Tony Stevens has been named branch manager of the Tampa, Fla. office of ACE USA of Philadelphia, Pa., the U.S.-based operating division of the ACE Group of Companies. In this newly-created position, Stevens will work closely with insurance brokers and …
Reference to the National Catastrophe Insurance Plan is prominently absent from the National Association of Insurance Commissioner’s agenda as NAIC kicks off its March 4-7 Spring National Meetings in Orlando, Fla. Among the items on the NAIC agenda are, adding …
Standard & Poor’s Ratings Services announced that it has assigned its “A” long-term counterparty credit and insurer financial strength ratings to U.K.-based NIPPONKOA Insurance Co. (Europe) Ltd. (NKE), the wholly owned subsidiary of Japan’s NIPPONKOA Insurance Co. Ltd. (rated “A+”/stable) …
Xinhua Finance Limited, China’s foremost financial information and media provider, announced that it has signed an agreement to acquire Beijing Alpha Financial Engineering Company, one of the country’s leading developers of financial engineering and risk management systems. “This acquisition is …
Dublin-based Research and Markets has announced the addition of “Historical Loss Development Study – 2005” to their offering. The bulletin notes that the study “has been produced since 1969 to reinforce awareness of historical loss development patterns in companies writing …
A.M. Best Co. has issued a bulletin, indicating that its ratings on the “Swiss Re Group and its rated entities remain under review with negative implications,” following the publication of the Group’s 2005 earnings results (See IJ Website March 1). …
Ohio-based Bancinsurance Corporation, a specialty property and casualty insurance holding company, released its financial results for the three and twelve months ended December 31, 2005. Highlights for the 2005 fiscal year include the following: – Record net income of $6.3 …
Rep. Bobby Jindal (R-La.) will speak at a luncheon held by the Independent Insurance Agents & Brokers of America (the Big “I”) during its National Legislative Conference & Convention in April. Rep. Jindal, president of the House’s freshman class, will …
DENSO Corporation said it will establish a wholly owned captive insurance company — DENSO Reinsurance America Inc. — for its group companies in March. The initial capital investment for the company will be US$3 million, and the company will be …
Hilb Rogal & Hobbs Company has acquired the operating assets of The Welch Company, an employee benefits firm in Houston, Texas. Terms of the transaction were not disclosed. With 2005 revenues of approximately $900,000, The Welch Company provides employee benefits …
