Articles
LONDON (Reuters)?The British government is considering all options for embattled mortgage lender Northern Rock, including nationalization, although a private sale is still the preferred option, finance minister Alistair Darling said on Tuesday. In a speech to the Royal Society of Arts, Darling...
LONDON?David Batchelor will succeed Alex Moczarski as chief executive officer of Marsh Inc.?s operations in Europe, the Middle East and Africa, the brokerage announced. Mr. Batchelor currently is head of Asia Pacific for Marsh. He will relocate to London from Hong Kong in the coming months,...
PRAGUE, Czech Republic?Guy Carpenter & Company L.L.C. is opening an office in Prague on March 1 to expand its business and serve clients in the Czech and Slovak Republics, the New York-based reinsurance brokerage announced. The new office will be part of Guy Carpenter's Central and Eastern...
BEIJING, (Reuters)?Insurance premiums in China increased 24% in 2007 to hit 700 billion yuan ($97 billion), Wei Yingning, vice chairman of the China Insurance Regulatory Commission said on Tuesday. That was well above the 14.4% rise in 2006 as the insurance industry burgeons, with Beijing...
ATLANTA?Steve Denton, chief operating officer of Beecher Carlson, has been named to the additional post of president, the Atlanta-based brokerage said Monday. Mr. Denton, who also was elected to Beecher Carlson?s board of directors, succeeds Tom Golub, who remains chairman and chief executive...
Risk managers continue to pay lower premiums across the board for their commercial insurance policies, according to results from the Risk & Insurance Management Society Inc.?s fourth-quarter benchmark survey. Directors and officers liability premiums fell an average 11% in the fourth quarter,...
JERSEY CITY, N.J.?Catastrophes cost U.S. property/casualty insurers an estimated $6.5 billion in 2007, the Insurance Services Office Inc.?s Property Claim Services unit reported Monday. That was the eighth-lowest catastrophe loss total in a decade, according to PCS. PCS reported that 23...
NORWICH, England? About 650 back-office employees of Marsh Ltd. will transfer to The Capita Group P.L.C. in April. Under the agreement, Capita will create a service center in Marsh?s current Norwich, England premises, it said in a statement. Some services currently provided offshore by an...
LONDON?The airline insurance market looks increasingly likely to have made a loss in 2007 and as a result participants are likely to use the first quarter of 2008 to reassess their positions, according to London-based Aon Ltd. The amount of losses, which includes attritional losses, is now...
CHICAGO (Reuters)?Diversified manufacturer Ingersoll-Rand Co. Ltd. said Friday it has taken a noncash pretax charge of $449 million for pending and estimated future asbestos claims through 2053. The fourth-quarter charge, which will be $277 million after tax, results from a $538 million increase in...
