News

The State of Vermont said it licensed 33 new captive insurance companies in 2010, down from the 39 it licensed in 2009.

iPipeline, a leader in software that supports marketing, selling, and processing solutions for insurance companies, announced the acquisition of the assets of GaleForce Solutions.

American International Group said it expects to close on its recapitalization plan and will issue about 75 million warrants to shareholders later this month.

Insurance in the Asia-Pacific region faces its own set of business challenges, and insurance technology has evolved along a distinctive path. In a new report, Model Insurer Asia 2011: Case Studies of Effective Technology Use in Insurance, Celent recognizes 18 insurance technology initiatives as model insurer components.

The planned revisions of a catastrophe model could cause interesting changes to the way the industry prices its property insurance, according to executives at the Property and Casualty Insurance Joint Industry Forum in New York City.

A New York state appeals court threw out a suit brought by a number of banks against bond insurer MBIA over the company’s plan to split its mortgage-backed securities exposure into a separate company.