Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Munich American Re To Acquire CNA Life Re
Oct 9 2000 // Munich American Re (MARC), the U.S. subsidiary of Munich Re, announced plans to acquire by retrocession the reinsurance life business of Chicago based CNA Financial Corp., CNA Life Re and Agora Re.com for an undisclosed...
SENATE GRANTS CHINA PNTR STATUS
Oct 9 2000 // The U.S. Senate passed a bill granting China permanent normal trading relations (PNTR), thus clearing one of the final obstacles to the entry of the world’s most populous nation into the World Trade Organization...
Alliance Study Shows Industry Contributes $200 Billion to U.S. Economy
Oct 6 2000 // The insurance industry contributes almost $200 billion to the United States’ gross national product each year, approximately 2.4 percent of the total GNP, according to the latest edition of a study compiled by the...
CGNU Reported Looking For U.S. Fund Manager
Oct 4 2000 // London’s Financial Times (FT) reports that U.K. insurer CGNU, which recently announced the sale of its U.S. p/c business to White Mountains Insurance Group, has retained the services of investment bankers as it...
First Concorde Lawsuit Filed in U.S.
Oct 2 2000 // Lawyers for the family of one of the German victims of the Concorde crash outside Paris on July 25th have filed a lawsuit in Federal District Court in Miami Florida seeking damages from Air France and other companies...
Calif. Sits on Epicenter of National Quake Survey
Oct 2 2000 // According to the first national survey of earthquake risks, 75 percent of all losses are expected to occur in California. But quakes are not a problem for just the Golden State, as the study shows that other areas of the...
Zurich U.S. Expands Presence in Southwest, Appoints Four New Execs
Sep 28 2000 // Zurich U.S., headquartered in Schaumburg, Ill., has appointed four new executives in an effort to better manage the company’s rapidly growing presence in the southwestern United States. Mark Wall is the senior...
Concorde Crash Lawyers Near Filing Lawsuits in U.S.
Sep 27 2000 // The two German lawyers representing the families of victims of the Concorde air disaster are reportedly close to filing compensation claims in the U.S. While settlement talks with Air France are continuing, the differences...
White Mountains to Buy CGNU U.S. Unit
Sep 25 2000 // White Mountains Insurance Group has agreed to buy the U.S. property casualty operations of British insurer CGNU Group for $2.1 billion. The Hanover, N.H-based insurer is also expected to pay $500 million in debt owed by...
Senate Approves PNTR Deal With China
Sep 20 2000 // As expected the U.S. Senate passed the bill granting China permanent normal trading relations (PNTR), thus clearing one of the final obstacles to the entry of the world’s most populous nation into the World Trade...
Allianz Capital Sales Boost 1st Half Profits – Targets U.S. Fund Manager
Sep 14 2000 // Allianz AG posted a 30 percent rise in 1st half profits to €1.6 billion ($1.38 billion) from €1.2 billion ($1.03 billion) last year. The gains, which exceeded analysts expectations, were due primarily to the disposals...
Chase to Buy J.P. Morgan for $33 Billion
Sep 13 2000 // Chase Manhattan Corp. plans to buy commercial and investment bank J.P. Morgan & Co. Inc. for $33.2 billion in stock. The merged bank will be called J.P. Morgan Chase & Co., and will combine two of the...
San Jose Couple Accused of Fraud Back in U.S.
Sep 13 2000 // After fleeing to the Caribbean eight months ago to avoid charges that they stole $10 million from insurance clients, a San Jose, Calif. couple appeared in court Tuesday for the first time and were ordered held on $10...
Equitas Head Warns on Asbestos Claims
Sep 12 2000 // Hugh Stevenson, Chairman of Equitas, the vehicle set up by Lloyd’s in 1996 to runoff liabilities, principally asbestos and industrial pollution claims for years prior to 1993, issued a warning at the annual meeting...
HRH Acquires Conn.-Based Thomas M. Murphy & Associates
Sep 8 2000 // Hilb, Rogal and Hamilton Company announced that it has acquired substantially all of the operating assets of Thomas M. Murphy & Associates (“TMM&A”), an insurance agency in Shelton,...
Karl Joins Swiss Re as Head of Economic Research, Consulting for North America
Sep 6 2000 // Dr. Kurt E. Karl has joined Swiss Re as head of the company’s Economic Research and Consulting in New York. Prior to joining Swiss Re, Karl was chief international economist at WEFA, Inc., an economic forecasting...
Lime Street Meets Silicon Valley; New Initiatives Transform Lloyd’s
Sep 4 2000 // Lloyd’s is adapting to modern business methods and upgrading its business systems so rapidly that it promises to meet, if not surpass, the vision that Chairman Max Taylor first set out in “Priorities for...
CIBC Completes Sale of its P/C Business
Aug 31 2000 // CIBC completed the sale of its property and casualty insurance companies–The Personal Insurance Company of Canada and CIBC General Insurance Company Limited–to Desjardins- Laurentian Financial Corporation...
Royal & Sun Seeks NYSE Listing
Aug 14 2000 // According to reports in Britain’s Sunday Times, the U.K.’s fifth largest insurer, Royal & Sun Alliance (RSA), hopes to list its shares on the New York Stock Exchange as soon as this fall, and is engaged in...
Roundabouts: A Way Around Costly Accidents’
Aug 14 2000 // The Insurance Industry’s Increased Interest in Auto Safety Has Produced Research that Provides Compelling Reasons to Send Our Traffic in Circles Each year in the United States more than 800 people die and an...
