Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be taken in two parts: TMKI’s …
The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the …
Dallas, TX, June 25, 2019 – Genesis Resources, an executive search firm specialized in the insurance industry, is excited to announce and welcome Andrew Cahn. Andrew has over 25 years of experience in underwriting and finance and joins us from …
Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV …
An Oklahoma judge has approved a revised $85 million settlement with Teva Pharmaceutical Industries Ltd. resolving claims by the state’s attorney general that the drugmaker helped fuel the U.S. opioid epidemic. The decision by Cleveland County District Judge Thad Balkman …
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Federated Rural Electric Insurance Exchange (Federated Rural) in Lenexa, Kansas. The outlook for the …
Federal officials say a Chicago-based cargo handling company will pay $135,000 to settle a sexual harassment and retaliation lawsuit. Alliance Ground International, a cargo handling company that performs cargo, mail and ramp handling services for multiple clients at several major …
Oklahoma Gov. Kevin Stitt says six more counties in the state have been approved for disaster assistance by the Federal Emergency Management Agency. Stitt announced on June 20 that individuals and business owners affected by severe storms since May 7 …
A floodgate in Mississippi has reopened as the Mississippi River falls, allowing a months-long flood in parts of the Mississippi Delta to begin draining. The U.S. Army Corps of Engineers says it opened the Steele Bayou floodgate north of Vicksburg …
Ironshore Environmental has streamlined its Contractors Environmental Legal Liability (CELL) policy to be underwritten by broker partners through its online Quote & Bind Portal. The Ironshore CELL product responds to third party bodily injury, property damage and remediation of environmental …
