News

The bidding war between Max Capital Group and Validus Holdings over Bermuda-based property-catastrophe reinsurer IPC Re continued this week, with Max announcing its deal has regulators' approvals.

Fitch Ratings announced it has dropped American International Group property-casualty subsidiaries' insurer financial strength a ratings notch based on the stress of its continuing financial problems.

A modeling firm which has been projecting pandemic flu impact for the past three years says the current outbreak while growing is unlikely to cause big insurance losses.

Insurance prices are not likely to begin rising until early 2010, but federal government actions before then could mean abrupt price spikes rather than gradual shifts, an economist suggested yesterday.

An insurer-supported group conducting a survey of Arctic Sea ice melt has ended its expedition, it was announced.

American Specialty Insurance & Risk Services Inc., a subsidiary of Daytona Beach, Fla.-based insurance broker Brown & Brown Inc., said it has named Tony L. Wittwer its new president.