The number of safety violations at U.S. nuclear power plants varies dramatically from region to region, pointing to inconsistent enforcement in an industry now operating mostly beyond its original 40-year licenses, according to a congressional study awaiting release. Nuclear Regulatory …
Florida is ending this year’s storm season with some good news. The state-created fund that backs up private insurers in Florida remains in the best financial shape it has been since it was created 20 years ago. New estimates drawn …
U.S. regulators sought to overturn a 2012 court ruling that prohibited victims of Allen Stanford’s $7 billion Ponzi scheme from seeking compensation, in an unprecedented legal battle between the government and an industry-backed fund that protects investors. In oral arguments …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of the insurance subsidiaries of UK-based AVIVA plc and the ICR of “a-” of AVIVA and …
BrokersLink, one of the world’s largest independent insurance broker networks, announced that it is “changing its constitution from a not-for-profit association to a for-profit global broking company to accelerate growth and invest in enhanced association support capabilities.” The change was …
Aon Benfield’s Analytics’ Market Analysis team has updated its report on Lloyd’s to reflect the latest financial figures for the first half of 2013 and business position going into 2014. Key figures in the report include the following: — Lloyd’s …
Spain’s MAPFRE announced that it has acquired a 20 percent stake in the Indonesian insurance company Asuransi Bina Dana Arta (ABDA), and “has established a partnership in which MAPFRE becomes the industrial insurance partner that will provide the necessary expertise …
Allianz SE’s CEO Michael Diekmann said tougher financial regulation will create takeover opportunities for Europe’s biggest insurer. “If Solvency II and Basel III mean more capital, then it’s hard for mutuals to get that,” Diekmann, 58, said in an interview …
Edgewood Partners Insurance Center LLP is working with Bank of America Corp. to solicit offers, according to the people familiar with the matter, who asked not to be named because the process is private. The San Mateo, Calif.-based broker, which …
Federal Reserve Chairman Ben Bernanke does not have to testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc. against the United States over the insurer’s 2008 bailout, a federal appeals court said on Wednesday. The …
