AXIS Specialty, Allied World Assurance Company, XL Insurance (Bermuda), Endurance Specialty and Arch Insurance are among several insurers facing potential exposure in a civil complaint filed in California against Charles Schwab, Moody's Investor Services Inc. and Standard & Poor's Financial
Several Bermuda entities, including mutual funds, trusts and reinsurer Ariel Re, are among dozens of companies suing Goldman Sachs and UBS Securities in an attempt to rescind a $550 million bond offering.The complaint was filed at the U. S. District
Fourteen reinsurers, including four based in Bermuda, has brought a legal action against a New York Stock Exchange listed chemicals manufacturer and its captive insurer in an attempt to avoid paying claims totaling more than $30 million arising from Hurricane
Three insurers with Bermuda connections will be closely watching a securities class action complaint filed against rating agencies McGraw Hill Companies, which owns Standard & Poor's, and Moody's Corp. investment bank Morgan Stanley and others in California.Allied World Assurance Company
A non-profit corporation that assists the advertising community by independently determining the circulation of commercial publications has accused AXIS Specialty Insurance Company of refusing to pay its legal costs and fees occurred in defending two class action lawsuits. Details are contained in a civil complaint that was filed against AXIS by the Audit Bureau of Circulations, which is incorporated in Illinois and based in Schaumburg, Illinois, at the U. S. District Court for the Northern District of Illinois on May 28, 2008. The causes of action are breach of contract, and unreasonable and vexatious failure to provide coverage.
Several Bermuda insurers have been named as defendants in a Hurricane Katrina related lawsuit filed in the United States.Safeguard Storage Properties LLC and 36 of its subsidiaries have filed a complaint against Endurance Specialty Insurance Company, Axis Specialty Insurance Co.,
Reinsurers in Bermuda and elsewhere are seeking to force a Vermont based captive and its NYSE listed parent to arbitrate a dispute involving claims from a fire at a chemical manufacturing plant.A motion to compel arbitration was filed against International
Bermuda-based firms are among seven insurers being sued for at least $21 million resulting from claims over alleged methane ignitions at a coal mine in West Virginia.The action was filed by PinnOak Resources LLC, of Canonsburg, Pennsylvania, and its parent, Pinnacle Mining Company LLC, at the Circuit Court of Wyoming County in West Virginia on February 6, 2004 and removed to the U. S. District Court for the Southern District of West Virginia on March 4, 2004.
AXIS Specialty Limited has completed its acquisition of Royal and SunAlliance Personal Insurance Company.The New York-domiciled professional reinsurance company will be renamed AXIS Reinsurance Company as a result of the change of ownership.
AXIS Specialty Limited announced on October 7, 2002 that it had completed the acquisition of Connecticut Specialty Insurance Company.The company, which will be renamed AXIS Specialty Insurance Company, is domiciled in Connecticut and is a surplus lines insurer throughout most
ACE Ltd. has taken legal action against former executive John Charman to enforce provisions of his termination agreement that restrict his business activities until March 17, 2002.ACE filed an action at the High Court of Justice, Queens Bench Division, in