News
Allianz Global Corporate & Specialty Opens New Branch in Sweden
Allianz Global Corporate & Specialty AG (AGCS) has opened its newest branch in Stockholm, Sweden, further expanding its services within the Nordic Region. Since 2009, AGCS has been active in ...
Insurity Survey Uncovers Tech Issues in Regulatory/ISO Compliance
Costs for IT resources focused on complying with regulations are rising for property/casualty insurers, and many carriers cannot even keep up to date with circulars from the Insurance Services ...
Reinsurance Deals Inked to Help Troubled Tower Group
Tower Group International, Ltd. said Tuesday that it is ceding more than 20 percent of its commercial liability business and 30 percent of its workers comp business to three reinsurers under pro-rata ...
CNA Said to Seek Buyer for $500M Annuities Unit: Bloomberg Sources
CNA Financial Corp., the insurer controlled by Loews Corp., is looking to sell its payout annuities business to focus on property and casualty coverage, three people with knowledge of the matter ...
Ex-AIG Chief Greenberg Fails to Persuade Judge to Leave Case
Former AIG Inc. Chairman Maurice "Hank" Greenberg lost a second bid to have a judge remove himself from an eight-year-old lawsuit brought by the New York attorney general's office. Greenberg in July ...
Canada’s Intact Financial Announces $270M Third-Quarter Catastrophe Loss Estimate
Intact Financial Corp on Monday announced estimated third-quarter catastrophe losses, net of reinsurance, of $270 million pretax ($199 million after tax or $1.51 per share). In aggregate, 10 events ...
Merchants’ ‘A-‘ Rating Gets Negative Outlook Attached by A.M. Best
On Tuesday, A.M. Best Co. said that while the rating agency has affirmed the "A-" financial strength rating of Merchants Mutual Insurance Company and its subsidiaries, it has also revised the outlook ...
Aspen Re Appoints Lewis as London Head of Casualty Re
Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Ltd, announced the appointment of Jamie Lewis as head of its casualty reinsurance business in London on Tuesday. Lewis will be ...