Bermuda-based Allied World Assurance Holdings, Ltd. said it expects net losses arising from Hurricane Katrina to be in the $200 to $250 million range. “Our preliminary estimate is based on a combination of factors, including an extensive review of our …
Standard & Poor’s Rating Services announced that it has assigned its “BBB+” counterparty credit rating to IPC Holdings Ltd. and placed the rating on CreditWatch with negative implications. The action, S&P said in a later clarification, affects only IPC Holdings. …
Bermuda-based Aspen Insurance Holdings Limited announced that it has closed the public offering of 17,551,558 ordinary shares at a price of $23.00 per share, raising aggregate net proceeds of approximately $400 million. Aspen said it “expects to use the aggregate …
Bermuda’s Max Re Capital Ltd. announced that it has entered into an will sell 11,000,000 of its common shares in an underwritten public offering at a price of $23.50 per share. The company announced the offering yesterday (See IJ Website …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Sweden-based If P&C Insurance Ltd. (publ) and Finland-based If P&C Insurance Co. Ltd., the core operating entities of the If …
Authorities are taking aim at ‘swoop and squat’ accident scams They call it the “swoop and squat’.’ A driver pulls in front of another vehicle and slams on the brakes, deliberately causing an accident to collect the insurance money. Authorities …
House Speaker Salvatore DiMasi vowed to deliver a bill dramatically expanding health care coverage to the uninsured in Massachusetts but shied away from offering specifics. DiMasi said the bill, which he promised to place on Gov. Mitt Romney’s desk in …
The Internal Revenue Service is advising taxpayers who suffered casualty or theft losses as a result of Hurricane Katrina about a recent change to the tax law. A new provision lifts certain loss limitations for Hurricane Katrina victims. Ordinarily, to …
New Hampshire independent insurance agent Tom Minkler got his first call Sunday morning at 5 a.m. Since then, the phones haven’t stopped ringing. Minkler isn’t bothered by the calls. What bothers him is having to tell so many of his …
Ohio-based State Auto Financial Corporation estimates that catastrophic storms during the third quarter of 2005 will produce between $42 and $46 million in pre-tax losses for STFC. This is expected to add between 15 and 17 loss ratio points to …
