Industry News
Troubled Tower Ends Relationship with PwC; Fitch Announces Downgrade, Rating Withdrawal
Tower Group International has fired PricewaterhouseCoopers as its accounting firm, six months after announcing it would restate previously filed financial statements for 2011 and 2012 due to ...AIG Says Whistleblower Suit Alleging Unlicensed Life Ins. Sales Without Merit
American International Group Inc. defrauded the U.S. by failing to disclose it was selling insurance without a license during negotiations with the government over a bailout in the financial crisis, ...
Brit PLC Grabs QBE’s Aviation Business After Solid Quarter
Brit PLC, a global specialty insurer and reinsurer focused on property, casualty and energy, will snatch up QBE Underwriting Ltd.'s renewal rights to its London-based Lloyd's Aviation Business. ...
Oxbridge Re Gets Off To a Promising Start
Oxbridge Re Holdings, a fledgling reinsurer for property/casualty insurers in the U.S. Gulf Coast region, reported its first financial results as a public company. The numbers reflect both potential ...
Tower Group Fields Unsolicited Offer From Eastern European Insurer
An Eastern European insurer based in countries including Romania, Bulgaria and Macedonia submitted a surprise bid to snatch up Tower Group International, an unexpected wrinkle in Tower's increasingly ...
Motorists Mutual to Acquire Southeast, Midwest Insurer
Ohio-based Motorists Mutual Insurance Co. has agreed to buy the stock of Consumers Insurance USA, which is based in Murfreesboro, Tenn. Consumers Insurance will become a wholly owned subsidiary of ...
WSJ: Two AIG Execs In the Lead To Become CEO
AIG's heads of property casualty and life-insurance/retirement appear to be the two leading candidates to become the conglomerate's next CEO. As The Wall Street Journal reported, current CEO Robert ...
XL Group Hopes Online Video Reduces Workplace Injuries
XL Group said it is unveiling a new tool for its North American construction clients designed to help improve safety in the workplace. Dubbed Risk Resource, the online video series gives a variety of ...