Illinois residents and businesses in the St. Louis metropolitan area will not yet be forced to pay more for flood insurance than counterparts on the Missouri side of the Mississippi River, the Federal Emergency Management Agency decided. FEMA’s decision means …
Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg intends to sell some AIG stock, according to a regulatory filing Thursday. Greenberg, who ran AIG for nearly four decades, said he will sell stock in the open market, …
A lawsuit brought by a Wisconsin couple who accused a bank of deceptive lending practices and wanted to cancel their home loan has been stripped of class-action status in a victory for U.S. banks. In a 2-to-1 decision, a panel …
U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations over the White House’s unprecedented bailout …
Conservative Republicans in the U.S. House have offered an alternative to a $700 billion government bailout of Wall Street that they say would rely on private capital markets, rather than taxpayers, to free up frozen credit markets. Other lawmakers have …
FPIC Insurance Group Inc., based in Jacksonville, Florida, together with its consolidated subsidiaries, released information regarding certain investments in financial service companies reportedly experiencing credit-related issues. FPIC selected investment holdings as of Sept. 25, based on amortized cost data as …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb” of Germany’s SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG (Sovag) with a stable outlook. “The affirmation reflects Sovag’s excellent risk-adjusted capitalization, good …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed the debt ratings of “a+” on £300 million ($551 million) …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based Catlin Insurance Company Limited (CICL), as well as Catlin Insurance Company (UK) Ltd. Catlin Insurance Company, Inc. (CICI) and …
The New York-based Navigators Group announced the hiring of Paul Hennessy as President, Navigators Holdings (UK), Ltd. He will be responsible for Navigators’ operations in Europe, the Middle East and Asia, and will report to Company President and CEO Stan …
