A.M. Best Co. has upgraded the financial strength rating of the Farmers Insurance Group to A+ from A. The rating applies to the 18 members of the group and acknowledges Farmers Insurance Group as a core and integral operation of …
Shareholders of Conseco Inc. have re-elected four directors and rejected an advisory proposal urging the repeal of the company’s classified board structure. Lawrence M. Coss, 61; Thomas M. Hagerty, 37; James D. Massey, 65; and Dennis E. Murray Sr., 60, …
CIGNA Corp. has agreed to sell its U.S. individual and group life reinsurance and U.S. accidental death reinsurance businesses to Life Reassurance Corp. of America, a subsidiary of Swiss Reinsurance Co. CIGNA expects to receive cash consideration of roughly $170 …
Professionals Group Inc. and Medical Assurance Inc. have agreed to combine to create the nation’s third-largest medical malpractice insurance firm. The cash and stock transaction is estimated to be worth $240 million. The companies are expected to form a holding …
iwix.net, an Internet specialty insurance marketplace, has announced partnerships with five major Managing General Agencies (MGAs), who will be offering specialty products on the site. RA&MCO (representing Great American, Zurich Specialties London Limited and Insurance Company of the West), Market …
U.S. Ambassador to India, Richard Celeste, predicted that India’s opening of its market to foreign insurers would bring a s much as $1 billion in investments over the next few years from U.S. Companies. India’s ongoing struggle between the government …
A ruling by the Pennsylvania Supreme Court will further delay Munich Re subsidiary, American Re’s purchase of Pennsylvania based asset management company, United National Group. A lower court judge had ordered the Pennsylvania insurance Commissioner to rule on the acquisition …
According to reports which appeared in the Times of London, and France’s financial newspaper Les Echos, the world’s largest broker Marsh & McLennan (Marsh,Inc.) plans to expand its operations in the U.K. and on the continent. The Times cited Dan …
The New York Legislature ended its 2000 session leaving important insurance regulatory reform unfinished, but did defeat a number of bills promoted by trial lawyers that would have increased costs for consumers and businesses in New York. “The most disappointing …
The Los Angeles Times reported today that a senior lawyer for the state Department of Insurance has identified herself as the key whistle blower who leaked confidential documents to the Legislature. Cindy Ossias, 49, who works in the department’s San …
