Japan plans to propose cutting world greenhouse gas emissions in half by 2050 in a bid to limit the effects of global warming, news reports said Thursday [May 24]. Prime Minister Shinzo Abe was to announce the plan later in …
Guy Carpenter & Company, LLC, the global risk and reinsurance specialist of the Marsh & McLennan Companies has published a report on the “Recent Legislative and Judicial Trends in Continental Europe Affecting the Casualty Insurance Industry.” The report was authored …
Cayman Islands-based reinsurer Greenlight Capital Re, Ltd. officially launched its initial public offering of 10,250,000 Class A Ordinary Shares priced at $19.00 per share. Substantially all of the net proceeds of the IPO will be used to “increase the underwriting …
Standard & Poor’s Ratings Services has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Salama/Islamic Arab Insurance Co. (P.S.C.) (Salama/IAIC), located in Dubai, United Arab Emirates. S&P also raised the long-term counterparty credit and insurer financial …
Standard & Poor’s Ratings Services has published an article titled, “New Risk-Based Insurance Capital Model,” which details revisions it has made in its risk-based capital adequacy model. S&P described the model as “an integral and quantitative tool in analyzing the …
The Bermuda-based PXRE Group Ltd. has scheduled a special meeting of shareholders “to consider and vote on the issuance of common shares of PXRE and the other transactions contemplated by the previously announced agreement and plan of Merger by and …
The UK’s Royal & Sun Alliance Insurance Group plc, through its wholly-owned subsidiary RSA Overseas Holdings B.V., announced an all cash tender offer for all for the outstanding shares in Denmark’s Codan A/S that it does not currently own – …
United States Senators John Sununu, R-NH, and Tim Johnson, D-SD, reintroduced “The National Insurance Act of 2007,” legislation that aims to modernize insurance industry regulation by providing an optional federal charter (OFC) for insurers. Under the legislation (SB 40), insurers …
A Superior Court jury awarded $5.7 million in damages to a bedridden man who claimed a doctor failed to diagnose his skin cancer. The verdict is the largest medical-malpractice award in California this year, but will be cut to $1.9 …
Robert De Niro has asked a court to dismiss a lawsuit brought against him by Fireman’s Fund Insurance Co. The 63-year-old Oscar winner filed a motion in U. S. District Court seeking the dismissal of the insurance company’s complaint, calling …
