Ratings-challenged bond insurer Ambac Financial Group, Inc. announced it has reached agreement with counterparties to terminate four collateralized debt obligations (CDOs) worth approximately $3.5 bil

The Zurich, Switzerland-headquartered insurer said Mr. Vitale replaces Geoff Riddell who will assume additional responsibilities overseeing Zurich's operations in the Asia-Pacific and Middle East regi

Its action came, Citigroup said, after ACE's disclosure that its exposures from premiums and claims from variable annuity contracts reinsuring Guaranteed Minimum Death Benefits (GMDB and Guaranteed Mi

In testimony before the Senate Finance committee, Andrew Stern, international president of the Service Employees International Union said Congressional and White House policymakers should take advanta

The company said that approximately $500 million in earned but deferred pay would be distributed in the first quarter of 2009, which is pay that individuals earned but volunteered to defer receiving u

New York Insurance Superintendent Eric Dinallo announced he has issued an advisory to insurance companies notifying them that canceling a homeowners policy only on the basis that a dwelling is unoccup

So far approximately 900 claims have been filed with insurers amounting to about $104 million in insured losses, but that number is expected to rise as more claims come in, said Tully Lehman, a spokes

Insurance industry groups continue to argue that North Carolina's state-run insurer of last resort would be unable to absorb the losses from a major storm, with the most recent argument coming from th