ProAssurance Corporation announced that all required regulatory approvals have been granted in connection with its proposed sponsored demutualization of the PICA Group (PICA), the nation’s leading provider of professional liability to doctors of podiatric medicine. The proposed demutualization is being submitted to PICA shareholders for their approval at a special meeting to be held on [...]

XL Insurance, XL Capital Ltd’s global insurance operations, unveiled Pollution Insurance for Property Owners and Managers, a suite of pollution insurance endorsements and claims and risk management services to help protect the value of commercial real estate (CRE) portfolios in the U.S.
Rich Corbett, head of XL Insurance’s Global Environmental unit, said: “Environmental risks are [...]

Daryl R. Tressler, Chairman, President and Chief Executive Officer of MainSource Bank,announced that MainSource Bank will expand its presence in Kentucky with the purchase of three branch locations from American Founders Bank, Inc. (”AFB”). The transaction includes two branch locations in Frankfort, Kentucky and one branch location in Lawrenceburg, Kentucky. In total, the purchase includes [...]

On January 20, 2009, Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court, Southern District of New York, on behalf of all persons who purchased the Variable Universal Life Insurance (“VUL”) Policies issued by Tremont International Insurance Limited or Argus International Bermuda Limited [AGH BH] (collectively, [...]

The Doctors Company, the largest national insurer of physician and surgeon medical liability, has received the exclusive endorsement of the Los Angeles County Medical Association (LACMA) as the preferred carrier for its members. LACMA represents physicians from every medical specialty and practice setting across Los Angeles County.
The Doctors Company succeeds The SCPIE Companies, which were [...]

Bradley & Parker announced the acquisition of Profile Coverage Corporation and its affiliated companies, located in Ronkonkoma, New York. The transaction was effective December 31, 2008.
With roots going back to 1964, Profile Coverage Corp. is an all lines insurance agency/broker offering risk management, commercial and personal property/casualty, life and health insurance services to its [...]

Further to its announcement dated 22 July 2008, CNP Assurances announces the completion of the agreement for the long-term partnership with Marfin Popular Bank for the development of the insurance business in Greece and Cyprus through the Marfin Popular Bank networks in Greece and Cyprus.
The terms of the agreement include the transfer of 50.1% of [...]

Hannover Re has again transferred a portfolio of life and annuity reinsurance to the international capital market. The transaction – designated “L7″ – encompasses a financing volume of EUR 100 million and covers unit-linked life and annuity business of several European clients.
This transfer enables Hannover Re to convert a future earnings steam into a current [...]

With the economy expected to remain sluggish and regulatory reform looming, U.S. life insurance companies will face significant challenges in 2009, according to Watson Wyatt, a leading global consulting firm.
“Low revenues and a volatile stock market will make 2009 a challenging year for the life insurance industry,” said Craig Buck, U.S. head of insurance [...]

Knob Hill Partners, LLC, a search fund led by Charles Burckmyer and Scott Noll, announced that it has held the final closing on its fund and commenced its nationwide search for a company to acquire. The fund is positioned to capitalize on significant opportunities in small- to mid-market businesses.
The fund is actively seeking a well-established, [...]