Ambac Wins Court Approval to Overhaul Insurance Unit February 2, 2011 By Tom Hals Ambac Financial Group won a court ruling allowing it to overhaul its insurance unit, a decision that its bankrupt parent...
Lloyd’s of London Names Smith Southeast Director February 2, 2011 Lloyd’s of London has appointed Rodney Smith to serve as the regional director for Lloyd’s newly established Southeast region. Smith...
91,000 Gulf Oil Spill Claimants, BP Partner Gets Only Final Payment February 2, 2011 By Brian Skoloff BP’s compensation fund for Gulf oil spill victims has issued a final settlement payment to just one of the thousands...
Ratings Roundup: Assurant, Brickstreet February 2, 2011 Standard & Poor’s Ratings Services announced that its ratings on Assurant Inc. (BBB/Stable/A-2) and its related companies were unaffected by...
Mississippi AG Asks Court to Intervene in BP Oil Spill Claims Fund February 2, 2011 By Leigh Coleman U.S. courts must compel the administrator of BP’s $20 billion oil spill fund to meet his legal obligations and stop...
Best Withdraws Ratings of Various QBE U.S. Subsidiaries Following Reorganization February 2, 2011 A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+”...
New York Court Dismisses Bond Insurer MBIA’s Suit Against Merrill February 2, 2011 By Jonathan Stempel A New York state appeals court Tuesday dismissed a lawsuit in which bond insurer MBIA Inc. accused Merrill Lynch &...
La Nina Helps Fuel Monster Australian Cyclone Yasi February 2, 2011 By David Fogarty Record ocean temperatures and an intense La Nina weather pattern have helped spawn one of the most powerful cyclones in...
Cooper Gay Launches European Markets Integrated Trading Unit February 2, 2011 London-based Cooper Gay, an independent global wholesale, reinsurance and specialist retail insurance broker, has launched Cooper Gay European Markets, which...
Willis Names Parker to Lead Global Service Centers in Ipswich and Mumbai February 2, 2011 Willis Group Holdings announced the appointment of Mark Parker as leader of the Group’s Global Service Centers in Ipswich and...