January, 2008
HARTFORD, Conn.?Former Cologne Re Dublin Chief Executive Officer John Houldsworth understood from his first conversations with General Re Corp. officials about a proposed reinsurance deal with American International Group Inc. that the deal would include no risk transfer, Mr. Houldsworth told a...
WASHINGTON?The House of Representatives for the second time in the last three months failed to override President Bush?s veto of legislation that would added $35 billion in federal funding over the next five years to expand health insurance coverage for children in low-income families. On a 260-152...
WASHINGTON (Reuters)?A U.S. health insurance giant Wednesday presented a proposal to reduce the number of Americans without medical coverage and said it was intended as a blueprint for U.S. policymakers. The Blue Cross & Blue Shield Assn., whose 39 regional companies insure about 100 million...
WASHINGTON (Reuters)?Sen. Christopher Dodd said Wednesday he is determined to move federal flood insurance legislation through the Senate promptly, despite resistance from Louisiana lawmakers. "I intend to do all I can to move this legislation to the president's desk as soon as possible," said the...
WASHINGTON?Legislation given final congressional approval Tuesday would expand the federal Family and Medical Leave Act to allow employees to take up to 12 weeks of unpaid, job-protected leave when a spouse, son, daughter or parent is on active duty in the Armed Forces or is called up for active...
BRUSSELS (Reuters)?The executive European Commission adopted a far-reaching plan on Wednesday to cut EU emissions of greenhouse gases blamed for global warming, boost renewable energy use and increase biofuels, an EU source said. "It's adopted just now," the source said after the 27-member...
NEW YORK (Reuters)?Ambac Financial Group Inc. reported a quarterly loss of $3.3 billion on Tuesday after recording massive credit derivative write-downs, but its shares surged after the bond insurer said it hopes to find much-needed capital "reasonably soon." Ambac said it also hopes its main...
LONDON?Swiss Reinsurance Co. has moved its carbon emissions trading desk to London from New York and is expanding the operation?s staff. The desk?s activities include trading, originating and structuring bespoke capital market and insurance transactions to stakeholders in the carbon markets,...
ZURICH, Switzerland?Berkshire Hathaway Inc. has acquired a 3% stake in Swiss Reinsurance Co. and for the next five years will assume a 20% share of the Zurich, Switzerland-based reinsurer?s property/casualty business under a proportional reinsurance contract. The quota-share reinsurance...
DAVOS, Switzerland?Insurance market professionals joined around 2,000 participants from 85 countries at the opening of the World Economic Forum today in the Swiss resort town of Davos. Several insurance company and brokerage executives, including representatives from Swiss Reinsurance Co.,...
