Aon Benfield has launched the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial position of the world’s leading reinsurers at the end of the first quarter. The report, compiled by Aon Benfield Analytics, estimates that …
Catlin Re Switzerland, the continental European reinsurer of the Bermuda-based Catlin Group Limited, announced that as of July 1, 2011, it will underwrite treaty reinsurance business from a new office in Madrid, focusing on property, casualty and specialty classes of …
Willis North America has named John A. Connolly as practice leader for its Executive Risks unit. Connolly will be responsible for leading the practice and driving business development in North America. Philadelphia-based Connolly joined Willis in 2007, and has 25 …
Allstate Corp., the largest publicly traded U.S. home and auto insurer, said it lost $2 billion in April and May from severe tornadoes and thunderstorms, nearly equaling its catastrophe losses for all of 2010. The devastating two-month period, taken as …
The overall U.S. insurance industry reserve redundancy is $22.0 billion versus $21.9 billion at year-end 2009, after the industry released $10.5 billion of reserves during 2010, a new study of year-end 2010 data shows. The study by global reinsurance intermediary …
Legislation has been introduced in the U.S. House of Representatives to adjust the tax code for about 600 small property/casualty insurance companies. The change will increase access to insurance for rural communities and foster economic growth, according to the National …
In a move that business groups say could change the risk management operations of many corporations, Tennessee Governor Bill Haslam signed into law a bill allowing for the creation of captive insurers. Backed by Tennessee Insurance Commissioner Julie McPeak, the …
Dennis J. Hayes has been appointed chief executive deputy director of the New York State Insurance Fund (NYSIF). Hayes has 29 years experience as an attorney specializing in insurance, reinsurance and receivership matters. He has been a senior executive at …
Work crews in Providence are scheduled to finish pickup of storm debris at the end of this week. The city announced on Monday that June 18 will be the last day for storm debris pickup. The city says it will …
About a dozen school buses are damaged or destroyed after a fire tore through the garage holding a northwestern Pennsylvania district’s vehicles. A state police fire marshal is investigating the cause of the blaze that broke out Monday afternoon in …
