US life insurer MetLife is likely in the process of selling its UK bulk annuities business, MetLife Assurance Limited, in a deal which might be valued around pound 1bn, in a bid to consolidate its operations. The sale is part of the ...
Unico American Corporation (UNAM) has selected Insurance Systems to deliver a new policy administration system for its subsidiary, Crusader Insurance Company. Apart from providing ISI Enterprise, which Unico plans to implement as its core ...
Tags: UNAM, Insurance Systems, Insurance
White Mountains Solutions Holding Company has signed a definitive agreement to buy a runoff insurance subsidiary of Leucadia National Corporation (LUK), Empire Insurance. Subject to customary closing conditions and regulatory approval ...
Tags: White Mountains, Empire Insurance, Insurance
New York-based Gerber Life Insurance has selected MajescoMastek’s Elixir North America policy administration platform to manage all its business lines. As a part of Gerber Life's two-year transformation and modernization initiative, ...
Tags: Life Insurance, Gerber Life, Insurance
Canadian underwriter Great-West Lifeco has inked an agreement with the government of Ireland to purchase Irish Life Group for $1.75bn and $1.25bn subscription receipts offering for common stock. Following the completion of the ...
Tags: Life Group, Lifeco, Irish Life
Broker-sourced specialty property and casualty insurance coverage provider Ironshore has completed acquisition of a managing general underwriter, Excess Risk Reinsurance (ERR), for an undisclosed amount. As part of the acquisition, ERR ...
A wholly-owned subsidiary of Bermuda-based Enstar Group (ESGR) has acquired SeaBright, a multi-jurisdictional workers' compensation insurance company, as part of an agreement originally proposed in August 2012. Based on the terms of the ...
Tags: Enstar Group, SeaBright, workers'compensation insurance
Property and casualty underwriter ACE Group has started underwriting energy risks through Syndicate 2488 at Lloyd’s of London in an effort to expand its global portfolio. The initiative represents the company's commitment to boost ...
Tags: ACE Group, energy risks, Lloyd
Marsh & McLennan Companies has reported an operating income of $1.8bn, for the full year of 2012, with an increase of 12% from $1.6bn during the same period last fiscal. For the year ended on 31 December 2012, its revenue increased 3% to ...
CUNA Mutual Group and the Arizona Department of Insurance (DOI), receiver for PMI Mortgage Insurance Co (PMI), have inked an agreement to support the future development of CMG Mortgage Insurance Company (CMG MI). Based on terms of the ...
Tags: CUNA Mutual Group, DOI, PMI, CMG MI
RGA Reinsurance Company of Australia (RGA Australia) has promoted Mark Stewart to serve as its new managing director, with immediate effect. Stewart has served as the company's interim managing director since November 2012, managing all ...
Xicato, a leading developer of LED modules for retail, hospitality and architectural environments, today announced a new warranty program that sets an entirely new benchmark for the lighting industry. The Xicato “Five-Year Color ...
Tags: Lighting Industry, LED modules, LED lighting
ING US has named Dave Swanson as senior vice president and head of employee benefits product and pricing team, in a bid to develop its business by offering latest product design and disciplined pricing. Based in the company's Minneapolis ...
Tags: employee benefits product, Insurance Solutions, Insurance
Bermuda-based AXIS Capital has reported net income available to common shareholders of $495m, or $4 per diluted common share for the year 2012, against $9m or $0.07 per share during the same period earlier year. The increase in net income ...
ACE USA has rolled out a new insurance product, known as ACE Public Entity Retained Limits Policy Endorsement, to offer integrated first-party pollution coverage for public entities. The improved policy integrates public official ...
Tags: ACE, insurance produc, public entities