After a three-week trial, a St. Clair County, Ill. Circuit Court jury returned a complete defense verdict last Thursday, April 29 for Allstate Insurance Company in a 30-state class action involving diminished value claims in auto insurance. The plaintiffs in …
ACE USA, the U.S.-based retail operating division of the Bermuda-based ACE Group of Companies, announced the creation of the ACE USA Healthcare Practice. The company described the coverage as a specialized practice that will bring together “subject matter experts who …
A.M. Best Co. announced the availability of “Best’s Statement File Supplement for Schedule F and Schedule S” on a single CD-ROM that contains both databases. “These databases include reinsurance data from the financial statements of thousands of property/casualty and life/health …
Swiss Re announced that it has completed its previously announced Admin Re acquisition of CNA Financial Corp.’s individual life insurance business for approximately $700 million. “The in force business, which will be put into run-off, includes term, universal and permanent …
Bermuda- based Allied World Assurance Holdings (AWAC) reported net income of $89.4 million for the first quarter 2004, compared to $55.8 million for the first quarter of 2003. Highlights of the company’s report included the following: — Gross premiums written …
XL Capital Ltd. announced that James McNichols, former Executive VP and COO of XL’s financial guarantee reinsurance subsidiary, XL Financial Assurance Ltd., has been appointed Global Chief Actuary. He replaces Tom Weidman who has assumed the position of Executive Vice …
XL Capital Ltd. announced that Nicholas J. Metcalf, Chief Executive Officer of the Company’s Lloyd’s operation, XL London Market Ltd., has decided to leave the Company to pursue other business interests. Clive R. Tobin, Chief Executive of Insurance Operations for …
Bermuda-based Arch Capital Group Ltd. announced the pricing of the public offering of $300,000,000 principal amount of 7.35% Senior Notes due 2034. The company said the notes would “initially be offered by the underwriters at a price of 99.689% of …
Bermuda’s Max Re Capital Ltd. announced the election of Mr. W. Marston Becker to the Company’s Board of Directors. He has served as Chairman of the Board and CEO of Trenwick Group, Ltd., a Bermuda insurance company, since August 2002. …
The Independent Insurance Agents & Brokers of America’s Board of State Directors has nominated William G. Stiglitz III as the association’s president-elect and has elected Alex Soto, CPCU, ARM, as the association’s next vice president. Stiglitz will assume his new …
