The current spell of freezing weather throughout the UK threatens to be quite costly. The Association of British Insurers (ABI) warns that damages from burst pipes and leaking water could top “£7 million [app. $11 million] every day this winter.” …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Iowa-based Aviva Life and Annuity Company (ALAC) and its wholly owned subsidiary, Aviva Life and Annuity Company of New …
ReSource Intermediaries Inc. has acquired San Francisco-based Reinsurance Advisory Services Inc. (RAS). Financial details of the transaction were not disclosed. RAS, a risk advisor and reinsurance intermediary focused on health care, launched in 2003 by founder Peter Robinson. Robinson will …
A construction boom has been under way at grain elevators across the Great Plains, where farmers have grown more corn and opted to keep more of the grain to meet the demand from ethanol plants. Storage capacity at the nation’s …
Dutch insurer Aegon NV will cut up to 500 jobs in the United States and discontinue sales of certain types of life insurance policies, it said on Wednesday, leading to $290 million in restructuring charges and write-downs. Aegon said the …
Zurich Financial Services Group announced today that its subsidiary, Zurich Insurance Company Ltd, has completed the acquisition of 99.99 percent of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese insurer with branch operations in the United Arab Emirates, Kuwait and …
Great Northern Insurance is suing electronics firm Apple, claiming that a faulty laptop charger for one of its computers triggered a massive house fire in Central Connecticut. The lawsuit, filed in federal court in Hartford last month, stems from a …
AIG may be getting healthier, but it hasn’t fully recovered. When AIG sold $2 billion of debt on Tuesday, it had to offer fat interest payments to investors. The extra yield it paid over Treasuries, a measure of how much …
A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable and affirmed the issuer credit rating (ICR) of “a-” of the UK-Based non-operating holding company, Aviva plc. Best also affirmed the financial strength rating (FSR) …
Goss Reinsurance Brokers LLC, a privately owned reinsurance intermediary firm headquartered in Dallas, Texas, has added Kirk Conrad as partner in the firm. He will lead Goss Re’s quantitative analysis effort including catastrophe and risk modeling, actuarial consulting, and financial …
