3377 results returned for search: "" category ("International Business" AND "Business")
Ace Ltd has completed its acquisition of Rain and Hail Insurance Service Inc for approximately $1.1 billion in cash, the Swiss-based company announced yesterday.
The purchase price reflects a dollar-for-dollar adjustment as required under the merger ...
DATE: Dec 30, 2010
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CATEGORY:
International Business
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The new Switzerland-based reinsurance company founded by Bermuda-based Catlin Group has been assigned a financial strength rating of A (excellent) by AM Best Europe.
Catlin Re Switzerland Ltd was also given an issuer credit rating (IRA) of “a”.
AM Be...
DATE: Dec 30, 2010
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CATEGORY:
International Business
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NEW YORK (Bloomberg) American International Group Inc., the company defending itself against a $1 billion workers' compensation lawsuit filed by rival insurers, may have handed its accusers momentum by agreeing to pay $146.5 million to settle a probe...
DATE: Dec 24, 2010
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CATEGORY:
International Business
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NEW YORK (Reuters) - Flagstone Re has extended the remit of its existing catastrophe bond prgramme to incorporate new perils, as the sector heads towards the third-strongest issuance year in its 20-year history.
This is the third issuance for Flagsto...
DATE: Dec 24, 2010
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CATEGORY:
International Business
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Fitch Ratings yesterday said it downgraded the short-term issuer default rating of Bermuda Commercial Bank by one notch to F3, because of “a moderate shift” towards higher-risk investments.
The ratings agency also affirmed BCB's individual rating at ...
DATE: Dec 24, 2010
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CATEGORY:
International Business
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AUTHOR:
Jonathan Kent
The financial strength rating of Sony’s Bermuda-based captive insurance company PMG Assurance Ltd has been affirmed at A (excellent) by ratings agency AM Best Co.
Best noted that PMG has changed its underwriting strategy to fully concentrate on Sony-...
DATE: Dec 24, 2010
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CATEGORY:
International Business
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Bermuda-based Enstar Group Ltd yesterday said it had agreed to buy Clarendon National Insurance Co from Hannover Re for $200 million.
The company, which specialises in acquiring and managing businesses that are being run off, said in a statement the ...
DATE: Dec 23, 2010
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CATEGORY:
International Business
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NEW YORK (Reuters) - Bailed-out insurer American International Group will pay $100 million in fines in a settlement with all 50 states over reporting errors for premiums on workers' compensation insurance.
The Pennsylvania Department of Insurance ann...
DATE: Dec 23, 2010
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CATEGORY:
International Business
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XL Group plc said yesterday that it has appointed Simon Rich as senior vice-president, global treasurer.
Mr Rich previously served as senior vice-president, corporate controller for the company. In his new role, he will continue to report to XL’s chi...
DATE: Dec 23, 2010
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CATEGORY:
International Business
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2010 has been a big year in the latest chapter of MS Frontier Reinsurance Ltd's history.
The company, which was set up in Bermuda eight years ago and is a member of the Japan-based MS & AD Insurance Group, moved into its new state-of-the-art headquar...
DATE: Dec 23, 2010
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CATEGORY:
International Business
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