Galapagos Capital, a global investment company headquartered in Brazil that offers a range of investment management, banking and financial services, has received pre-authorisation from the insurance regulator SUSEP to establish an issuer of Letra de Risco de Seguro (Insurance Risk Letters), which are Brazil’s own type of insurance-linked securities (ILS).Galapagos Capital aims to become the … Read more
South Carolina regulators have ordered Atlantic Coast Life Insurance and its captive reinsurer, Southern Atlantic Re, to stop writing new policies by Tuesday, Dec. 31. The carriers also were ordered to notify all producers about the cease-and-desist directive from the South Carolina Department of Insurance. “We are publishing these orders today as part of our … Read more
When Rob Tufel was diagnosed with prostate cancer, he already knew how challenging it can be to go through treatment. He was a 2-time cancer survivor and had worked in the field of oncology for more than 30 years. But he was surprised by how poorly he still felt months after his successful treatment. “I … Read more
QBE, the Australia headquartered global insurance and reinsurance group, has now secured its targeted $250 million of retrocessional protection from its first catastrophe bond sponsorship since 2013, as the Bridge Street Re Ltd. (Series 2025-1) issuance has now been priced roughly 14% below the mid-point of initial guidance, we are told.QBE has been back in … Read more
Four Minneapolis restaurants with shared ownership will pay $105,784 in back wages, damages and penalties to resolve violations identified by U.S. Department of Labor, including illegally firing an employee who cooperated with investigators. The department’s Wage and Hour Division found Boludo Holding Co. and its owners, Jerad Rassmussen and Facundo Defraia, violated the Fair Labor … Read more
