In its much ballyhooed initial public offering, Metropolitan Life Insurance Co., the number two U.S. insurer, raised $2.88 billion—less than half of its initial $6.1 billion target. The shortfall stemmed primarily from reduced demands for insurance stock. The company sold …
Superior National Insurance Group has voluntarily withdrawn its listing on the Nasdaq National Stock Market. Superior National does not meet the minimum financial qualifications to list its securities on the Nasdaq. It also does not qualify for listing on the …
Consumers seeking information to help them choose or locate insurance companies and HMOs can now get what they need-including complaint comparisons-directly from the Texas Department of Insurance’s web site. Key facts are available on each of the more than 2,700 …
With the successful launch of its new web site, InsureZone began offering business insurance coverage online April 6 at www.InsureZone.com. Policies available on the InsureZone web site are targeted to businesses with 50 or fewer employees. Coverage includes business liability, …
The Michigan Department of Consumer & Industry Services has formally launched the Office of Financial and Insurance Services. Frank Fitzgerald is the new Commissioner of the OFIS, which has responsibility for regulating the insurance, financial and securities industries in Michigan. …
The former insurance unit of Dallas-based Halliburton Co. is suing the energy services, engineering and construction company over 22,000 asbestos claims incurred before but not filed until after the unit’s spin-off. Highlands Insurance Group, and its Texas unit, Highlands Insurance …
Nebraska has become the fourth state this year to enact a law deregulating the commercial lines rate and form filing process. LB1119 was introduced at the request of the state Department of Insurance, and is referred to as the Property …
A recent study suggests that doctors manipulating reimbursement rules so that their patients can receive the care they need is on the rise as doctors feel more pressure to provide treatment not authorized under managed-care plans. More than one of …
Bermuda-based PartnerRe has reached an agreement with France’s SCOR Group to sell its U.S. life reinsurance business, PartnerRe Life Insurance Company of the U.S., and its subsidiaries Vanguard Life Insurance Co., Investors Insurance Corp. and Investors Marketing Group. The move …
Large investors, angry over the plunging value of Conseco shares, are calling for Chairman Stephen Hilbert’s resignation. Over the last two years, Conseco’s stock price has fallen more than 80 percent, down from a peak of $57.75 to a close …
