline in the population of the state's windpool. The South Carolina Wind and Hail ...