August, 2007
HAMILTON, Bermuda? Bermuda-based Flagstone Reinsurance Holdings Ltd. has obtained a controlling position in Cayman Islands-based Island Heritage Holdings Ltd., a company specializing in Caribbean insurance. Bermuda-based Butterfield Bank Group and Ace Insurance, a unit of ACE Ltd., will...
SYDNEY, Australia?Gross premium revenue for Australian nonlife insurers increased by more than $500 million Australian ($427 million) in 2006 compared with 2005, according to statistics published by the Australian Prudential Regulation Authority. Sydney, Australia-based APRA said that gross...
ZURICH, Switzerland? Zurich Financial Services Group expects claims from June storms and flooding in the United Kingdom to amount to less than $400 million. The Zurich, Switzerland-based insurer said the pre-tax claims estimate is net of reinsurance. The final amount could change as...
WASHINGTON?The House Financial Services Committee approved an amended version of the Terrorism Risk Insurance Revision and Extension Act late Wednesday afternoon. The amended bill passed by a vote of 49 to 20. The most significant amendment calls for extending the federal insurance backstop by 15...
