AIG announced that it has entered into a reinsurance transaction with Compass Re Ltd., which will provide $400 million of peak-zone protection against U.S. hurricanes and earthquakes. To fund its potential obligations to AIG, Compass Re Ltd. issued a $400 …
Fresh data shows Louisiana’s insurer of last resort keeps churning away on getting private insurers to pick up policyholders, a problem largely stemming from the 2005 hurricanes. For policyholders of Louisiana Citizens Property Insurance Corp., the wait to go private …
Cuba is launching a plan to subsidize the construction and repair of private homes, an effort the communist government hopes will lead to better use of limited funds and stimulate private enterprise. Under the program, citizens will be eligible for …
Chartis today announced that it has entered into a reinsurance transaction with Compass Re, which will provide $575 million of protection to Chartis against U.S. hurricanes and earthquakes. This represents a substantial increase from the $275 million of protection originally …
Insurer American International Group lost more than $4 billion in the third quarter, as its aircraft leasing unit took an impairment charge on a portion of its fleet and the fair value of the company’s one-third stake in Asian insurer …
Wind-driven water like that occurring during Hurricane Irene penetrates openings in residential roofs but roof decks seams can be sealed to prevent damage, according to tests by an insurance home safety institute. The Insurance Institute for Business & Home Safety …
Mexico Friday announced that it has bought more than $400 million worth of insurance to protect vulnerable areas from the impact of hurricanes and other natural disasters. Mexico purchased 4.8 billion pesos ($404 million) of insurance to “protect public infrastructure …
More than 1.8 million homes along the Gulf and Atlantic coasts are at great risk of being damaged by a hurricane, three times the number located in federally defined flood zones, according to a report released Tuesday. The report by …