Regulation & Compliance
AIG Extends Tax Asset Protection Plan by 3 Years
American International Group Inc. extended by almost three years a plan designed to protect the value of deferred tax assets that limit payments to the government that bailed out the insurer. The ...
China Requiring New Disclosures by Systemically Important Banks
China's bank regulator will require the country's largest lenders to disclose their off-balance-sheet exposures and other indicators in a move to implement global rules designed to strengthen ...
Mexico to Mandate Auto Coverage in Push Toward ‘Culture of Insurance’
President Enrique Pena Nieto is giving the car insurance market a boost with a plan to mandate policies on federal highways in Mexico, where almost three in four drivers lack coverage. Congress ...
Fitch Changes Tower Group’s Rating Watch Status from Negative to Evolving
On Monday, Fitch Ratings revised the Rating Watch status of Tower Group International, Ltd. to Rating Watch Evolving from Rating Watch Negative following Tower's announcement of a planned merger with ...
Regulation-Fueled ‘Collateral Crunch’ Not Expected in 2014
If pension funds, insurers and sovereign wealth funds were hoping to cash in on lending "high-quality" assets to those scrambling to meet tougher collateral requirements in 2014, they are likely to ...
Fitch Drops Tower Group Rating Another Notch to ‘B’ as RBC Ratios Fall
Fitch Ratings announced Thursday that it downgraded the insurer financial strength ratings of the operating subsidiaries of Tower Group International, Ltd.'s to "B" from "BB." In October 2013, ...
Bermuda Monetary Authority Appoints Gibbs as Director, Supervision (Insurance)
The Bermuda Monetary Authority announced the appointment of Andrew Gibbs to the position of Director, Supervision (Insurance) on Thursday. Reporting to Craig Swan, Managing Director, Supervision, ...
Fastest Growing E&S Carriers in Top 30 Revealed: Fitch Report
In a year-end report on the U.S. excess and surplus lines market, data compiled by Fitch Ratings revealed that the top growing E&S writers in recent years were not necessarily the biggest. The ...