International News

Best Affirms Montpelier Re Holdings and Company Ratings

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Montpelier Reinsurance Ltd. (Montpelier Re) as well as the ICR of “bbb” and debt ratings of the parent company, Montpelier Re …

Elia Joins Argo Group as Chief Human Resources Officer

The Bermuda-based Argo Group International Holdings, Ltd. announced that Kurt Elia has joined the company as Senior Vice President and Chief Human Resources Officer. He Elia will report to Argo Group President and CEO Mark E. Watson III. “Attracting, developing …

Kerr to Head New Allied World Canada Branch Office

Allied World Assurance Company Holdings, AG announced the opening of a branch office in Toronto, Ontario to further expand its North American insurance operations. Allied World appointed Gord Kerr as Senior Vice President, Chief Agent & Branch Manager for the …

3rd IPCC Report: Greenhouse Gas Emissions Accelerate Despite Reduction Efforts

The latest in a series of reports from the Intergovernmental Panel on Climate Change (IPCC) unfortunately confirms that “global emissions of greenhouse gases have risen to unprecedented levels despite a growing number of policies to reduce climate change. Emissions grew …

South Korea Says 293 Missing After Ferry Sinks En Route to Jeju Island

South Korea’s government said 293 people remain missing after a ferry carrying hundreds of high school students sank en route to the resort island of Jeju. At least two people, including a student, died in the accident. A total of …

RSA U.K. Chief Brown to Leave in First Resignation under Hester

RSA Insurance Group Plc said the head of its U.K. and Western Europe business will leave the company, marking the first resignation of a senior manager since Stephen Hester was hired to revamp the British insurer. Adrian Brown, a 25-year …

Ratings Recap: Samsung Europe, Transmonde, MAPFRE PRAICO, Ocaso

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of UK-based Samsung Fire & Marine Insurance Company of Europe, Limited (SFME), both with stable outlooks. Best said SFME’s ratings “reflect its …

London-Based MGA Nexus Forms New Specialist Product Line

The London-based Nexus Group, a Managing General Agency (MGA) announced the formation of a new specialist product line covering a wide range of accident, sickness and travel insurance, written on a direct and facultative basis, up to an Event Aggregate …

Best Upgrades Ratings for Most ACE Limited Subsidiaries; Outlooks Stable

A.M. Best has upgraded the financial strength rating (FSR) to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “aa+” from “aa” of the North American property/casualty subsidiaries of ACE Limited, which is based in Zurich, Switzerland, …

AIR Worldwide Appoints Guin Executive VP to Direct Research Program

Catastrophe modeling firm AIR Worldwide announced that Dr. Jayanta Guin has been appointed executive vice president. He “will continue to direct AIR’s innovative research program as well as assist with strategic management of AIR’s overall business strategy and new initiatives,” …

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