US insurer American International Group (AIG) has launched a sale proceed in Hong Kong to offload $2bn worth of ordinary shares of AIA by placing it to certain institutional investors. The fund raised by the sale of the proposed shares ...
Tags: AIG, ordinary share, insurance company, insurance
RLI, a specialty insurance company, has promoted both Jennifer Klobnak and Chris Randall to vice president, risk services. According to the underwriter, Klobnak will oversee property and personal lines products, while Randall will ...
Tags: RLI, Jennifer Klobnak, Chris Randall, vice president, risk service
RLI Corp, a specialty insurance company, has introduced a new security guard and alarm systems liability insurance product for security insurance companies. The company has also appointed Mitchell Bombet as Underwriting Director to ...
Tags: RLI Corp, specialty insurance, security guard, alarm system, insurance
US-based Affirmative Insurance Services has selected Mitchell International as the new provider of auto physical damage claims processing services to its customers. As part of the multi-year agreement, the insurance company will deploy ...
Tags: Mitchell International, auto physical damage, auto insurance, insurance
Medica has appointed John Naylor as senior vice president for commercial markets to enhance the business segment, effective from 19 November 2012. Naylor will take over the new role from Simeon Schindelman, who has been appointed as chief ...
Florida based insurance provider 21st Century Holding Company has changed its corporate name as Federated National Holding Company (Federated National), after receiving shareholder approval. The company has also changed its Nasdaq trading ...
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Aviva, a UK multinational insurance company has warned that it will slash approximately 800 jobs in its UK operation, as part of its austerity measure to reduce the cost substantially and bring the life insurer on the track. The ...
Tags: multinational insurance company, insurance company, life insurer
Pennsylvania-based insurance wholesale broker WN Tuscano Agency has completed acquisition of Special Risk Solutions (SRS), the brokerage division of Utica Mutual Insurance Company. SRS is scheduled to commence operations under the Tuscano ...
Tags: WN Tuscano Agency, Special Risk Solutions, acquisition
Birmingham based ProAssurance Corporation (PRA) has closed the acquisition of Independent Nevada Doctors Insurance Exchange (IND), for an undisclosed sum. In accordance with terms of the agreement, IND will become a subsidiary of ...
Tags: ProAssurance, acquisition, Independent Nevada Doctors Insurance Exchange
Amica Life Insurance Company, a subsidiary of Amica Mutual Insurance Company, has implemented LifeSuite Automated Underwriting platform from StoneRiver. Amica has selected the new tool based on its previous experience of use of both ...
PVI Holdings and Sun Life Assurance Company of Canada, has entered into an agreement to establish a joint venture, called PVI Sun Life Insurance Company Limited (PVI Sun Life) to offer innovative life insurance products to customers in ...
Tags: life insurance, joint venture, PVI Sun Life Insurance, insurance product
The Prudential Insurance Company of America has inked a deal with Verizon Communications, pursuant to which the latter will transfer nearly $7.5bn in pension plan obligations to the former. Following the completion of the deal expected in ...
Tags: Prudential Insurance, Verizon Communications, pension plan, insurance
SSQ General Insurance Company (SSQauto) has successfully implemented Guidewire BillingCenter and Guidewire ClaimCenter. The firm also selected Guidewire rating management and client data management modules to enhance service levels and ...
Tags: SSQ General Insurance Company, Guidewire BillingCenter
Alterra America Insurance Company, a wholly-owned subsidiary of Alterra Capital Holdings, has signed an agreement with Ullico Casualty Group (UCG), to venture into the US multiemployer and governmental fiduciary liability and union ...
British Insurance firm Aviva's chief executive officer Andrew Moss has stepped down from his position with immediate effect after shareholder revolt over pay. The board has requested chairman designate John McFarlane to become ...
Tags: Aviva, Andrew Moss, insurance company, insurance