Industry News
Geophysicist: Was Colorado Quake From Wastewater Injections?
A geophysicist from the University of Colorado is hoping to settle the question of whether a small earthquake May 31 near Greeley was caused by wastewater injection wells. The Greeley Tribune ...
Heritage Announces Deal for 35,000 Policies of Insolvent Fla. Insurer
Clearwater, Fla.-based Heritage Insurance Holdings, Inc. announced Wednesday that it reached an agreement to offer coverage for the 35,000 policies of Sunshine State Property & Casualty Insurance ...
Swiss Re’s Admin Re Buying Policies, Assets from HSBC Life
Swiss Re announced on Wednesday that its Admin Re unit has agreed to acquire individual and group pension and related annuity policies from HSBC Life (UK) Limited. Under the terms of the agreement, ...
Ironshore’s Pembroke Goes Way Out There—With Personal Accident Cover for Space Tourists
Ironshore International announced Wednesday that its Pembroke Managing Agency Limited through its Lloyd's Syndicate 4000 ("Pembroke") is introducing insurance coverage for passengers and participants ...
Industry Loss Reserve Redundancy Disappearing: Aon Benfield Analysis
According to an analysis published by Aon Benfield, loss reserves held by U.S. property/casualty insurers for commercial lines are deficient by $2.8 billion, with workers compensation coming in ...
Validus Holdings $600M Deal for Western World Rumored
Validus Holdings Ltd., the Bermuda-based reinsurer, is near an agreement to acquire specialty insurer Western World Insurance Group, people familiar with the matter said. Validus could announce a ...AIG Commits $1.5B to Lending Venture for Mid-Sized Cos. With Oak Hill
American International Group Inc., the largest property/casualty insurer in the U.S. and Canada, joined private-equity firm Oak Hill Capital Management to help start a lender serving medium-sized ...
Executive Changes Announced at GR-NEAM
On Tuesday, Gen Re announced several planned organizational changes at GR–NEAM prompted by Gerard (Jerry) Lynch's announcement that he will be retiring Dec. 31, 2014. Effective immediately: ...