Portugal’s Espirito Santo Financial Group S.A. (ESFG) and France’s Credit Agricole S.A. (CASA) announced that they have agreed that CASA will acquire 50 percent of the capital and have management control of the life and non-life bancassurance subsidiaries of ESFG …
Allianz Insurance Company of Canada and The Nordic Insurance Company of Canada, both insurance subsidiaries of ING Canada Inc., announced their intention to amalgamate under the name of The Nordic Insurance Company of Canada. The transaction is subject to regulatory …
Fitch Ratings has upgraded the insurer financial strength ratings of the Encompass companies to ‘AA+’ from ‘A-‘. The Rating Outlook is Stable. The upgrade reflects Allstate’s acquisition of the Encompass companies from CNA Financial Corp. Allstate had been servicing and …
Producers should no longer expect contingent commissions from American International Group, according to the settlement with New York Attorney General Spitzer and what the company says is its own global policy now. Spitzer’s announcement stated that “AIG has agreed to …
Although no standard such as ISO exists for the yacht insurance industry assuring consistency from carrier to carrier, most policies offered by domestic carriers have become fairly consistent in their coverage offering. Common coverage such as hull, protection and indemnity, …
California’s Conservation and Liquidation Office (CLO) will distribute $530 million to policyholders and claimants from the liquidated estate of the Mission Insurance Companies, California Insurance Commissioner John Garamendi announced. The latest amount brings the total amount distributed since 2003 to …
The reasons people become collector boat owners are as varied as the owners themselves. Is it for the love of the vessel itself, bragging rights as a participant in an expensive hobby or simply to net a little cash in …
Contrary to popular belief, today’s workers are safer on the job than they are at home or in their communities. According to the National Safety Council, recent gains in lowering workplace death rates, which are down 17 percent since 1992, …
Most failed company mergers remain a secret, except to a handful of insiders.That was not the case with the collapsed attempt by Zurich Financial Services Group to sell its affiliate, Universal Underwriters Insurance Company. This failure was no secret because …
California’s Conservation and Liquidation Office (CLO) will distribute $530 million to policyholders and claimants from the liquidated estate of the Mission Insurance Companies, California Insurance Commissioner John Garamendi announced. The latest amount brings the total amount distributed since 2003 to …
