United States of America (USA)
Entertainment brokers seeks to double size after US tie-up
Stockport-based Doodson Broking Group has signalled its intent to double in size over the next five years after forming a partnership with US broker Crossfields Insurance.
20 years ago: Crisis as Wallbrook is suspended
The London insurance market is facing a new crisis following the secretary of state for trade and industry Nicholas Ridley's decision to bar Wallbrook Insurance from underwriting new business, notably US excess liability risks, due to insufficient…
AJG boss hails underwriting potential after First City buy
OIM Underwriting will distribute its products through SME specialist Circadian as part of Arthur J Gallagher's acquisition of London broker First City.
Zurich names CEO's successor
Zurich Financial Services has appointed Cecilia Reyes as chief investment officer and member of the group executive committee, effective 1 April 2010, reporting directly to chief executive officer Martin Senn.
Zurich names CEO's successor
Zurich Financial Services has appointed Cecilia Reyes as chief investment officer and member of the group executive committee, effective 1 April 2010, reporting directly to chief executive officer Martin Senn.
Gallagher set for First City purchase
The UK arm of US broking giant Arthur J Gallagher is set to acquire the insurance broking business of First City.
Axa fined $1.9m by NY State Insurance Department
New York State Insurance Superintendent James J Wrynn has announced that Axa Equitable Life Insurance Company has paid a $1.9m fine for violations including making inaccurate or incomplete disclosures to consumers buying replacement annuity contracts and…
Axa fined $1.9m by NY State Insurance Department
New York State Insurance Superintendent James J Wrynn has announced that Axa Equitable Life Insurance Company has paid a $1.9m fine for violations including making inaccurate or incomplete disclosures to consumers buying replacement annuity contracts and…
Democrats win second Senate healthcare vote
US Democrats have won the latest vote in the US Senate on US health reform.
Zurich to restate results after changing US accounting
Zurich has decided to implement a hedging strategy which it claims will better manage its economic exposure and reduce the volatility associated with its closed block of variable annuities products within its US life business.
Marsh will not accept contingent commissions in US
Marsh & McLennan’s US and Canada unit will not collect controversial contingent commissions in its core broking operations.
Florida jury awards $26.6m to smoker's widow
A Florida jury has ordered cigarette manufacturers RJ Reynolds and Philip Morris to pay $26.6m to the widow of a longtime smoker who died of lung cancer, the latest verdict in the Engle progeny lawsuits.
Willis appoints head of North American financial services practice
Richard Magrann-Wells appointer senior VP and leader of North American financial services practice.
Greenberg: US businesses China ties at risk
The former AIG head Hank Greenberg has said the row between the US and China over the yuan could threaten US businesses in the region.
US class-action securities lawsuits rose 39% in 2009
Settlements rose 39% in 2009, according to a study by Stanford Law School and Cornerstone Research, less than feared by many US D&O insurers.
Odyssey Re gains admitted status in Brazil
Odyssey Re, the US (re)insurer, has said that it has been approved to conduct business as an admitted reinsurer in Brazil.
US Senate passes health reform bill
Final bill does not allow premiums to be capped as feared by US health insurers leading to stock price rises.
Bermuda Insurance Exchange under discussion
Plans to create a Bermuda Insurance Exchange have been put to Government, Flagstone Re chairman Mark Byrne has revealed at a Reinsurance Magazine event on the island.
‘Troubling’ bailouts punish best companies - Chubb
Chubb CEO John Finnegan, said government bailouts punish the best-run companies and impede the functioning of markets.
Pexton named as new Omega CEO
Omega has named former chief executive of Heritage Underwriting Agency Richard Pexton as its new CEO. Mr Pexton, who also joins the Omega board, replaces Richard Tolliday (pictured).
Ace outlines $125m cat losses from first quarter
Ace has announced its estimated net after-tax losses in the first quarter from natural catastrophes will be approximately $125m, including reinstatement premiums.
Transatlantic announces senior promotions
Executive promotions announced in Paris, London and the US.
London loses insurance crown to Hong Kong
A report placing Hong Kong above London as the world's leading insurance centre has caused consternation among Lloyd's and London market underwriters.
Extending the definition of "too big to fail" could have severe consequences
The definition, which is currently being discussed in the US senate, could have severe consequences for the insurance industry according to Scott Harringdon, professor at the Wharton School.