News

Toronto-based Fairfax Financial Holdings Limited will be paying $1 billion to fully acquire Odyssey Re Holdings at a higher share price than originally announced.

Marsh & McLennan Companies said today that it has extended MMC President and Chief Executive Officer Brian Duperreault's $1 million a year base contract and bonus rate unchanged for an additional three years.

Moody's Investors Service, which had said last week it would not attend a hearing by insurance regulators concerning rating service failings, has changed its mind.

Standard & Poor's Equity Research said it had raised its opinion of American International Group shares to hold from sell, and company shares rose.

U.S. Rep. David Scott, D-Georgia, an advocate of multistate licensing for producers, was given the National Association of Mutual Insurance Companies' Federal Legislator of the Year Award.

Insurance Services Office filed the insurance industry's first standard coverage option for commercial property owners interested in rebuilding damaged property with green alternatives.