The following day, Kemper announced it would acquire the renewal rights to a portion of Reliance National’s book of business. Meanwhile, Standard & Poor’s has lowered its ratings on Reliance and related entities following the announcement of the sales. The …
As a result of the successful offer, Prudential Mortgage Capital Company, LLC intends to effect a “short-form” merger as a result of which WMF will become a wholly owned subsidiary of Prudential Mortgage Capital Company, LLC.All shareholders of WMF who …
The Florida Department of Insurance has banned race as an underwriting criteria and has been investigating small-face-value life and industrial life insurance policies sold in Florida. In addition, the Florida Department of Insurance is negotiating a settlement with companies that …
With the launch of the ebix Insurance Center on its site today, The Dollar Stretcher will refer consumers to ebix.com for all their insurance needs. Approximately 180,000 people visit the site every month and over 150,000 readers receive their newsletters …
Michigan Mutual Insurance Company, a mutual company with headquarters in Farmington Hills, Mich., is now known as Amerisure Mutual Insurance Company “The board and policyholders agreed that it was time to change our name to reflect the broader scope of …
A veritable who’s who in the insurance industry attended the two day conference in Paris organized by Oakland based EQE International and EQECAT, Inc. its catastrophe modeling arm, to hear an exhaustive review of “Insurance Risk Quantification.” The 140 people …
AXA Financial, Inc. (AXF) and Alliance Capital Management L.P. (AC), both U.S. based subsidiaries of France’s AXA Group, have entered into an agreement to acquire substantially all of the assets and liabilities of Sanford C. Bernstein, Inc., the largest value-oriented …
CIBC has agreed to sell its property and casualty insurance companies, The Personal Insurance Company of Canada and CIBC General Insurance Company Limited, to Desjardins-Laurentian Financial Corporation (DLFC), subject to regulatory approval. The sale is valued at approximately $330 million …
A Worcester, Mass. man was charged Wednesday with operating an auto body shop that routinely inflicted damage on cars brought in for repair and defrauded insurance companies by submitting false claims for the extra damage. John S. Troiano, 48, was …
Penn-America Group, Inc. expects second quarter earnings estimates to be lower than the consensus estimate of $0.21 per share. This lower expectation reflects losses in the company’s commercial property portfolio. The company expects to report second quarter earnings on the …
