Yearly Archives: <span>2006</span>

ING Canada Acquires Largest Member in Grey Power Network

ING Canada announced the acquisition of Grey Power Insurance Brokers Inc. (GPIBI) of Stouffville, Ontario. GPIBI is the largest member in the Grey Power network, accounting for about 50 per cent of its business volume. The Grey Power network is …

Lloyd’s Looks at Covering Virgin Galactic Space Flight

For centuries mankind dreamed of being able to fly. The Wright brothers may not have envisioned jet aircraft, let alone cattle car class, but they did initiate powered flight over 100 years ago. So with that mission accomplished, people now …

Rating Agencies React to Fairfax 10-K Filing; Part 3 – Off S&P Credit/Watch

The rating agencies have taken different actions on Fairfax Financial Holdings and its subsidiaries, including Odyssey Re Holdings in which Fairfax has an 80 percent stake, following the Group’s filing of its Form 10-K financial statements on Friday March 31. …

Rating Agencies React to Fairfax 10-K Filing; Part 2 – Fitch Maintains Credit Watch on Group

The rating agencies have taken different actions on Fairfax Financial Holdings and its subsidiaries, including Odyssey Re Holdings in which Fairfax has an 80 percent stake, following the Group’s filing of its Form 10-K financial statements on Friday March 31. …

Rating Agencies React to Fairfax 10-K Filing; Part 1 – A.M. Best Affirms Ratings; Off Watch

The rating agencies have taken different actions on Fairfax Financial Holdings and its subsidiaries, including Odyssey Re Holdings in which Fairfax has an 80 percent stake, following the Group’s filing of its Form 10-K financial statements on Friday March 31. …

Best Rates Omega Specialty ‘A-‘

A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to Omega Specialty Insurance Company Limited (OSIL), a newly formed Bermudan insurer. Best also assigned an ICR …

Burton Named as Integro’s Compliance Officer for London Office

Integro Insurance Brokers, Ltd., The U.K.-based subsidiary of global broker Integro, announced that Peter Burton has accepted the position of Compliance Officer in London. Burton has 32 years of experience in the Lloyd’s of London and United Kingdom insurance market. …

JLT Expands Lloyd’s Security/Privacy; Adds U.S. E&O Tech Coverage

JLT Risk Solutions Ltd;, part of London-based global broker Jardine Lloyd Thompson Group plc, announced a significantly expanded insurance program within the Lloyd’s of London market “to provide security and privacy liability protection for two of the most heavily regulated …

Best Affirms Saipan’s Century Insurance ‘B+’ Rating

A.M. Best Co. announced that it has affirmed the financial strength rating of “B+” (Very Good) and assigned an issuer credit rating (ICR) of “bbb-” to Saipan’s Century Insurance Company, Ltd. (CIC) with a stable outlook. “The ratings reflect CIC’s …

EQECAT Warns on Increased Cat Risks, Models Need Updates

Rick Clinton, president of Oakland, Calif.-based EQECAT, Inc., a subsidiary of ABS Consulting, issued a stark warning to insurers, reinsurers, corporations, and government entities, urging them to be prepared for more frequent and severe hurricanes in the Atlantic Ocean, Caribbean …