Swiss Re’s latest “Sigma” Report focuses on the structural changes that have taken place in the European Property/Casualty insurance sector, and confirms that mergers, acquisitions, deregulation and the growth of technology have caused major changes in the industry, and that …
Despite rumors to the contrary, State Compensation Insurance Fund remains solid in the turbulent California workers’ compensation market. The state’s largest workers’ comp provider received an affirmed “BB++” financial strength rating from A.M. Best on May 24. Best announced that …
On May 25, the Workers’ Compensation Insurance Rating Bureau (WCIRB) released its final summary of year-end statewide results, updating a preliminary summary released April 7, 2000. The WCIRB continues to report record-high pure loss ratios of 100 percent and great …
A $7.1 billion bailout for American farmers hurt by depressed crop prices was approved Thursday by Congress. If approved by President Clinton, as is expected, the bill would make federal crop insurance cheaper and easier for farmers to buy. The …
Leucadia National Corp. is set to buy struggling insurer Reliance Group Holdings Inc. in a stock swap valued at $293 million. The deal will result in Reliance stockholders receiving roughly 0.11 share of Leucadia common stock for each Reliance share. …
The National Motorists Association is offering what could be considered traffic ticket insurance. For a monthly fee, the Madison, Wis.-based motorist group will pay traffic fines, including those for speeding and drunk driving. Drivers make monthly payments from $5 to …
Shareholders in Zurich Allied, the Swiss component of Zurich Financial Services, approved the previously announced plan by company management to combine the shareholdings with Allied Zurich (AZ), the U.K. based segment of the company. An extraordinary meeting is scheduled for …
Holland’s ING Group announced earnings increases in both its banking and insurance sectors for the 1st quarter. Net pretax profit from combined operations rose 32 percent from €775 million ($697.5 million) to €1.023 billion ($920.7 million) as compared to the …
The New York Attorney General’s announcement of an agreement with Empire Blue Cross and Blue Shield, coupled with the Gov. Pataki’s submission of a bill clearing the way for Empire’s conversion, puts the final pieces in place to move forward …
ConfirmNet Corporation, an e-service business-to-business application service provider to the insurance industry, has opened a new office in Pennsylvania. Richard Schoeninger manages the region and will operate from an office in Malvern, Penn. The office is the second to open …
