Property & Casualty Insurance

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OneBeacon Insurance Group exits crop business

Friday, 31 Jul 2015 04:30pm EDT

OneBeacon Insurance Group:Says it has exited the crop insurance business due to the sale of its exclusive managing general agency, Climate Crop Insurance Agency, to AmTrust Financial Services, Inc.Says company's existing crop insurance business has been transferred to AmTrust, including policyholder servicing.

W. R. Berkley Corp combines U.S. broker market reinsurance units

Monday, 30 Mar 2015 02:20pm EDT

W. R. Berkley Corp:Says combination of its U.S. broker market reinsurance units, Berkley Re America and Facultative ReSources, into a single operating unit that will trade under Berkley Re America name.

MPHB Capital Bhd's subsidiary disposes 49 pct stake in Multi-Purpose Insurans Bhd to Generali Asia N.V

Wednesday, 17 Dec 2014 07:00pm EST

MPHB Capital Bhd:Says its subsidiary Multi-Purpose Capital Holdings Berhad enters into a conditional share purchase agreement (SPA) with Generali Asia N.V. for the disposal of 49 pct stake in Multi-Purpose Insurans Bhd (MPIB) for a cash consideration of about 355.8 mln ringgit.MPCHB has also, on even date, entered into a call and put option agreement with Generali Asia for the grant by MPCHB of call and put options to Generali Asia.Transactions expected to be completed by early 2015.

Euler Hermes completes legal restructuring into single Belgian risk carrier

Tuesday, 4 Nov 2014 11:45am EST

Euler Hermes SA:Completes legal restructuring into single Belgian risk carrier.Completed rationalization of its legal structure by merging two of its main remaining insurance companies -located in France and Germany - into its risk carrier in Belgium, Euler Hermes SA.Says entity is supervised by National Bank of Belgium.

Fairfax Financial Holdings Limited Integrates MFX With IKYA to Form Global Technology Services Group

Monday, 3 Nov 2014 05:02pm EST

Fairfax Financial Holdings Limited:Says that Ray Roy has determined to retire in Jan. 2015 as CEO of Fairfax's subsidiary, MFXchange Holdings, Inc. but will remain as Non-Executive Chairman.In planning for Roy's retirement, Fairfax, in close consultation with Roy, is integrating MFX with the IKYA Group, a Fairfax subsidiary within the Thomas Cook India Group.With a strategic focus designed to leverage technology capabilities of both organizations and create growth opportunities for combined entities on a global basis.

Vittoria Assicurazioni SpA approves merger by incorporation of Vittoria Properties into company

Thursday, 31 Jul 2014 12:19pm EDT

Vittoria Assicurazioni SpA:Says the Board has approved the incorporation of Vittoria Properties Srl (already totally controlled) into Vittoria Assicurazioni.The operation is part of the overall reorganization project concerning the Real Estate subsidiaries aimed at a reduction of intercompany costs and of managerial and administrative formalities.The operation is subject to IVASS approval.

QBE Insurance Group Ltd announces creation of emerging markets division

Monday, 16 Jun 2014 01:53am EDT

QBE Insurance Group Ltd:Says it has been concluded that the strategic opportunity for organic and inorganic growth in Latin America and Asia Pacific is served by bringing these two important Divisions together to form the QBE Emerging Markets division.All changes take effect from Aug. 15.

Tryg outsources its IT operations

Wednesday, 29 Jan 2014 03:08pm EST

Tryg A/S:Says has signed a new four-year IT operating agreement with TCS (Tata Consultancy Services Limited) and their co-partners ATEA and KMD.Says at the same time, the company has signed a new outsourcing agreement regarding parts of its IT development with Accenture.Says this agreement will run for five years with an option to terminate after three years.

NKSJ Holdings Inc announces result of early-retirement program of subsidiaries

Wednesday, 25 Dec 2013 02:00am EST

NKSJ Holdings Inc:Says 324 employees took the offer of early-retirement program by its two subsidiaries, SOMPO JAPAN INSURANCE INC. and NIPPONKOA INSURANCE CO., LTD, during the period from Dec. 2 to Dec. 20.Says the employees will retire on Mar. 31, 2014 and will be offered severance pay and outplacement support.Sees extraordinary loss of approximately 8.5 billion yen caused by the retirement payment, for the third quarter of fiscal year ending Mar. 2014.

Tokio Marine Holdings Inc Announces Updates on Merger of Subsidiaries

Wednesday, 16 Oct 2013 08:00pm EDT

Tokio Marine Holdings Inc announced that two life insurance subsidiaries, Tokio Marine & Nichido Life Insurance Co. and Tokio Marine & Nichido Financial Life Insurance Co., on October 1, 2014. Tokio Marine & Nichido Life Insurance will be survived and Tokio Marine & Nichido Financial Life Insurance will be dissolved.

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